Downtrend
AU providing a hint for a reversalAUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support and has performed a higher high, would be a trendline break if price wasn't moving so fast but the moving average has already crossed to the upside. If that low holds as support, I'll look to buy to the 38.2 Price reversal zone (PRZ).
Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, also on a one-day interval. First of all, using the blue lines, we can mark the uptrend channel in which the price is currently moving.
Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark the supports, and as you can see, we have the first support at $1809, the second support at $1767, the third support at $1734, and then we have support at $1703.
Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here price is fighting resistance at $1830, next resistance is at $1857, then third resistance at $1884 and fourth resistance at $1923.
The CHOP index indicates that there is a lot of energy for the next move. The MACD indicator indicates the transition to an uptrend. On the other hand, on the RSI we see that a small price movement gives visible movements on the indicator, which can quickly reduce the room for further increases.
I'm correcting errors mid-weekI decided to publish a video about the recent trades taken and the aftermath. I believe that I see structure clearly, however my bias changes depending on the timeframe. I'll be ultimately bearish on Sunday and Monday, then decide I want to be bullish Monday night to trade up to the sell. I understand that counter trend trading is dangerous to the risk: reward portfolio. This video will be watched back 2-3 times by myself as I learn more about the market from "teaching" it. I'll also be posting more videos regarding pre analysis, leading up the decision to take the trade.
Correction Drop to 25k followed by a Bullish SurgeBTCUSDT may see a brief dip to the 25K support level before potentially surging towards 49K. The bullish move is still active on the weekly chart (from a previous post I've did).
So I don't think it will go below the 25K level, since the bullish power is still strong. This is for me a correction before a realy move to the top
The 25000-25800 range can be an ideal zone for a BUY.
EURCAD I Pullback and more downside Welcome back! Let me know your thoughts in the comments!
** EURCAD Analysis - Listen to video!
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