From our previous analysis on EURAUD, you can notice that the market had moved exactly as we predicted, completing the "W" formation as it's supposed to. And currently, the market is finding support at the 1.63500 zone. So what we will be doing is to monitor Price action on the 4 hours waiting for proper confirmation to go long.
Due to the EURAUD price ranging between the 1.65300 zone and the 1.61300 zone, we expect price to retrace back from the daily high of 1.61300. Following the W pattern created by the market on the Daily time frame, price should retrace back to the 1.63636 zone.
The NZDUSD currency pair has found it's way back to the major resistance zone @0.68100. We expect price reversal at this point, but take note to watch out for a clear reversal strategy to be evidenced on the H4 time frame before proper entry is executed.
With the popular Head and Shoulder candle sticks pattern identified on the Bitcoin Daily chart, we expect a new bearish trend formation to continue. Looking at the previous support l zone 11109.83 now turned resistance, its possible to say that the retest zone has been identified. Further confirmations should be noted using the 4 hour chart before entry is executed.
The USDCAD has continued to range between the 1.31348 zone and the 1.32503 support and resistance zones respectively. We are expecting the market to continue in this formation until a breakout is evidenced
Bitcoin dropped from high of $12,000 over the last 4-5 months and currently finding support at $8,200 being fib level 0.618.
First Scenario, price breaks above trend line and Confirmation above $9,000, we expect to clear new highs of $15,000-$20,000.
Second scenerio, price doesn't respect support zone at $8,000 and keeps dropping below $7,500, we expect new lows...
Audjpy H4 ranging between 79.900 and 77.500 for the past 2 Months. Short Selling expected from current price 79.555 to 77.600. Watch for clear change of trend signal before shorting. First target 78.500 down to 77.600.
NZDCAD slight breakout (Might be false Break) from the 3 Months consolidation at 0.91300. The Double top candle formation on the H1 might Trigger a Short selling Signal on NZDCAD. Conservative Sell entry below the Resistance zone at 0.90920 with First Target at 0.90200, second target 0.89344.
Usdcad still stalling after making attempt to break-out from the 5 months resistance zone shown by the channel. The Head and shoulder pattern formed opens a good opportunity to short the Usdcad pair from current price 1.30800 to 1.29350 as bearish moments should be expected over the next 3-4 days.