Watch out! MANA is forming a rising wedge (Bearish)BINANCE:MANAUSD is forming a rising wedge which typically has bearish implications. If it breaks down from here and gives a daily close below the lower channel line of the wedge then prices may potentially fall below 2. No harm done till the channel isn't broken on a closing basis. Keep an eye!
Breakdown
btcusd shortBitcoin has broken its uptrend. Currently, it is retesting its breakdown. It has tapped the first trendline and can go a bit higher to retest the top trendline, but has already hit an important 0.618 fib from the previous ath to swing low. Looking for a daily candle with a long upper shadow or strong rejection candle at close for confirmation to short.
EEM Possible BreakdownEEM is looking weak at the bottom of this range its been in for a few weeks, if market sell of continues we may see this break below 49/48.75 which is a clear break of the channel support. Next key level below 46.25, may see sell off to this level before prior bulls come in to defend.
USDCAD - Facing a Critical Resistance area!USDCAD has faced a critical resistance area with a trendline resistance at 1.27500. This resistance is behaving a strong zone and now as the sentiment is not good maybe it will get respect again. So if sellers are still incharge they can easily drag the price towards 1.26500 to 1.25500 level or further towards the next support zone. On the other side if the buyer gets control (although not easy at all) they can push the price to 1.28500 and that is a fib level resistance also. On breaking that level than can eye 1.3000 level. Good Luck!
NZDUSD - at Strong Horizontal SupportNZDUSD has touched a strong horizontal support area at 0.68000, which was tested and respected before. There is also a channel trendline support available there. Now if buyers are eyeing this area they can enter and pull the price towards some of the key areas in the near term around 0.68500-0.69000 followed by 0.70000. And if sellers successfully break this support they can drag the price towards 0.66500 area. Good Luck!
NZDJPY - Bearish activity could trigger!NZDJPY has already broken the strong resistance zone around 79.00 and traded below. Now, what is the possible scenario? It could drop towards the 77.500 level where the support of fib level 61.8% lies with a trendline, if this confluence has given respect then we could see a bounce towards 79.00 again if failed then77.00 level will be open. Good Luck!