BTCUSD has reached resistance zone and delving into lower timeframes, I see that price is in a channel where it has reached the blue resistance line as well as the yellow resistance line which is 2 confirmations.
Price than came back down and formed a bearish flag pattern which is creeping back up the yellow resistance zone. Waiting for retest off that area...
Euro has its ECB meeting couple days ago and the market was looking very bearish news came out.
Weekly timeframe shows no indication of momentum however, if we delve into the daily we can see a bearish flag pattern.
Inside that pattern, we see 2 bear flags on the 4hr and 1hr as well which shows the continued momentum the sellers have. Remember guys impulse and...
eurgbp rejected weekly zone (purple) and broke through daily zone (green) as well. Price retraced back to daily zone but fail to touch it but price created a 4hr zone followed by rising wedge.
Waiting for breakout to confirm bearish move.
USD/CAD has reached daily resistance zone (green). Price went on to make a rising wedge after with a retracement of 0.7 from previous HIGH at weekly resistance level (purple).
Price than consolidated for a bit ranging between 1.347 to 1.340 with price creating a new 4hr resistance zone...
If you saw my previous analysis of this pair, I went short on this from the recent rejection of weekly resistance (purple). Price has now come to support (purple) and has tested this 4hr area (yellow). Waiting on price to drive lower towards weekly support so I can go long but the setup at the moment is bearish.
short term bias of trade is bearish but long term...
price kept on following this ascending trendline for a while while breaking a descending trendline and creating a 4hr support zone (yellow).
Short term bias in bullish but long term bias is definitely bearish due to major weekly resistance zone (purple)
cadnzd came towards daily resistance zone (green) and has rejected this zone about 4 times now so I am hoping price does the same things again. Price then created a rising wedge which broke out and retested daily zone one more time.