Be ready for a big move with the presence of triangle pennant. Although is been an uptrend since the mid of august, major trend still favor sell. Direction of the current trend still yet to decide whether it will continue up trend for short period or it will follow the major trends.
The NZD currently had dominant bulls power which already have two breakout for the past two days. - First down trendline breakout which the trend lasted since July 19th. - Second breakout in resistance which the market price currently forming a base to go higher.
As you can see on the chart, market forming base in the last 2 days. Big movement on its way, from previous low, the double top failed and reach the higher high. Diamond buy would be possible if price can break through the next resistance (1.29633)
Market currently completing the final phase of hns pattern and ongoing to the next strong resistance. 1) accumulate and breakout 2) fail to breakout and drop
3 scenario 1) Price bounce off the bottom curve which market rise (buy) 2) price bounce off the triangle and ranges (Buy) 3) price drop thru curve and triangle , then drop (sell)
bullish flag on EURJPY DYOR. NEVER RISK MORE THAN 1%
ascending triangle breakout, resistance at 150.920 Expected tp at next support
Currently, market range in a triangle and the price located at the lowest side of the range. 1) continue to range in the triangle which the price will go up in the current situation. 2) Break out triangle and drop, or break out triangle , retest to the triangle before drop
The market currently showing 2 different setup, which the trendline since July 20th had broken and if according to the trendline, the price still at retesting phase. For the 2nd scenario, the short term market showing head and shoulder pattern, also a bull flag pattern. Of course the major period would be a bigger term to consider than the short period. Still,...
The market currently ranges above the breakout triangle which i believe would favor the bulls as the there is a strong support (1.25830 ). Even if the support breaks, the parallel ranges lasted since July 19th would be a strong indication to buy.
The reverse HNS form almost complete with the right arm as it retest at the support which break out by the left arm. The bearish flag confirm the form of shoulders.
The diamond pattern almost complete with the right hand. diamond pattern can obviously seen before with one bearish and one bullish engulfing.