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H4

EURUSD - Retest of resistanceBelow you'll find an analysis on EURUSD H4 chart. Price on H4 broke the upsloping trendline to the downside. After a retest of the trendline price continued to move lower. Subsequently, price broke through support, found support on 38.2 fib level and is now testing resistance (former support). If price is not able to break through to the upside, more downside potential will follow. Next supports are the 38.2 and 50 fib level and the support at 1.1735. 1.1735 is also the target for the short position. If you have any questions or comments, feel free to post! Happy trading!
Short
by jouke.hartman
Early call on a GBP/CAD rise? Possible longer term here bullish opportunity on the Pound/Canadian. The GBPCAD has recently broken out of a down trending 'channel' on the H4 chart, and coupled with the recent explosive move after the BoE's interest rate comments last month, we might be seeing an inverted head and shoulders pattern potentially forming as well. Looks like a little bounce at the top of the right shoulder is possibly sending price action back towards a re-test that neckline at the moment. I Like the current level for a 'probe' trade with the possibility to scale into it further if the neckline breaks.
Long
by bmck1
XAUUSD - H4 - Potential Short OpportunityWe have recently seen XAUUSD break out above the key $1300 price level which has contained the precious metal for the best part of a year now, however, the momentum to the upside might be weakening (if only temporarily) as we have just put in a new structure low on the H4 chart, violating the previous outside return of the bullish move up. We are currently trading just below that $1300 level after breaking through it to the downside yesterday and as such I will be looking for a retest of the key level, with a view to entering short this pair if we see the level hold. Primary target for me would be at the $1275 level (Psych number and in the same zone as the 127.2% extension of the initial pullback leg) with an additional target about $25 lower around the $1250 zone (also the 61.8% retracement of the larger bullish move up) Evidently tensions between NK & Trump are ongoing, but most assets seem to have gotten used to this environment and many of the knee-jerk reactions are remaining relatively subdued. Let's see how it goes!
FX:XAUUSDShort
by bmck1