The first setup to begin the week, we've seen a clear that of the third drive into the downwards trendline, with consisting candlestick rejections and reversal candles(doji) showing bias towards a more bearish move on this pair. 1st targets retest into daily support. risk/reward ratio 1:2.3
Confluence around the 1.2786 price region which price has respected and could showcase downside pressures. risk/reward ratio 1:1.6
Signs of candlestick rejections around the 78.6% fib retracement region at which price was consolidating at. Also, the central bank interest rates remarks could be a catalyst in usdcad price action. risk/reward ratio 1:1.4
price is respecting the upward trendline, could begin to see upward momentum
Major resistance around the 1.5745 area with previous signs of rejections around that price region exhibiting that, also 78.6% fib rejection adds further confluence to that bias. risk/reward ratio 1:2
price is still consolidating around the 1.3700 price region, we have found some intraday bearish exhaustion around 1.3620 which has acted as liquidity zone previously, and have seen some buying power around this zone. risk/reward slightly tight
Signs of rejections around the fib region, with exception to how the trend is on the downside, we can capitalise on this lower high leg formed for further momentum to the downside. risk/reward 1:1.6
price has retraced into a confluence region where could be viewed as a new lower high. We could expect further bearish pressure around this region. risk/reward is tight
signs of bearish exhaustion around the -27% fib region acting as support as price failed to break below it, even followed with another spiked rejection could further add consensus to our bias, which we could expect some upward shift in price action. risk/reward is 1:2
signs of bearish exhaustion around the 1.5490 price region, which price could consolidate around the supporting trendline and fib level and create new momentum towards the highs. Reminder, that on larger time frames price is still exceedingly bullish for euro versus the Canadian. risk/reward ratio is 1:2
utilising the market trend as a general map of how price action is behaving, USD/CAD has been trading aggressively bearish. Despite price attempting to reverse, we see a strong confluence around current price region acting as a resistance for candlestick rejections as well as a key fib level. risk/reward ratio 1:2
Price is still relatively bullish on the long term aspect, we have seen some liquidity around the top of the psych price region, and we are currently seeing signs of momentum to the upside to potentially tap or break above that region. A preferred area of buying has grossed our attention around this confluent region where price could respect the trendline and fib...
My long term trend following model just spat out a fresh EURUSD signal. The signals take price/time inputs exclusively, and involves an initial 'headfake' filter and then requires confirming momentum within a certain timeframe before signaling. EURUSD, GBPUSD, and EURGBP are all very much in play given the recent COVID developments in the UK, as well as BREXIT...
price has respected the downside trendline and traded within range, expecting some downside price actions which could tap our -27% fib region risk/reward ratio 1:2
As clearly mentioned price is respecting our 61.8% retracement region, we could expect potential downside pressures into previous spiked lows. risk/reward ratio is 1:1.5
euro is still trading extensively bullish against the pound, picked an area of retracement region which price tapped, where a new leg could be formed and move right into TP targets and higher. risk/reward ratio is 1:1.6
Price is exhibiting some rejections around the 61.8% fib region, this could be a point of momentum shifting towards the downside. risk/reward is 1:2