Broke channel, which means it now has a lot of potential to the upside. Buying in after the pullback and consolidation. TP is at next resistance. Watching fib levels up to that point for earlier resistance.
DXY made a little bounce and looks to continue the new downtrend. USDCAD broke to a new monthly low and I'm wanting to catch the little retrace before it moves lower. 50MA crossed 200MA for a confirmation in trend reversal. TP is at previous low found on the daily.
This is a hedge against my previous GBPUSD trade, betting on both sides of the dollar. One may fail, but they both have setups to be successful. TP is set at daily/weekly trendline (white line) that held as support for a long time and now is expected to become the resistance before a further move down. I'll look for resistance before that at the 23.6% fib line.
Price came down and rested nicely at the 38.2% fib line. This coincides with hitting the 50MA. There is 9R potential two fib lines up, but I'll be looking to take some profit before that.
Caught the reversal after a small retracement. Bought in after the bottoming tail candle closed and the new candle began opening above. It found strength again at the 50% fib line and has room up to the 78.6% where there is a strong zone. If it reaches that zone, I'll be looking for a short because this is is a long term downtrend.
Found support around 78.6% fib line, which has been a strong zone. This coincides with a pull back to the 50MA. RSI is in the middle, so plenty of room to move. Overall uptrend. DXY looks stronger.
Looking for pull back to 38.2% fib line which coincides with the 50MA, then push higher.
Range trade. Price hit strong zone again and looks good lower. DXY looks to be turning stronger now. Price is far above 50MA and RSI is overbought.
Entered zone, which coincided with a move back down to the 50MA. RSI came back down to the middle.
Extended run up. RSI overbought. Price should come down closer to 50MA before turning back to the upside. DXY is oversold and near the end of downward price cycle.
Extended far away from 50MA, RSI is overbought and turning down. Blue lines below are previous support areas where it could bounce, so I may take some off if it shows strength there.
USD has turned strongly to the upside after a pivot low on DXY. AUD is also strong with a huge move up on the AUS200, but looks exhausted and ready to drop a bit.
USD looks like it made a pivot low and is ready to turn higher on the DXY. GBPUSD ran up quickly and is consolidating. RSI is overbought and price is far above 50MA.
GBP rallied a lot in the last two sessions. Price is far away from the 50MA and RSI is overbought, turning downward now. TP set at previous zone that has been used several times.
AUD is in an uptrend right now with more room up until it hits the next supply area on the AUS200. GBPAUD price is far above 50MA and RSI is overbought, turning downward. I'll watch for a possible bounce at the 1.8500 support line, but it could easily come down all the way to the 1.8400 supply area.
USD is now gaining strength (DXY). RSI is in extreme overbought territory and starting to point downward.
The big rally broke through the channel it has been trading in for a long time on the daily chart (upper white line). This is a bullish move that suggests a turn in direction to the upside. Looking to catch a retracement to the zone that has been used several times. If price continues in the short term uptrend marked by the lower white line this will coincide...