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In my previous idea , I was looking for a potential sup/res by symmetry , now we will expect selling pressure .It seems that this pair will fall steadily in the this month
note on the chart
NZDUSD reached the lower band of its rising channel and now we expect the bulls to gain the upper hand here and the push the price up. Risk of shorting the kiwi is extremely high and we think if the bulls can break the descending channel, kiwi will rise to the 8750 - 8800 area.
The price is the upper band of a trading channel in the Daily Chart and a powerful bearish AB=CD ( or N pattern) has formed on the upper band of the channel and it is accompanied by a Rejection bar. we will expect selling pressure
As long as the market keeps holding below 4819-4859 on a closing basis we remain bearish biased on this market.
The USDJPY reached the higher band of its rising channel, I expect the bulls to liquidate their long positions and thus will seek shorting opportunities and being a long here is not recommended , Bulls can look for a breakout pullback setup above the channel
The EURAUD is in a trading range right now between1. 5168 support and resistance up near 1.5533 and if this recent bearish momentum continues we could see a break below that support and an extension of this recent move lower. However, if the market holds above this support , we could then see the market push higher again
Daily Breakout looking for pull back setup
The Gold has exploded higher the last few days as it busted up above resistance near 1355$ that had been containing it recently. The market is obviously in a strong uptrend.watching for 4hr or daily chart for opportunities to long if the market rotates back down to support./value.
The GOLD rotated lower today,we could see the market retrace back to value - support before the market resumes pushing higher again. Keep an eye on the support layer between about 1285 – 12955 for price action buy signals to rejoin the uptrend if we continue seeing price move lower in this market.
Traders should keep a close eye on this key support near 1.5021 this week, if the market bounces from here it could keep the market range-bound, but if the market just stalls out here we could break lower soon, continuing the recent bearish momentum and breaking down from the trading range.