GBPAUD made an impulse bullish move since the end of august from 0.77000 to 0.84000 at the end of august and since this top the pair is in a range with the low of the range at 0.81400.
The pair is still bullish in my eyes and the second bullish impulse move can come soon with the next target at 0.85500 area.
EURJPY is showing a nice cup and handle pattern on H4/Daily time frames after a successful break and retest of a weekly lasting descending trend line.
We can notice also that the structure of the market is shifting from bearish to bullish with Higher highs and higher lows made on the H4/Daily time frames.
The pair has more upside potential in the coming trading...
After breaking to the upside a descending wedge, the paire made an impulsive move to the upside before slowing down to where we actually are.
the pair is in a mini consolidation between 1.0790 and 1.0720.
I'm seeing the support at 1.0720 hold and the pair making a new impulsive move to 1.08800 - 1.09000
The pair is rejected at a strong level of resistance of both weekly descending trendline + weekly supply zone.
A double top was formed on H4 and the neckline was successfully retested.
A break and retest of the current support could lead to more downside pressure.
The pair has the potential to fall further during the next trading sessions.
It broke an ascending channel to the downside and is now retesting it.
It will possibly be rejected from there and fall to the TPS marked on the chart.
The pair has been consolidating for 3 months now creating a triangle formation and finally manage to break the triangle to the downside.
It has retraced and found resistance at 0.96450 from where sellers are pushing the price down.
I believe that more downside pressure is to come with the weakness of the dollar index.
After the previous bullish wave resulting from the reverse head shoulders, prices have corrected during the past week down to 0.63300.
This zone is an area of multiple confluences, in particular it corresponds to the neck of the shoulders and head corresponds to the retracement to 50% of fibonacci.
This configuration creates a higher low.
A new wave of...
The pair was ranging in a flat channel since august 2018 and finally broke the channel last month and retested it forming a small corrective channel on the H4. A break to the downside of the support of the channel and the target for the pair is at 1.09500.