NZDUSD Potential for Bullish Rise to Overlap Resistance Looking at the H4 chart, my overall bias for NZDUSD is bullish, as the current price is crossing the Ichimoku Cloud. Looking at a pullback buy entry at 0.61870 which is the overlap support, take profit at 0.65009 which is the overlap recent swing high, and stop loss at 0.60147 where the 50% Fibonacci line is.
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AUDJPY LONG After a bullish engulfing pattern AUDJPY LONG After a bullish engulfing pattern.
The bullish engulfing bar pattern tells us that the market is no longer
under control of sellers, and buyers will take control of the market.
When a bullish engulfing candle forms in the context of an uptrend, it
indicates a continuation signal.
When a bullish engulfing candle forms at the end of a downtrend, the
reversal is much more powerful as it represents a capitulation bottom.
AUDUSD approaching resistance, potential drop! AUDUSD is approaching our first resistance at 0.7437 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8%, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.7383 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic 89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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