Higher timeframe still showing Bullish structure, dropped down to hourly timeframe for a nice entry with 2:1 risk reward. Buy stop order used to make sure structure resumes and momentum continues bullish before entering.
Buying a breakout of consolidation, aiming for previous highs.
price rejected at the confluence zone with the 50% Fib & descending trendline
Bearish euro, expecting a pullback before moving lower to the D1 extension level
My outlook on Aussie, awaiting a weekly close above 0.7730, strong Monthly psychological barrier. Then look to execute longs after a potential pullback as support before moving higher to complete the overall ABCD pattern at 0.8100. First target 0.8050 (WEEKLY RESISTANCE) Overall target 0.8100
4HR trendline holding well as support, yet another confluence to my previous Bullish outlook.
Anticipating an upside break of Aussie, Bulls could be taking charge. Monthly, weekly & Daily Moving averages all crossed to upside, strong bullish engulfing pattern on the weekly at an ascending trendline. Inside bar formation on the Daily.
Moving averages on higher timeframes showing overall trend is Bullish. Price currently in an ascending channel. Price has bounced at 1.3000 weekly Support forming a Bullish Engulfing pattern. Possible formation of new structure Higher Low, New Higher High expected. Tight stop 2.8RR
Daily candle broke neckline and closed below, retested as resistance as anticipated now expected further downside momentum. Short upon a break of 100.00 monthly support.
Weekly descending channel, price has broken counter trendline, retested the trendline as resistance, now expecting further downside momentum. First target, 2nd point of counter trendline @ 0.7300
USD/JPY SHORT price looks to be rejecting the 110.00 Resistance level, and also respecting the resistance of the sloping trend line. 3:1 Risk Reward. Entry, sell stop signal just below the Kangaroo tail type candle at 109.80