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We have been looking at Oil's wild movements after attack on suaid oil field , and it seems that now price is stabilised and have started again following its major trend as per global supply n demand ..
Looking at technical picture price looks stable above 50 $ , however in order to long we would like to see price moving higher and closing above 55$ price giving...
GBPNZD is continuing its bullish reversal and may continue higher , you may check on chart important support resistance zones from where we expect price to bounce or face resistance , you can use these levels to add in your trading strategy to prepare better plan for coming week..
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You can see in chart EURNZD is currently supported by strong support and also ascending trendline where as we have seen that price has not been able to move higher..
Because of this small range price action we can see potential triangle pattern and price is coming near to its end from where we can expect breakout of price above or below structure ... Look for...
Hello Traders.... price has already reached very near to cluster of resistance zones , we would suggest to wait for price to clear this zone before entering long with targets previous highs... as we can see minor retracement from resistance... in case clear break above resistance zone we would be looking to buy on retest and stay long till next resistance..
In USDCAD ..we would like to wait for sell as price has broken above descending channel pattern and is coming back to retest support.... we would like to see a bounce from here and waiting for strong support confirmation in order to enter long ..... If price moves further down and closes below descending channel top line which in turn will shift...
Its very evident from chart which you can notice that price is pretty much strongly respecting s/r levels and bouncing between support and resistance till further breakout.. assuming range trading to continue..we would like to sell near channel and buy from support untill breakout in either direction for trend confirmation..
Sell as pe your strategy near top of range and near resistance towards support zone as price may retrace lower before making new lows.... this setup would be strongly counter trend..so trade only if you have tested strategy for counter trend trades... idea invalidates if price moves and closes above resistance..
USDJPY is trading in probable descending channel pattern ... and making lower lows in 4hr chart.. we will be waiting for price to either close above channel or break below trendline to either take sell or buy trade... currently trading in small range rejected by horizontal support.
Pair is testing again ascending trendline.. from where we can expect bounce or alternatively break below....
In case of bounce long on break above descending trendline towards previous highs... in case break below trendline its good to wait for price to clear also horizontal support ..