I'm long on the AUDUSD for the foreseeable future, here is a low risk to high reward setup that I am doing following a mid term trend that's been established since early June 20'. DYOR - not financial advice. Almost a 7:1 reward vs risk ratio on this. Time frame would be the next week or 2 for this to play out for myself
Inverted hammer candle forming on the weekly's could be a great BUY from very long down trend where the AUD/USD was at 1.06
-hit oblique support
-looks like a fake break of 0.6720 strong level of support
I have bought from 0.6750 with my stops set at 0.6650 and TP1 at 0.70
-3.5:1 reward to risk
USDCAD forming a ascending triangle, price action entered on a negative trend suggesting a bearish exit, breakout looks imminent if correct, my stops are set just above 1.38 with a long term take profit traget at 1.25. Entry suggested closest to strong weekly resistance line
descending wedge and lines of support and resistance suggest entries for sells and buys following negative trendline. Descending wedge suggests a longer term bullish trend so a break from 1255-1240 for the upside and highs forecasted by Goldman Sachs of 1450 line up with this...
EURUSD has been trading within a predictable pattern and range. With US GDP tonight expected to be bearish and no major Euro data, EUR/USD presents a good long opportunity after the dip from US dollar strength and bad German data. Also great entry point for a sell at the top of the descending channel. Yellow support line hasnt been broken since June 2017.