MarketBreakdown | EURUSD, USDCAD, USDCHF, GBPAUD
Updated
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1️⃣ EURUSD - 4H time frame
The pair is still trading on a strong daily horizontal resistance.
On that, the price started to consolidate and currently trading within a local horizontal trading range.
Wait for a bullish/bearish breakout of the range to buy/sell the pair.
2️⃣ USDCAD - Daily time frame
The market is trading within a major falling parallel channel.
The price formed a double top formation with a lower high on its upper boundary and broke the neckline.
Bearish continuation is expected.
3️⃣ USDCHF - Daily time frame
The price is trading below daily horizontal support.
The structure is considered to be broken and bearish bias remains.
4️⃣ GBPAUD - 3 Days time frame
The price has recently broken and closed below a support line of a major rising wedge.
Now we see a pullback.
The retest of the broken wedge will give a safe point for shorting opportunities.
Let the price reach the broken trend line and look for intraday confirmation to open a sell position.
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