After failing to break the 4H resistance, I expect a pull back on the pair to the Green dotted line before retracing to the top to Test the resistance line again. Overall trend for the pair is Bullish; but short Sell trades could be taken before the major Bullish move.
On the 1 Week, price has failed to create a Higher High to break the Weekly Resistance (Fib 0.50); instead created 2 Lower highs. A break of a Lower Low beneath the Weekly Trendline will confirm The Long term bearish Trend. Fib 0.382 has held strong since November and has proven to be an area of rejection/ confluence.
Inverted Triangle forming on the 1 week so a...
Overall Trend is Bullish, so we're looking for only Buy positions. After breaking out of a strong area of support and retesting, I expect the Bulls to push higher out of the current down trend. If you look to the left it looks like a Head and Shoulders pattern is forming; left shoulder and head has already formed and right shoulder is in the making. If price...
Price is currently sitting within a strong Resistance zone and has already retested 4H Resistance twice after breaking away from previous Bearish trend. I expect price to resume it's Bullish move once it breaks out of the Resistance zones (+4H). A Higher high and higher low is expected to confirm the trend.
Entry Point @ 79.253
Looking to take a short trade here due to the LH and LW being created. A break below the Yellow line which is the current support zone will be my entry. 100 pips profit for the taking. Risk Wisely and compare with your analysis.
AUDUSD:
Weekly: Bullish
Daily: Bullish
4 Hour: Reversed Bearish Trend
After a false-break of the Bullish uptrend on the weekly trendline and failing to continue it's bearish downtrend; I see a retracement back to the original bullish trend in the form of a bullish flag forming below the 4 Hour resistance line. My Bias: The area beneath the 4 Hour Resistance line...
Weekly: Bullish Trend
Daily: Bullish Trend
4HR: Bullish Trend
After bouncing off the Bullish trend line on the Daily Support region, my bias is that the pair will rise towards the recent 4 Hour Resistance region then come down to retest the 4 Hour Bullish trendline once more before breaking above the 4 hour resistance. Once 4 Hour reistance is broken, I expect a...
After breaking Bearish trendline on the 4H Timeframe and heading towards the Daily Resistance area. Uptrend will continue once Daily Resistance is broken; heading towards Fibs Extension .618 and .786 area before retracing to continue Bearish trend on the Daily Time-frame.
