EURUSD broke the strong resistance.
It also broke the dotted trendline resistance and retested on it to go even further.
It is now approaching a higher, and stronger resistance.
We are looking for sell opportunities on this pair...
A double top might form on the 4 our timeframe, after a bearish engulfing candle we can sell.
SL : 1.1900
Target 1 : 1.1800
We have a double top on this pair, and some bearish engulfing candles.
The pair failed to break the resistance at around 1.51200.
It is heading towards the channel support.
This is a good selling opportunity.
SL : 1.51200
Target : 1.4900
USDCAD D1 rejected the resistance at 1.29.
At the moment we are in a downtrend.
Should it break the 23.6%( 1.27 ) Fibonacci level we will sell it.
Our target will be at the 38.2%( 1.26 ) Fibonnaci level.
Stop Loss : 1.29100
We see a Head and Shoulder pattern has formed on the GBPJPY H4 chart..
The pair has made several touches to the trendline resistance and failed to break them.
On the Daily chart we also see a downtrend.
Let's expect a long term downtrend.
There's a minor support at around 148.650 level.
Our First target would be the 148 level.
The pair has reached a very strong D1 resistance.
We see several bearish engulfing candles at around that area.
A good entry would be after it breaks the 113.400 support.
The green lines are our targets.
We have a trendline resistance which was tested once recently, at around 1.00400. We might see a double top forming there.
A good entry for a long term downtrend would be at around 0.99400 after it breaks the support.
We might see another bearish engulfing candle forming.
The pair has broken a couple of support levels, it has joined the channel again and it seems to be continuing the downtrend.
After it reaches our target, it might make a retracement at 1.32 in which a Head and Shoulder pattern can be seen.
It has not yet reached the channel's support, which is our target for this short position.
The weekly support at 1.21 now acts as our resistance.
The US Dollar Index is Bullish on the weekly chart,the USD is gaining strength against most currencies.
This pair has made a breakout of the trendline support.
We might see a possible retest of the 1.185 level.
A good entry would be after prices break the support at 1.17. We have three targets for now,...
I foresee USDCAD to rise. We might expect to see a reverse Head and Shoulder pattern forming on the D1 time-frame.
A great Long ( buy ) entry would be after the second shoulder has formed. We will then expect to see a Bullish Engulfing Candle at the support, which is a great confirmation to go long.
H4 time-frame can also be used to identify a good place to enter...