Head and Shoulders on hourly chart; the pattern's neckline lines up with the fib .618 so I might go short from there.
Nice and clean 2618 after the double top at 0.7250; now price is retracing and I'll go short around 0.7200
CAD is one of the strongest currency due to it's correlation with USOil (which is skyrocketing in last days); NZD could show some more weakness, so a short on this cross seems a good deal to me.
Wait for the pattern to trigger, but a possible trend reversal in in the cards.
Pattern triggered today, as last candle's closure should complete below the neckline at 1.9800
One of my favorite trading setups. After a double top, confirmed by the lower-low, the pair is retracing and seems to be running out of steam around the .618 fibonacci retracement.
AUDUSD has recently broken last support around 0.6950 and after a continuation pattern (in blue) could be targeting 0.6200.
Some technical confluence make me lean on the short side on this pair: 1. retest of structure at 0.7050 level 2. pin bar 3. fibonacci confluence at 0.500 level look south!
This is how technical analysis il as simple as that: double top just at previous support, now turned resistance. Last day's candle confirms a downtrend move could be around the corner.
Bearish divergence on 4-hour chart printed on Stochastic oscillator. I'd might want to wait for a break of the rising trendline as further confirmation before pulling the trigger
Not so clean and symmetrical, but pattern wise I still think it could be a good one. Wait for a definitive break of the neckline.
The upside break on 7/15 gave a very good buying signal; now one of the very best handbook trading setups could materialize: former resistance at 1.2800 should become support to spring a new uptrend towards higher highs. EMA21 is also approaching the same level, so at the first bullish sign around that area I want to be a buyer.
Next Wednesday RBNZ is due to come out with the interest rates and forecasts are all in for a further 0.25% rate cut. Should this be confirmed the steep downtrend could extend itself toward new lows. Technically speaking, a relief rally is taking shape with prices climbing up in direction of the resistance around .6600/.6650. Some confluence comes from the down...