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NZDCHF caught in decision spotNZDCHF currency pair fall into a decision spot. This is is telling us posible trend reverse on H1 timeframe or bullish continuation from daily perspective. If bearish move from H1 trending continuation will happen, we are looking price to break an important support level at 0.62560. If bullish move from daily perspective will push price higher, then current spot is counted as third touch of daily/ h4 timeframe flow. If price will continue higher, then retracement from lower timeframe is expected before entering positions. Why is this spot dangerous to trade at the moment? This spot is dangerous to trade because we have confusion between strong daily buyers, price is still in buyers overall move and trending on h1 timeframe is showing potential bearish downside move. Bullish target: up to 0.63271 resistance level Bearish targets: T1: 0.61984 T2: 0.61449
by EliteFxAcademy
GBPUSD is Undecided, Probably BullishGBPUSD has been in a range since mid 2016. Therefore long-term trending strategies may not work at the moment. Also when price is at support or resistance of this range, you have to be careful with the direction of your trades. Counter swings are very powerful there. A lot of directional trades may not work. This will be so until GBPUSD breaks out of this range or leaves the extremes. It's currently at the resistance. If it does break out, there will be nice swing and position trading opportunities in the long side. It's a major resistance so I would wait for another strong bullish weekly candle to confirm a break out.
by nnadivictorc
2
Gold (XAU/USD) | December 6, 2020Hey Guys, Amir is Back :). anyway this is my first analysis in Gold chart. okay guys just look at the 2 Strong Resistance Level! there's 0. 618 Fibonacci Level too, maybe it's gonna move downward ... In the picture, you can see that the stochastic lines are gonna Break there selves in the future and will most likely go downward , and if we consider the analysis with this, there is a possibility that the price of gold will fall ... I have been learning Forex for 1 month now.
FX_IDC:XAUUSDShort
by saffarifx