The pair is rejected at a strong level of resistance of both weekly descending trendline + weekly supply zone.
A double top was formed on H4 and the neckline was successfully retested.
A break and retest of the current support could lead to more downside pressure.
Price making clear movements and is currently in a bull flag. Awaiting one more touch of the bottom of the flag before going LONG.
Target: Bull flag ceiling
2nd Target: -27 fibonacci
Price making clear movements and is currently in a bull flag. Awaiting one more touch of the bottom of the flag before going LONG.
Target: Bull flag ceiling
2nd Target: -27 fibonacci
In the CHFSGD currency pair chart, we see a continuous triangular pattern. That's why we expect to see a sharp drop in the price of the CHFSGD currency pair if the price goes down from the triangle.
The price is likely to drop to 1.45387 and you can put your target there. If you can't risk much, set your first target to 1.46000.
Note that the condition for...
EUR/CAD has fallen back into the Descending triangle pattern that has formed on the 1D,4HR,1HR chart.
With a strong rejection of higher prices, false break of the pattern and no immediate retest of these levels my bias is strongly toward the downside, I hope for the pattern to break to the downside and see a return back to normal prices before the outbreak in march.
The last 3 days have spooked some investors who think this is the top and now we're in for much lower prices. That may be true, however from my viewpoint, the trend has not changed. We are still trading well above the cloud on the daily. We are flirting with a bearish cross over on the 4H 50/200 and already crossed on the 4H 50/100. However, If you step back and...
Looking to see the 'W' Pattern complete then retrace to the key level before rallying upwards.
Keep an eye on this pair and see how this plays out over the week.
Happy Trading
so the price has been pulled back to 0.38 fib level so we expect to see a continuation move to downside and we can spot candle stick confirmation on fib level as well doji along with engulf candle stick so we enter at qmarket opening time with a little stop loss so the R:R ratio seems solid for take profit we are expecting to see the price touch the lowest point...
