after recent market activity, eurusd is presenting a potential trend off of the resistance level. MACD is showing bearish divergence on the pair as well, fueling the idea. I would be taking this trade till the 50% Fib level, should this actually be a trend breakout after a pullback.
USDJPY is printing a probable reversal off of the historical support trendline. MACD on the 4h is printing divergence, 1h showing momentum swing. Chart is also shower a higher low from the previous trendling direction.
Over several weeks CADJPY has been compressing down, this current setup its taking favor of the existing support and resistance levels providing an opportunity to get bullish during the break of this phase. Pending Daily close above the support line will determine validity of the position. A 4:1 could be possible under the correct circumstances.
EURUSD daily showing potential dragonfly doji/hammer which will provide a temporary bullish pullback from the overall bearish sentiment. My stance is 2:1 long on daily close above the trendline, and when the candle is recognized.
Potential continuation of bearish momentum on nzdusd presents a potential low stop with large limit
List of probabilities
price below 50 EMA on daily, 4hour, 1hour
Price on hourly has rejected descending trendline
Price on hourly has rejected 50EMA respectfully
Hourly hightest candle on 50EMA
Momentum must show...
Potential short term reversal off of descending trendline on nzdusd. Friday momentum can play a factor into pushing this to the upside as traders look to close short positions (buying back their short sells)