GBP index is at daily support and has a bullish flag formed-signs of bullish move, CHF has just reached the weekly resistant level we then wait for rejection for the both indexes then we go long on the pair.
possible long based on the following: 1. price has come to retest support level following breakout 2. Price is likely forming a second leg on H4 to confirm a W formation 3. JPY index is rejecting a daily key level same as CAD index
GU LONG based on the following 1. GBP index rejecting the daily resistance level 2. h4 Divergence identified 2. Dollar index is rejecting weekly resistance
Possible going short confluence: 1. H4 Trendline 2. H4 resistance zone 3. H4 M formation and now price is pulling back to retest the neckline
Look out for slight pullback in the daily 50-61 Fib the short the pair, overall Daily analysis NZD was very weak on Friday compared to USD.
EN BUY....... Price came back to test the H1 order block
Reasons: 1.on Daily TF price bounced on Daily TL indicating end of pullback and continuation of uptrend 2. H4 bounce of price confirming uptrend continuation with inside bar 3. break of resistance or key level following bounce on H4 TL anticipating a pullback to around 109 hence i have place a buy limit order.
Confluences: 1. H4 price failed to break Key level 2. Price bounced on H4 Trendline 3. H1 Trendline broken and retested violating structure confirming downward move.