EURGBP continues to hold above key support. Hi traders, today we are looking at the EURGBP as buyers continue to hold out above a key level of support. This level has been in play since January 2023.
The level we are talking about is seen at .8730, and it also runs down to .8720. This level is seen as a key level as if you switch over to the weekly chart, and you will also see this level clearly. It’s good to see support levels on multiple timeframes, it can also be seen on the 4h, but we are watching primarily from the daily.
After yesterday’s failed test lower, buyers have control today. We would like to see a new move to test or break .8808. This move would not only continue to confirm support, but it could also break the current downtrend and start to confirm a breakout of a descending triangle pattern. If we see an upwards break, we will look at the two higher red resistance points as possible areas of rejection.
If sellers regain control and take price back to support, this is a worry and could suggest buyers' numbers are not that strong, and sellers could be looking at new lower tests.
Do buyers have the number to continue today's move higher?
Good trading.
Currencytrader
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A Buy Setup On USDJPY With Multiple Ways To EnterAnalyzing the USDJPY forex currency pair I see multiple ways I can enter this trade. In this video, I am going to explain 3 ways to enter this trade. Please take notes and remember that this analysis is per my eyes. Please enter at your own risk.
If you have questions or comments please leave them below and let's converse.
CADCHFWhat's up guys!
I'm looking for buy setups as price is in a downward trend and approaches the lower trendline of the major daily channel indicated in Yellow
If you look on the larger timeframe you notice that price in overall bullish in the channel indicated by the upper and lower yellow line
Everything intersects and I fancy this classic setup , I'm waiting for the break of the green trend line to show the bulls taking control and see price head to the upper Side of the channel,
A cross of the EMAs will also be a good confluence , what do you guys feel ?
Potentially Strong Reversal Coming SoonAUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing.
Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period.
Scaling into the 1HR chart, we can see the formation of a descending wedge in place of the consolidation period of the 4HR chart.
All these descending chart patterns in multiple timeframes indicate that a strong reversal is on its way. If you're watching this pair, I hope you can capture the move!
Looking Into the eyes of AUDJPY longterm short or nahHey guys, looking at basic price action and fractals. I feel as if we have a prime opportunity for a short position. looking to take profits at 77.69.
Using Fractals we can clearly identify bearish trend following lower highs and lower lows. Connecting our lower highs using the angle trend line we can now gauge the strength of the trend any angle between 30 and 45 degrees is a consistent trend.
FX:AUDJPY
Trading levels 08/13/2018Hello guys, here are the levels for Monday, market keeps moving lower, one thing to keep in mind is that the ES 4H is coming close to the ascending trendline as well as the 61.8 fib retracement, let's see if this levels hold , that might give the bulls some edge to bring the market a little higher tomorrow.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
PLAN YOUR TRADE AND TRADE YOUR PLAN
K.R.S.