After seeing GBPUSD break its bullish trendline and then having a strong sell off, we can currently see gbpusd at a strong level of support.
This can cause GBPUSD to correct heavily seen here on the daily timeframe (minimum 38.2 fib ratio.)
With confirmation i will be looking for STRONG BUYS.
We can see how CADCHF respected the highs of its range!
With the trendline break it will bring in new sellers driving the markets to our targets 1. I will be waiting for the outside of the trendline to be respected and used as confirmation alongside FIB confluence to trigger our entry.
We can currently see EURNZD at the range high, if it continues to respect this level we can find strong sells from this initial area!
Lets wait for bearish variation candles, and lower lows to be made to signify the reversal
We can see GBPUSD breaking out of our decending channel wall shoing more potential sellers coming into the markets!
I expect the highlest low to be our projected targets IF this market wants to push lower.
We have a strong inverted head and shoulders pattern (Bullish break out pattern)
And already a break and close above resistance showing strong buyers in the markets.
Lets usethe smaller time frames and buy the dips until our first target I.E previous daily price.
Audusd Has broken and closed above a daily trendline before market close.
Its retesting the trendline giving us a possible BUY entry. We will await confirmation.
If market opens and we see a close below we will consider it a fake out and continue with bearish momentum!
We can see CHFJPY at a strong price level (resistance) and has had trouble breaking above for weeks.
If the level of resistance is held we will look to sell this to 109.450
If our resistance is broken expect a climb up to our next zone of 114.260
CAN YOU SEE WHAT I SEE?
MARKET CREATING LOWER LOWS SHOWING STRONG MOMENTUM TO THE DOWNSIDE.
CONFLUENCE OF THE 61.8
RETEST OF PREVIOUS BROKEN STRUCTURE
WE WILL WAIT FOR FURTHER CONFIRMATION SUCH AS BEING PATIENT AND SEE IF IT MAY ALSO RESPECT OUR BEARISH TRENDLINE.
LETS SEE WHAT HAPPENS!