NZDUSD Weekly S/R| Double Top| 200 WMA| Price Action Evening Traders,
Today’s analysis – NZDUSD- trading at a key weekly trade location where a rejection is probable,
Points to consider,
- Price Action Impulsive
- .382 Fibonacci Support
(200 WMA Confluence)
- Double Top Resistance
- RSI Bullish Control Zone
- Declining Volume
NZDUSD’s immediate price action is impulsive above Weekly S/R, a correction is probable at a clear Double Top resistance.
The .382 Fibonacci is trading in its respective bullish control zone, remaining in these regions is indicative of strength in the market.
The volume profile is gradually decreasing; this is a sing of an influx being imminent when testing key trade locations.
Overall, in my opinion, NZDUSD is a valid short with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Don’t blindly follow someone, follow market and try to hear what it is telling you.” ― Jaymin Shah’
Bullishcontrol
CADJPY Daily S/R| Swing Low| .382 Fibonacci| Price ActionEvening Traders,
Today’s analysis – CADJPY- closing below Daily S/R where a rejection is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- .382 Fibonacci Support (POC Confluence)
- RSI Bullish Control
CADJPY’s immediate price action is impulsive under Daily S/R, being a strong level, a retrace and hold of the .382 Fibonacci is probable, this will allow for a long entry.
The .382 Fibonacci is in confluence with the POC, price action has an increase probability of respecting this level.
The RSI is currently holding its bullish control zone, maintaining in these regions is indicative of strength in the market.
Overall, in my opinion, CADJPY is a valid long after a retrace; price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work!
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
EURAUD Local S/R| Swing High| 200 MA| Price Action Evening Traders,
Today’s analysis – EURAUD- trading above Local S/R where a back test is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- 200 MA Resistance
- RSI Bullish Control Zone
EURAUD’s immediate price action is impulsive above Local S/R, a bullish retest of this level is likely due to technical confluence with the .382 Fibonacci, this allows for a bullish bias.
Swing High is current objective, this will also take out 200 MA, increasing the probability of testing upper Local S/R.
The RSI is trading in its respected bullish control zone, remaining in these levels is critical in order to maintain strength in the market.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt