The chart is self explanatory. It is taking support from the bottom , making a wedge pattern .
This is not an trading idea . Just for education
Happy trading
USDJPY: We had plenty of opportunities in the past hopefully we will get another good trade again. Though the market is standing at a very strong resistance, still market is not going down. It clearly shows the presence of BUYERS in the market. And considering the trend of the market, we should mainly look for BUY opportunities only. Option 1: If market retraces...
On the weekly chart we can see that after an uprun of 1400 pips GBPAUD is retracing, taking rest. Though it has slipped below the weekly support of 1.8670, still we saw some price rejection from below. Therefore, If price goes up from here and and start trading above the safe zone of 1.8670, we can BUY with an SL below the support. TARGET: 350-400 pips
Pound against Dollar , is looking to touch the Support line which was a major Resistance line for long time at 1.30650 , price action suggest the down movement in this week,
Only for Education purpose..
Gold against Dollar , expected to make a bearish move this week, in weekly chart ,last week it finishes with long tail doji bar, which indicates a bearish move on coming week strongly..
analysis for education purpose only,
The daily is turning down against the March highs at 111.68. The 4 & 1 hour are turning up against 103.14 to correct the cycle from the May highs. While above 103.12 the pair can see strength toward 107.00 before a turn back lower.
Sell @103.85-104
TP: 103.25
SL: 104.20
Good luck !
The daily is turning down against the March highs at 111.68. The 4 hour is turning down against 106.11 October high. While below 105.34 the pair can see further weakness toward 102.50 to 102.00 before a bounce corrects the cycle from the 106.11 October highs.
LONG USDJPY
@104.50-104.20
TP: 106.00
SL: 103.80
Good luck !
The daily right side is up against 8/16/2018 low at 1159. The 4 hour is turning down against 2075. While above 1848 where the hourly is turning up Gold can correct the cycle lower from 2075 before another swing lower to correct the cycle up from the March lows.
LONG @ 1900-1897
TP: 1930
SL: 1886
GOOD LUCK !
The daily is turning up against the March lows at 18178. The 4 hour right side is up against the 6/15/2020 lows at 24430. The 1 hour is turning up against 26394. While it shows it will remain above there the index can extend higher toward 30500 in the cycle up from the March lows.
Sell @27680-760
TP: 26200
SL: 27880
Good luck !
The larger correction against 2009 lows is proposed complete at 8249 on 3/16/2020 where the daily and 4 hour are turning up. The 1 hour is turning down against 13462 to correct the cycle from the March wave ((2)) lows. While it shows it will remain above there the index can can see new highs toward 14000 in the cycle up from the March lows.
SELL DAX...
The daily is turning up against the March 2020 lows at 1.1412. The 4 hour is turning down against 1.3485. The 1 hour right side is down against 1.2866 to correct the cycle from the March 2020 lows. While it shows it will remain above there later it can see another swing higher to correct the cycle lower from the 2018 highs at 1.4384.
BUY...
the daily right side is down against 156.78. The 4-hour right side is up with a bullish sequence against 131.71. While above 138.20 where the hourly right side is up with a bullish sequence it can see a swing higher toward 147.38 before ending the cycle up from the March lows
Sell @140.90-141.10
TP: 140.10
Sl: 141.33
Good luck !
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 .
The weekly right side is down against 1.4393. The daily has a bearish sequence however is turning up against the March 2020 lows at 1.1412. The 4 hour is turning up against 1.2244. The 1 hour right side is up against the 1.2646 lows. While above 1.2244 low expect the pair higher toward 1.3200 before it corrects the cycle from the March 2020 lows.
Short term...
The daily right side is down against 147.75. The 4-hour is turning up against 131.71. The 1 hour is turning down against 136.62. While above 131.71 it can see a swing higher toward 142.00 before it corrects the cycle up from the March 2020 lows.
BUY GBPJPY
@135.05-134.85
TP: 136.00
SL: 134.50
Good luck !
The 4 hour is turning up against the 3/16/2020 lows at 8263. The 1-hour right side is up against 12544. While above there, more importantly the 6/15/20 lows the index can can see new highs in the cycle up from the March lows.
Sell Dax30
@13025-13060
TP: 12820
SL: 13150
Good luck !
The 4-hour is turning down against 1.9927 high seen on 3/19/2020. 1-hour is turning up against 1.7153 low. Near-term, while dips stay above 1.7153 low, expect pair to extend higher to correct cycle from 6/11/2020 peak as a flat before downside resume.
Short term trade
EURNZD LONG
@1.7360-40
TP: 1.7480
SL: 1.7310
Good luck !
