From this analysis, we can see a bullish falling wedge has formed with a double bottom at support. This is giving me confidence for a strong bullish movement incoming.
Confirmations of Long Entry
Daily Impulse Correction
Double bottom at support with the neckline at resistance
Break and retest of a double bottom or trend line for entry
USDCAD has broken out of its consolidation range and has given a nice retest of the previous structure of price within the 61.8% fibo zone. WIth bullish movements of this zone will indicate a new impulse in the market to take it to the upside.
EurJpy has Been on a strong bull run over the previous weeks Breaking out of a price channel and has now come back for a retest with huge confluence building giving a high probability trade entry.
However, as this is Easter weekend we can expect little movement until next week midweek.
Confirmations for Long Trade:
Hidden divergence suggesting...
If we can Get a large candle to break the green highlighted zone with a retest we can expect it to fill the wick in which buyers have been trapped in.
Confirmations for trade:
Large candle breaking zone
Retest with candlestick confirmation(rejection/reversal pattern)
GBPAUD looks like it is setting up a textbook midweek reversal showing signs of long opportunities on the higher TF.
If this zone does not hold for the long can expect GBPAUD to break and retest to the next zone
GBPAUD has been struggling to break below the Support, With Large divergence forming on the H4 timeframe and structure being formed and respected I am bias to seeing a long impulse coming.
I see either of the two scenarios:
Price Breaks through zone and retest to start its bullish run
it respects the zone and pulls back to give second entry into the trade to Form...
We can see here GBPAUD has made new lows, broken the long term trend line and rejecting at the resistance zone to find confluence with the 38.20% Fibonacci level giving a sell indication.
Confirmation for trend reversals:
Trend line break
Support/resistance break and retest
Fibonacci level retest 38.20% - 61.80%
GBPNZD has now completely retraced from the last push to the upside, Gbreaking a key zone and forming a neckline to give us a potential head n shoulders early entry. With Fib clusters at the entry zone and notice the large supply candle it is also 50% giving us a strong confluence sell target area in the market for a continuation to the downside. To add confidence...