AUD/USD AUD/USD is currently trading in a downtrend at 0.7085. After finding support at 0.68274, price action has rallied creating new structure swing highs. Price has broken a key support level 0.7103 which developed from a bearish flag pattern. The current rally suggests price is looking to retest support as resistance as we look to continue in further bearish...
Currently in the corrective stage after an impulse wave of bearish price action. Looking for price to retest broken support as resistance before a continuation of bearish momentum. However price could also break resistance and continue to the next area of resistance 121.677-121.129. Looking to enter to the down-side of this market.
Potential opportunity to the long side AUD/USD. A break above the 0.72230 level would suggest bullish momentum. Support from the 0.5/0.618 fib level along-side the support of the 200 day moving average looks to suggest that price is going to retest the 0.72230 support level as resistance. A break of this could result in higher highs.
Looking to enter long on NZD/USD as we have come down to the long term up-tend support level. Signs of new structure lows will suggest the break of a bullish impulse wave. However we could still experience further bearish price action.
nice early trade in a range! 38 pips 2:1 opportunity 2% risk
After a strong sell off a double bottom pattern has structured along the long term up-trend. Price looks to be retesting the double bottom. Currently awaiting a new structure low on the bottom side of the flag pattern. In anticipation of a close above the top of the flag pattern to confirm a bullish breakout. A close below the 0.382 fib level will indicate...
EUR/JPY is currently contracting after 2 previous swing highs. It has now touched the short term bullish trend and found support. There have been 3 touches of the current trend the last 2 touches forming a W pattern indicating a reduction in downward pressure. A new structure low has been confirmed supported by the 50 day moving average crossing the 300 day...
AUD/USD is currently trading at 0.72531 showing bearish price action. Price is currently contracting within stage 1’s trading range. After a breakout of a double bottom price is retracing to test previous resistance as support, which is also a 0.618 Fibonacci retracement level on the monthly time frame. There is potential for price to find support around...
EUR/USD is currently trading within a range. After retesting the 38.2 fib level and continuing though a 50% retracement. Price action is showing bearish momentum towards the 61.8 fib level on the short term trend and more significantly the 61.8 fib level on the monthly time-frame indicated by the blue support level. Price has is currently at 1.13152 and has...
EUR/USD is currently in a correction after a bearish impulse wave. After finding strong support at 1.0670 it is currently trading within a range. Previous price action shows strong resistance at a 50% fib level (reversal). Will we look to see history repeat it's self forming a bearish breakout of the current trend?
looking at AUDNZD there is potential for bearish price action as we are currently in a downtrend correction after the completion of a 50% retracement.
The Nikkei 225 is currently trading within a range. A potential buying area is situated close to the key support area.