Still favouring a move to the downside for this pair, i believe with a breakout of the symmetrical triangle and a close below 1.0800 support, we may test the 1.0500 support and would then like a new low to be made.
Currently short this pair from a 50 fib retracment, CTL break and retest etc.
I'm looking for a first target at the daily support level that is marked out and then if this is broken the -27 extension will come into play which is confluent with the possible channel support.
Currently short this pair from the broken monthly support and head and shoulders neckline break.
I'm looking for a target down to previous structure, 50 fib retracement and a third bounce from the weekly trendline at around 1.98-2.00 level in which I will then look for a reversal to the upside.
AUDUSD short setup:
This pair has recently sold off from the third touch of daily trend line it seems to have formed. Price has been somewhat ranging and currently seems to be forming a bearish flag/wedge like pattern. Price bounced from support and may have completed its C retracement at the 50 fib level which is confluent with the daily 200MA, however there's a ...
EURUSD 4 hour setup:
- Here we can see price found support around the 1.0460 mark and rallied until finding resistance at the 61.8 fib level
- Price has failed to hold above the 4 hour 200MA
-Triple top off the 61.8 Fibonacci level
- Price is now approaching the counter trend line and I will be looking for a short entry after a break and retest
- Targets will be ...