Price level to watch for: 1.0986 confluence zone
1. Cross of 2 channels
2. Long term trendline
3. 2nd Pivot support
Do not enter without a bullish candle signal, as the euro has been affected by russian sanctions. If you want to catch the bottom, place TIGHT STOP LOSSES. The long-term trend is downwards till eurozone stabilizes, so this is only a pullback idea.
Price has broken out of a short-term downtrend and provide opportunity for a quick scalp to the next trendline resistance. Lots of trend-line support underneath so i favour the upside, but a breakdown will quickly turn those support into resistance.
Was favoring the upside in liew of the higher highs and lows but price is just range-bound the past week.
Price is pingponging between 2 tightening trendline, forming a descending wedge. As long as price does not fall below the 0.786 fib retracement(1.496), i'll be looking for long opportunities. There is not yet any rsi divergence so attempting to call a bottom will be risky. Either wait till there's rsi divergence or a break above the wedge to for better entry.
The pair has completed its ABC move to the 1.618 fib extension level, and it has bounced off the 1.0 fib extension after the yen dump. Drawn are the key resistance and support trendlines/horizontal-lines that will prove to be bouncing spots, as price has respected the lines since long ago. I believe that momentum to the upside will be fully blown when the key...
As drawn, when price retraces to the trendline and horizontal intersect, buy and watch price breakout. Today's impulse is strong and i don't think its a bear flag. There's not much room for further downside anyway. We're talking potentially ~200 pips of retracement next week.
Been trying to catch the bottom for this pair, got stopped out 4 times each 10pips loss....
Tried to catch a bottom at 1.0658(horizontal supp, 0.764 retracement), but failed. Placed a tight stop and lost 10pips, as expected, when the level was breached price move down quick. We're coming at the long-term trendline here.
Put ur buy orders at the minor horizontal support with a very tight SL, as there's nothing underneath for a while.
The nzdusd has broken strongly out of its trendline, while the audusd has not. This has translated into huge losses for the pair in past week. Does this mean that the dynamics of the pair is going to change? Interestingly, the BOA is not any more hawkish nor dovish than BNZ in their statements. However, NZ has produced stronger growth data in recent weeks.
The...
bought from the bottom of the channel and at 1.125, initial TP was 1.13. But price did not show a strong bounce as i had imagined, and got rejected at the 1.127, 1.0 fib extension.
This lead me to believe that there is going to be a breakout happening. Place ur shorts below the previous low of 1 ATR below the channel(1hr chart), ur TP will be the 1.618 fib...
As drawn is one possibility. Taking into account a smaller and larger measured move.
Beware of false breakouts below 1.13. Can go for short term buys near the 1.131 mark, but put a tight stop. TP at resistance and short till the bottom of the downwards channel.
consecutive days of losses as aud/nzd has rebounced strongly. The 1.57 area is the last line of support before price reaches no man's land. Watch for strong bounces
Price has closed below the daily 200ema; u can see the upper wick just kiss the 200ema line and got rejected. The price almost hit the 1.705 point i've identified as an indicator of a bull trend reversal. It had bounced off the 61.8 fib, but had not showed the rally that i expected.
On the 4hr, u will see an inner ABC wave, and the low of the downwards impulse...
As highlighted, there is a zone of no near support below 1.705. If price do break the zone and retraces back to 1.72 support turned resistance, or the long-term trendline, i'll be looking for bearish signs.
Buyers should look at the 38.2 retracement as TP, since this appears to be wave 1. Conservative traders should look for rsi divergence on the 4hr to get an...
Watch for the highlighted zone @ 1.583.
Price is oversold on the daily and 4hr. The daily candle looks extended at this point, but do still put a tight stop if u're considering an aggressive entry. There is not much support below, so below the next horizontal swing low candle will suffice
Trade alert, not trade advice.
Watch for the 1.95 level. RSI oversold, and RSI divergence seen. If price rebound here, price may retrace to any fib level and continue down to trendline support
I don't wanna sound too bullish. Objectively, price is still bearish in the short term. The weekend bounce may be due to aversion to weekend slippage, bears will sell on short-term retracements, & price can go below the previous week low of 1.278. However, I'm almost 100% sure that 1.275 is gonna see a lot of support as there's a lot of confluence. Any SL should...
The pair has recently broken out of a downwards channel and had a small rally, but quickly hammered down by bears. The pair is looking to retest the 61.8 fib, horizontal resistance & trendline resistance at around 112.3
Pair is nearing oversold regions on the 4hr and daily. A close below this support will be really bearish, as there is no near-term support in...
