We can see a clear Trendline Breakdown + RSI Divergence. We can short below 1.22149 in 4H timeframe.
Always wait for candle to close and never make mid-candle decisions.
EURINR has been moving sideways with a downward bias over the last few days post the peak on Dec 3rd. The sideways move has traced an W-X-Y pattern. The pattern also resembles a 'FLAG' pattern as per classical chart analysis. Considering the previous sharp move , one can expect a continued upsurge following a break of the upper trend line
The subsequent move...
On a larger degree front , AUDUSD made a 3 down & 3 up wave formation which suggests that a FLAT pattern is in formation,as long as it maintains below the previous highs. An ending diagonal is forming on lower degree as wave-c which suggests that the 3 up formation is going to exhaust . We should see a five wave down rally if the flat corrective pattern is forming !
It is the analysis of nzdcad on 30 minute time frame.
You can see it's a beautiful trendline break, now price needs to retest the resistance zone after that we will short on NZDCAD.
