Double Top, RSI Overbought and RSI Divergence showing weak momentum and near reversal. Minor and major structure on left showing a price psychological level. Fibo Retracement at 61.8%. SL at 1.0200, TP at previous structure 1.0149.
There's a Bullish Cypher pattern in 4H, but there's also strong resistance level at 0.93304. The price is already testing this resistance. There are 2 possibility of outcome, A) price is done testing and go lower or B) price continue to complete the target for cypher pattern at 0.93619 where it's also has some resistance on the left, and from there, it will go...
4H GBPNZD is on retracement and hit the bullish trendline. We got triple bottom on 1H with oversold RSI (below 20) and a divergence. Bullish Trend Continuation is expected. Entry at 1.9766 (Fibo 50% retracement). Target for the next resistance around 1.9950.
Bearish Butterfly on EURCAD 60Min, Entry around 1.4606 - 1.4612. SL: 1.4644, Target: 1.4548 Note: RSI Oversold, Price almost near previous resistance (1st July 2014)
Bearish Gartley with Entry: 1.0079, SL: 1.0140, TP: 1.0028 (38.2 Fibo) Note: RSI Oversold and Divergence, and at previous resistance (27th June 2014) and previous support (23rd June 2014). I also ignore the high wick at 10th July 2014 because it was an impulse reaction on the news.
1. Bearish Cypher on 60 Min, Entry between 1.0717 - 1.0738, SL: 1.0768, TP: 1.0698 (38.2 Fibo) 2. Bearish Butterfly on 60 Min, Entry 1.0720, SL: 1.9768, TP: 1.0694 (38.2 Fibo) Note: RSI Oversold and both target is around previous resistance where the market would likely to retest the support.
Bullish Bat Pattern on 1H USDCAD, with oversold RSI, Target at 1.0658 (38.2 Fib Retracement) with Stop Loss at 1.0622 (113 Fib Extension)