EUR/AUD started the week with a strong break to the downside. I have already taken two good trades in this pair so far and watching for continued bearish movement. Looking to get short again after the next pullback possibly forming at the area around the shaded box.
AUD/JPY is due for a major pullback after four straight weeks of selling and there seems to be slight hope for the bulls after the first consecutive up days in over a month, however without a strong break and close above the 65.54/65.63 zone on the daily chart, price is likely to continue to slide downward toward the 56 handle especially considering current market...
AUD/USD has been moving in a descending channel for quite some time now with a new yearly low recently set on Feb 7. Price looks to be attempting a retest of strong support and divergence can also be clearly seen on RSI further supporting the case for an upcoming reversal. Looking the fade the trend upon confirmation on lower (4h) timeframe.
With the RBNZ rate decision long over now, looking for the kiwi to continue to fall against the stronger usd. Looking at the daily chart we see that the pair has been in a pretty strong downtrend for a while and now retesting the 20 ema. If the 20 holds as strong resistance with confirmed trend continuation on the 4h, looking to short with first target at .6350,...
Multi-week price channel seems to be continuing to hold pretty well so far based on the daily timeframe, so lots of potential opportunities here based on key support and resistance levels. Currently, 4h showing nice potential double top formation. Waiting for confirmed entry to go short with target 1 at 141.50 and target 2 at 141.00
Currently testing the 200 ema on the daily timeframe. Will the 200 hold as resistance? Looking to buy if price breaks above the 200 on daily timeframe with timed retest and continuation on 4h. Looking to sell if downside move is confirmed by moving average on 4h.
So far, this trade is going well for me. Clear re-test of previous resistance on the daily chart forming a nice double-top with timed entry on 4H. I opened this position at 1 a.m. eastern time US and just moved SL down to lock in some profits on this one.
So far this week, the usd has remained relatively strong against the euro but is now testing the key 1.10 support level once again. I am watching the daily chart as always for overall market direction/conditions, but looking at the 4 hour for entry timing using simple moving averages to trade a bounce or break of this key level. If the bounce occurs, tp1 would be...