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Possible USDCAD BUYAs the recent market demonstrates a rejection of the bottom linear level/trend line - I think perhaps it is time for the Bulls to take over the market!
The market has approached a zone, which can be considered as a further confluence due to the fact that this particular zone has been a support in the past.
Considering the fact that rejection has occurred it is best to say that this is a 'INSTANT ENTRY' opportunity!
CADJPY – ANTICIPATE FOR A SELL OPPORTUNITY – TopDownAnalysisAs shown, the market is on a 4 hour down trend and reaching a trend line which has previously been rejected a few times. This is shown from the Trend lines drawn on this specific graph.
There is confluence in terms of the pair being considerably high on RSI, as well as considering the movements of the major corresponding pairs (USDCAD long + USDJPY short).
The pair is also reaching a resistance level as well as a Fibonacci level of 0.382 in which we can anticipate a further resistance.
We should therefore anticipate a SELL opportunity.
In terms of entries- enter NOW or wait for a further Bearish Indication.
Anticipation of a BULLISH Movement of the USDJPY pair.As demonstrated, this pair has reached to the bottom of the Daily Trend Line and has slightly broken through. When looking at the 4hr time frame, it is noticed that the pair is very considerably oversold on RSI. Instant entry or possibly wait for the market to reach support.
Possible SELL for EURUSD + Multiple Time Frame Confluence 1W+1DA GREAT OPPORTUNITY DUE TO MULTIPLE TIME FRAME CONFLUENCE
•1W - Current Market has reached the top of the weekly Trendline. The closed candle that had occurred for this week suggests that a strong rejection has occurred when observing the length of the wick. This long wick above the body suggests a rejection of the linear level which can therefore be followed up by possible bearish movements.
•1D - Current Market has also approached the top of the daily Trendline. (A considerably strong trend line which has been obeyed very nicely for quite a while now) , which was then followed up by bearish movements.
In regards to entry, this can either be an instant entry or a further bearish indication can be anticipated on the 4hr Time Frames.
GBPAUD buy potential!!As we can see GBPAUD has broke through 0.5 fib level in a 4 hour time frame and rejected of 0.382 fib level and quickly made its way back to the entry of the candle,suggesting that there is strong buying pressure available. Aiming to use 0.5 fib level as a form of support for buying pressure
CADJPY Potential LongAfter a 250 pips move to the downside over the past couple days, a correctional move to the upside is to be expected.
Currently showing rejection off the 82.000 psychological level.
USDCAD: Sell
USDJPY: Buy
However there is some resistance at 82.300, at the 0.382% daily fibonacci retracement level.
GBPUSD Potential Long GBPUSD currently trading in an uptrend on the daily timeframe.
Support at the 0.618% weekly fibonacci retracement level.
Support at EMA 200 & 50 on the daily timeframe.
GBP currently showing as weak while USD appearing strong, indicating a possible change in momentum.
Ideal entry would be at 1.30600 technical support.
As brexit discussions are still in play, abrupt volatility may be expected.
EURUSD Potential LongEURUSD currently in an uptrend on the daily timeframe, along with possible a break and retest on the weekly trendline.
Support at 0.786% weekly fibonacci retracement level.
Trading above the EMA 31, 50 & 200 on the 4hr timeframe.
EUR currently showing as weak while USD appearing strong, indicating a change in momentum.
Ideal entry would be at 1.13650 technical support.
If the 1.14000 psychological level is broken this could suggest further bullish movement towards 1.1448, the previous daily high.
EURGBP Potential ShortEURGBP currently consolidating between 0.85000 & 0.87000 psychological levels.
Resistance at 0.618% weekly fibonacci retracement level.
Trading below the EMA 31, 50 & 200 on the daily timeframe, if EMA 800 is broken it may be further confluence suggesting bearish movement.
Ideal entry would be at 0.86100 support & resistance level.
If the 0.86000 psychological level is broken this could suggest further bearish movement towards the 0.85400 technical support level.
CADJPY Potential LongCADJPY trading in a uptrend on the 4hr timeframe, suggesting further bullish movement for the short-term.
Trading above the EMA 31 & 50 on the daily timeframe.
Ideal entry would be at 83.585 technical support level.
If the 84.000 psychological level is broken this could suggest further bullish movement towards the 84.500 resistance level.
NZDJPY Potential ShortNZDJPY break and retest of a bearish symmetrical triangle.
Resistance at the 0.618% monthly fibonacci retracement level.
Trading below the 800 EMA.
NZD indicating as currently strong, with JPY gaining strength.
Ideal entry would be at 76.500 support & resistance level.
Swing trades targeting for the 76.000 psychological level with a potential intraday trade targeting 76.300.