The present support zone will act as wave 4 where the internals have a-b-c waves , being wave a = wave c . If the level intact, the price will move up as depicted on the chart.
After a long rally from an ending diagonal of wave 3 the pair is forming a Head and shoulder pattern. The breakdown of the neckline will bring the prices down to the previous supported as shown in the analysis.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.096). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDNZD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic...
Bullish H&S finish
EUR/AUD has made multiple tops and once again the volumes is decreasing, can be a good short sell opportunity near 1.65100 once a lower low and lower high is made. with SL above the multiple resistance zone. Views negative if hourly close is above 1.65550 before doing the breakdown.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.102). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDNZD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic...
I will go LONG on AUDUSD because: 1) The price is under Support/Resistance zone. 2) It has touched the support and may reach the resistance zone . 3) Target would be the Resistance area . Book profit when it reaches the resistance zone . 4) The price is also forming a Chanel or Rectangle Pattern .
Trade Setup summary: Profit targets=863 pip (60 + 110 + 173 + 230 + 290) Stop Loss =120 pip Reward/Risk > 7.2 : 1 Current Status: Total Profit: 649 pip Closed trade(s): 649 pip Profit Open trade(s): 0 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 1.0676 based on 'previous Forecast' at 2020.07.27 : Closed...
Hi, Thank you for clicking on my scenario. In this scenario, I see the formation of a channel pattern. The red line above is the resistance that keeps the price on hold to go up sharper, and the green line below is what keeps the amount going up and doesn't go bearish. Still, now the price has broken the green range meaning the trend from AUDCAD to Bearish and...
EURAUD starts the month with the bullish move , let see
Current bullish trend may turn in the mid of the week
In this scenario, I see that AUDCAD will reverse the direction of the trend in the trendline which is quite strong and can continue to be bullish in this scenario of the acquisition ratio up to 1:3 and this is good enough for trading positions although only touching the target 1 ratio in getting is 1:1 and this is not too bad, in the scenario, I do not use entry 1...
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (75.2). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDJPY is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic...
Price may continue the uptrend, bounce from support. Wait for perfect setup and long
Hello Trades, As we have seen a good bullish move in the last week and currently the price is sitting at a key level of resistance.Now there are many sellers entering at this postion where in this would good opportunity to sell.Ensure that you use proper risk management with given StopLoss .Please feel free to Message me for your account growth and profitable...
Trading suggestion: . There is a possibility of temporary retracement to suggested support lines. if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . AUDNZD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. ...