UPON MARKET OPEN, WILL BE LOOKING TO SHORT USDCAD
I CAN SEE PRICE COMING BACK TO RETEST THE WEEKLY RES LEVEL OF 1.2907 BEFORE MOVEMENT TO DOWNSIDE
TARGET FOR THIS PAIR IS 1.26 TO BE HIT SOME TIME IN JANUARY 2021.
MORE USD WEAKNESS
Currently in weekly bearish trend. Weekly channel. 61.8 Fib. Weekly Resistance. Whole lotta confluence!
Short Short Short
1.033 within the coming weeks if current resistance is respected.
Price broken out of weekly resistance. Within the next few weeks we could see price pull back towards this former resistance turned support. From this level I am anticipating price to reject this support and continue on its uptrend up into the price of around 1.235
My bias for this pair is long long long. IF WE SEE A BREAKOUT AND RETEST OF THE LEVEL 1.866 WHERE ITS CURRENTLY AT I WILL BE BUYING AND SETTING MY TARGETS TOWARDS THE -61.8 FIB LEVEL. THIS COULD POSSIBLY BE A 1800 PIP MOVE SO WATCH CLOSELY
Like most EUR pairs my bias is short and this one is no different, i believe that this pair will come down to 1.34 in the coming weeks which is confluent with the -27 extension, the trend line channel support level as well as being a strong support level and a break below this could come down to the -61.8 fib extension.
My bias on this pair has been short for some time and i cant see it changing for the time being. I have already been shorting this pair and scaling in with long term tp targets in sight. I believe a break below the 1.8139 level could see this pair fall to first around the 1.3 level and a break of this could see the pair fall to 1.22 and possibly even further...
We've seem on the weekly a series of lower highs which touch the trend line resistance. The pair then breaks the trend line support retests it and falls to 0.94 where it finds strong support and we see a strong movement up retesting that trend line resistance and strongly rejecting it closing below the 61.8 fib and the 50 fib, Indicating strong selling pressure as...
ON THE DAILY TF WE CAN SEE THAT IT LOOKS AS IF THIS PAIR WANTS TO RETRACE. IF IT DOES RETRACE NEXT WEEK IT COULD POSSIBLY REJECT THE LEVEL WHICH IT GAPPED AND FALL OR REJECT THE 38.2 LEVEL BEFORE CONTINUING INTO A DOWNTREND. I WILL BE LOOKING CLOSELY FOR ENTRIES ON THIS PAIR THROUGHOUT THE WEEK. ALSO TARGETS MENTIONED IN THE PREVIOUS EURUSD POST MATCH UP WITH THIS...
After doing some analysis on the weekly chart ive found that the double bottom from the daily chart and the targets for the double bottom match to the target of a retracement to the 38.2 fib. So the upward movement we may see in this pair may in fact be a retracement rather than a trend change. I will be going long on this pair to the 38.2 retracement after a...
Still thinking short on this pair although we've seen a large upswing which is coming up to the 61.8 retracement level which is confluent with the upper resistance channel line. I believe this is the level to enter short with final targets set for 0.917 level. If however the pair breakout of the channel we could see it come back up to the level it fell from...
We've seen a double bottom which could signify the end of the downtrend. If i see a break above the previous low combined with a break of the downtrend resistance then i will be going long with tp set at 0.808
This pair has been in an uptrend and since hitting the 61.8 fib retracement has been going higher. I am now waiting for a breakout retest and continuation of the 0.9221 level to add to my position with overall targets at 1.011. Two confluences for this target are the -27 fib extension and also that it coincides with the trend line (resistance)