EU has hit the support on the weekly, daily and 4 hour descending wedge.
Be prepared for a long movement with plenty of opportunities to enter.
Last 4 hour close candle supports the potential reversal.
NZDUSD has to be one of the most interesting pairs to watch currently.
We can see a weekly support level horizontally (orange box)
Also the Incline Monthly trend line
Potentially a good area to long purely from a technical swing perspective.
USDCAD Has broken the 4 hour up channel and is currently retesting, turning supporting into resistance.
If short, there is a opportunity to get in currently or upon breaking the previous low.
This trade will be a long term trade, but holds great RR opportunities
11 Consecutive down days for price to move from daily resistance to daily support within a descending channel.
Opportunity here to take the price from .68 to .70 area.
Wait for confirmation but this is a great swing trade opportunity.
Gold is extremely bullish, but has had multiple attempts to break through the 1350 zone without any luck.
Just a possibility - we may see gold pullback before a bigger bullish move. One scenario was the short term support breakout (back to 1400 and then retest at the 1440 zone).
TP1 - 1400 zone (short term support zone)
TP2 - 1340-1360 (Previous...
We can see price has been in a down trend for a long time and has respected the key resistance line.
Upon price touching and then moving downwards, I am looking for a sell entry on the AUDUSD.
Watching this market for now, happy trading.
Gold is very parabolic currently where the upwards momentum has nearly become vertical.
Bitcoin has been a great example of where the momentum upwards was followed by the same momentum downwards.
This is just an idea for journaling and testing purposes where we may see the 1310-1320 range again, before a very quick sharp move upwards towards previous SR...
EG has been trending downwards within a 4 hour channel for most of 2019.
We can see on the chart here and parabolic movement from the bottom to the top of the channel and momentum is slowing.
This is a long term swing trade - but the RR is huge.
AUD is going to be one to watch this week.
Whilst the past week has shown strength in the AUD, the end of the week has shown and interesting pattern - getting ready for 2 scenarios. Because of the weak volume at the end of the week, the data is too choppy to make a definitive call either way.
1: Short - .706
- Price broke the 60min channel last in the week with...
GU has tested the 1.30 area multiple times on the 4 hour chart over the past few weeks.
From here we are expecting a move up to the 1.33 zone, especially once the 1 hour resistance downtrend is broken.
EJ performed like a boss last week, with a break of the short term wedge resistance area and then powered up.
If you didn't catch the breakout - don't worry. With price currently overbought, we can expect a pullback to the 126 zone as the has been a previous support/resistance area for the pair.
The 126 zone will provide a good R:R entry point for those wanting...
AUDUSD has been selling off for months now and getting ready for seasonal longs.
Whilst the trend is overall still down and forming this long term wedge, price at the .708 mark has been tested at least 6 times previously and RSI showing as over sold.
The short term trend will be to the .72 mark, but after this I would expect a pull back to the .715 range...