S&P 500 nearing 10 year highs as price has been surging for almost a decade, if price fails to close above the resistance zone. we could see
a double top in action, pulling price back to weekly support levels.
Yen has been in a rather bearish mode since the abandoned baby formation that formed a few months ago, I see a potential bullish correction in the week ahead. but leave some expectations for a break below t the current support zone back into the downward move.
Price has been ranging on weekly with distinctive lower high patters , I see price move up one more time to the upper range to either retest the Resistance zone or the broken triangle.
This effect may follow up in NZD strength throughout the NZD minors.
EG on double top weekly setup, and daily bearish triangle formation, price expected to range for some time before making its way to the lower support on the weekly range band. sl = 0.91200
about 1:6 ratio, see tp as partial exits till the end of the range support.
UC triple confluence
Retest of major weekly support and retest of major monthly broken downtrend and retest on weekly uptrend support , reversal hammer close on weekly, we look for possible retests next week before ascending to 1.33-1.35
I have 2 possible price levels to short this market from, this pair has broken through the weekly uptrend and is making way to retest, the current h4 medium term resistance downtrend may suffice for scalps but not for swing as price may still make way with the bulls towards the white weekly trendline before is descends for a swing once again in the weeks if not...
EG has broken heavily to the upside and once again is testing the highs of 2017, price could still surge to 0.91000 range , but if a bearish engulfing daily candle close presents , will be seeing major push to the downside.
This market is presenting a bearish wedge on daily and could break and retest if techs present merit.
Euro has found strength in bulls in all majors, but this turn of events could be meeting a turning point soon enough, Short only valid after a bearish engulfing daily candle close. Do not just enter this trade without daily or weekly candle stick confirmation.