Forex-currency
USD-CHF reached support. Will start growing again.
USD-CHF has dropped from resistance just as I predicted,
Now has reached strong horizontal support and a falling support confluence.
This is an area of demand.
Buy
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AUD_USD ON KEY LEVEL| REVERSAL POSSIBLE
AUD_USD on key resistance level now.
There was a bullish acceleration rally recently and it is about time for the correction.
Wait for it to form a reversal pattern like a double top, and then a short is plausible.
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USD-JPY will bounce from resistance line
USD-JPY has been following this falling trendline for some time now
I expect it to be respected by the market
It is likely to bounce from it to retest rising channel support
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GBPCHF Potential shortHello Traders,
We have a descending trend on GBPCHF on the 15min timeframe. We are expecting price to respect the descending trend line and head to forming a new lower low. We took our entry on the 5min timeframe when we saw price in our 50% to 61.8% fibonacci retracement zone and touching our trend line.
Our trading plan goes as follows;
TP1: Close 50% of position and move SL to Breakeven. Remaining position is 50% and risk free.
TP2: Close 25% of remaining position and move stop loss to TP1. Remaining position is 25% and profit is secured.
TP3: Full take profit is realised.
Good luck and Happy Trading!!
AUDUSD - Test of descending triangle resistance resistance 🔽AUDUSD is brokeout above the double bottom neckline resistance as expected from my previous analysis.
The market is testing the descending triangle trendline resistance.
Breakdown below the internal uptrend support could be a bearish signal ⬇️.
EURAUD - Potential buy re-entry 🔼EURAUD rejected the ascending channel support and brokeout above the pullback trendline resistance as expected from my previous analysis.
The market retraced and it's testing the 0.618 fibonacci retracement level.
Breakout above the minor pullback resistance could be a bullish signal ⬆️.
EURUSD - Potential sell re-entry EURUSD rejected the 0.618 fibonacci retracement level + descending channel resistance.
The market broke down below the pullback support.
Potential retest of flip trendline resistance + fibonacci retracement levels.
Sell re-entry at confirmed bounce off the retest ⬇️.