we have a trend line deviation here, where we are expecting a market reversal in confluence with market volume and current strength.
So it does look like a short market reversal is taking place this could be a reversal before it continues onwards in a downward trend/direction before ultimately starting to shoot up again.
Fibs and trend and market structure are...
based of fib levels and GBP hitting a strong low expecting.a bounce back at least to some extent
US dollar may be dropping today end of week, lots of speculation of the virus hitting the us, few big metropolitan areas have seen a incline in cases recently even tho majority are not severe. it could still cause the speculation of us in pandemic to sell off GBP has...
usd jpy short we have the usd hitting. strong level of market structure against the jpy . with current market conditions expect it to bounce back to the . 236 , 5. and 618. on a strong market retracement
we have the eur hitting a strong point in market structuree so it should be be moving downward from here unless euro feds pump market full of volume and dollars to balance how the market sentiment is reacting but half way through the week should be a good time to call for short here
News being dropped on the eur today got back a few lower numbers than expected and a lot of countries being on quarantine in Europe because of the coronavirus we are going to short from the 4 hour structure line which is yellow to the monthly structure which is the brown line !
So AudUSD has just hit a key level of support and should be making a decent retracement up to get in for some good Pips.
3 take profit zones outlines and one stoploss zone .
The orange are strong levels of support and resistance
the thin pink lines are the ones I have used for sub zones of support and resistance.
Here we have all indicators pointing towards a downtrend
Stochasic - over bought
RSI- over bought
PRZ - confirmed
Pull Back Confirmed
trend lines confirmed
two outcomes after the huge pull back it may bounce off the resistance and continue back in the downtrend or it may break the resistance come back in the circle if it does not turn back...