Am expecting the 1.31000 key dynamic area of resistance/support to be tested price has been respecting the weekly trendline, inability to break with candle rejections. MA is in confluence with the area of support. great risk/reward trade.
Am expecting the price to form a new leg higher and retest the key structure in which price was consolidating at around the 135.500 regions. The sterling has in my opinion overextended into the lows due to political risks in the economy however, from the technical standpoint momentum is being picked up.
quite a simple intraday position, expecting the 0.7000 psych barrier to be broken to the downside to retrace towards the highlighted region, which is also in confluence with the trendline. -great risk-reward
price has approached a key area of support around 1.7700 region which is in confluence with the key weekly trendline acting as support too, in addition, the price has extended into the lows to form a new lower low, could expect some form of retracement to the upward region of 1.8000
135.50 has been a key area of support with weekly rejections around this region, an inverse head and shoulders pattern could be formed around this region before reversing and extending higher towards the 138.000 weekly barriers. -message me privately for signals and questions
price has overextended into the highs of 0.9000 which is a key psychological level, looking closely at candlestick behaviour we see wicks rejecting the highs showing a slowdown in momentum into the regional area of 0.9000 which has several confluences acting as a resistance. Fundamentally, the strength of the sterling ahead the next couple of weeks(lowered chances...
A brief annotation as to what is technically clear, price is creating a head and shoulder pattern, creating swings of higher highs and higher lows. Also, taking into account the global slowdown and us potential rate cut could drive prices to create a new swing low to 0.96000 region.
although the price is consisting of lower highs and lower lows, the monthly candle closed as a spinning top around the 108.000 regions. Therefore, the price could respect this region and alternatively reverse and retrace to the key weekly area of 110.000 which is also in confluence with the 61.8% retracement zone. What could invalidate my bias is if we have a...
Price extended to the highs of 1.14000 with a significant weekly candle, conveying huge institutional demand, however, this is a key daily barrier il wait for any signs of rejections as the price could retrace to the 1.1300 price region before extending even higher.
Price has approached the key daily barrier of 1.27500. If today's candle can close as a spinning top/ Doji we can anticipate a potential short to the psych zone of 1.26000 in confluence with 61.8% fib level, to form a right shoulder before the sterling extends higher.
price is rejecting the trendline, in addition to the trendline acting as an additional confluence risk reward great, it's a 1:2 ratio
Price has clearly overextended into the region of the yearly low of 135.67 which we previously tested but managed to hold, seen as this is an institutional demand zone we've had daily rejection around this region suggesting that buyers have taken profits and sellers may be looking to reverse the market, however price could consolidate around this region for a bit...
price has made a lower high and is currently respecting the trendline and is in alignment with the 50% fib extension Grear risk-reward trade of 1:3
the previous weekly candle closed as a bearish engulfing candle, the sentiment still remains uncertain and pessimistic around the sterling currency, however, price is rallying towards a key dynamic area of support in which we previously saw some institutional demand, the psychological level is also in alignment with the key W trendline acting as support. This...
Price has tapped the 76.8% retracement line on a bigger time frame at the 0.89400 with last week candle closing as a spinning top hinting that there could be a reversal due to a slowdown in momentum of buyers however with this week candle looking like it could close as a bullish candle what would confirm a reversal is if this daily candle closes below 0.89302,...
As expected last week candle closed as a bullish engulfing candle to reach the highlighted region area which is in confluence with 61.8% retracement line to form a right shoulder. However, price will be closely monitored around this region due to key fundamentals ahead this week, e.g fed rate talks on interest rates. Many investors are expecting dovish sentiment...
As previously mentioned EUR/AUD has overextended into the yearly highs price region, even though we should be expecting a retracement price can be easily manipulated around this region especially ahead of a lot of fundamentals data from ECB and AUD policy details out this week that could easily be a key driver in market activity. Awaiting for a potential 3rd drive...
ideally, the price could tap the -27% retracement zone or spike above to the key minor resistance before reversing