USDCHF: Bullish Move After Breakout 🇺🇸🇨🇭
Look at a price action on USDCHF.
The price broke a resistance line of a wide horizontal range on a daily.
After a breakout, the price started a local correctional movement on a 4H.
A bullish flag pattern was formed.
With the opening of a NY session, the market went up and violated
its resistance.
With a high probability, growth will continue now.
Goal - 0.8598
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Swingtradingforex
MarketBreakdown | USDCAD EURNZD, GBPCAD, GBPCHF
Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ USDCAD daily time frame 🇺🇸🇨🇦
The pair is currently consolidating within a horizontal range on a daily.
I am waiting for a breakout of a one of the boundaries of the range
to confirm the future direction of the market.
I think that the price may keep coiling before the FED rate decision on Wednesday.
2️⃣ EURNZD daily time frame 🇪🇺🇳🇿
Similarly to USDCAD, EURNZD is also in a deep consolidation.
The pair trades in sideways for many days, perfectly respecting the same
horizontal resistance and support.
Our trigger and the signal will be its breakout.
3️⃣ GBPCAD daily time frame 🇬🇧🇨🇦
We see a violation of a significant daily horizontal resistance and a formation of a new year's high.
It indicates a clear strength of the buyers and a highly probable further bullish continuation.
I will look for a retest of a broken structure to buy from there.
4️⃣ GBPCHF daily time frame 🇬🇧🇨🇭
I see a confirmed breakout of a resistance line of a falling parallel channel.
With a high probability, the price will go up after its retest.
Do you agree with my market breakdown?
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AUDUSD: Bearish Reversal Confirmed 🇦🇺🇺🇸
AUDUSD formed a head and shoulders pattern on a daily time frame.
With the release of the Friday's US fundamentals,
the price dropped rapidly and violated a neckline of the pattern.
This morning, the price nicely retest the broken neckline and respected that.
We can anticipate a further bearish continuation now.
Next supports: 0.6645 / 0.657
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GBPAUD May Continue Falling 🇬🇧🇦🇺
GBPAUD nicely respected a resistance line of a horizontal
daily trading range.
The price formed a double top pattern on that and broke its
neckline, leaving a clear bearish clue.
The fall may continue at least to 1.93
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USDCAD: Strong Bullish Pattern?! 🇺🇸🇨🇦
USDCAD formed a double bottom pattern after a test
of a key daily structure support.
As many times in the past, the price can easily initiate
a strong bullish movement from that.
I expect a growth at least to 1.3706
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