RCtrader2

RCtrader2

The price has beautifully sketched 5 impulse waves on the weekly chart and possibly half of the 3 corrective waves. There is still time to trade inside the 3 corrective waves until the end of the year.

RCtrader2

The pair has completed half of the way to the bottom of the uptrend channel after breaching the 1.4000 area and reversing since. There is therefore some room left for the bears to dip the price further. We shall keep an eye on it. :)

RCtrader2

I presume that the pound will want to dive into the support area of the uptrend channel and then give us a surge into the resistance area again.

RCtrader2

After launching itself towards 1.2000 once again the pair has lost steam at around 1.1900 and now it seems it could retest the 1.1700 area.

RCtrader2

USA presidential election brought some volatility to the market from the start of this month. More is expected as the count of the ballots continues. The price seems to have created an uptrend channel and could trade inside through November and December. It also reached for a second time the 0.618 area on our Fibo chart.

RCtrader2

Trump testing positive for Covid-19 should devalue the dollar briefly, but the market might prove us wrong.

RCtrader2

If the price breaks 1.2950 level then the bulls could make a run towards the next fibo level(s). If it breaks 1.2900 then the bears will take the lead.

RCtrader2

If the price breaks last Friday's low and remains bearish, our next target is 1.1500.

RCtrader2

The pair moves graciously in the horizontal channel and should continue doing that till the end of the month. We look first to shorting the pair and then going long from the bottom of the channel.

RCtrader2

If the pound continues to strengthen, our next TP is in the 1.3035 area. That is if the daily SMA200 holds.

RCtrader2

It appears the price is producing a horizontal channel on the USDCHF 4H chart. One could say that that is an expected accumulation evolving after an earlier bearish trend. At the moment I look forward to shorting the pair with TP1 in the mid-area of the channel.

RCtrader2

After exiting its downtrend channel and uptrend channel earlier today, one could say that the pair is within a horizontal channel.

RCtrader2

There is an H&S lookalike formation on the H1/H4 chart, together with a bearish channel that might develop further. It so gives traders an opportunity to switch sides from bulls to bears and sell the pair. SL: 1.1840 TP1: 1.1730 TP2: 1.1650

RCtrader2

By the pattern created on the daily chart, eurusd gives a sense of wanting to go back to 1.0800 low. :) TP1: 1.1500 TP2: 1.0800 SL: 1.1270

RCtrader2

The TP1, TP2 and TP3 for our longs were hit yesterday and now there are clear signs for reversal. We are going short and aim for the bottom of the rectangle. Entry: 1.0900 - 1.1020 TP1: 1.0880 TP2: 1.0820 SL: 1.1020

RCtrader2

Though we are still in the weekly downtrend channel, the price could move in euro's favor now that it tries to bounce off from a rather strong support area. The chart clearly outlines our resistance lines due to lessening volatility in the market and feels somewhat predictable. Trading will most likely be influenced by MA lines (50/100) and harmonic patterns on...

RCtrader2

The pair has made a strong bullish run to previous support and moved even higher. My view is that that should cool down and give us a consistent retracement.

RCtrader2

The pair has finally moved out of its support area but reached an earlier support area that was produced during the price ascent. It, therefore, might retest these s/r levels before it moves further downwards. My general view for the pair is bearish.