I see a potential uptrend channel that could happen in the next few hours. However, on the daily it is simply a re-test of a broken upward channel which means the price could break the bottom channel and make a new low.
GBPUSD This week I feel there maybe further down along the downtrend channel in the 4h chart, however, it is also a possibility that it may break the channel to re-test the structure above. Should it gets rejected, we will see it complete fall apart and come down like a falling knife.
AUDUSD has broken the lower resistance line on the daily time frame, short it when it retests the line marked yellow.
Right now there will be possibly a small long short term opportunity as the massive downward force may awaken a few bulls to come in and correct the movement before further moving down south.
On the daily chart of USDCHF, we have a ranging motion across the channel, as we look closer, we see that there is a 4H AB=CD pattern as well as the price is hitting the bottom channel of the ranging zone, when the price hits the bottom of the channel it is also the point of D. I will be buying this when it hits 0.95245, or any price within that zone.
We are expecting GBP to follow along this uptrend channel which it established on the 1-4 hour chart.
From top down, we see that on daily, it's actually in a ranging motion and it's right now in the middle of the ranging channel, which is not wise to make any trading decisions, it could go both ways at this point.
However, close up analysis I deduced that it...
I believe USDJPY has reached a bottom, so this is a golden opportunity to go long, and not just short term, we can expect a long on a daily level too.
Now I have entered this trade already, but to me there will be plenty of opportunity to enter again.
Right now it is still within a downtrend channel, however we will be expecting to break out of it soon. There...