If dollar continues its downtrend, this could be a valid short opportunity. What's your view on this pair? Let me know in the comments.
What's your view on GU? Let me know in the comments
EURNZD at an important resistance level. Awaiting a break out or decline of this level.
Looks like CHFJPY is making a bullish flag pattern. If it breaks the resistance line a potential long position occurs.
Looks like EUR/NZD is making an inverted head and shoulders pattern. A long position occurs if price hits the 0,236 retracement. First target would be around the neckline, second target would be the 0,786 retracement if a break out occurs.
Awaiting a test of the 0,618 retracement
If the trend can break the 0,382 retracement, it could be a potential long opportunity. With as price target the 0,618 retracement but still taking into account the 0,5 retracement.
Looks like EUR/USD is making a corrective abc pattern, with price target around the 0,618 retracement.
Waiting for the break out. Looking at the inverted head and shoulders pattern the break out is expected to go upwards. With targets at 0,618 and 0,328. However, with a break out downwards the first price target would be 0,93450.
Potential short position arises if the trend breaks the 0,382 retracement. If so, the first target would be around the 0,618 retracement.
Looks like EUR/JPY found support on the 0,786 level. Expecting a movement towards the 0,618 retracement, after the down trend (broken trendline). Second target would be 0,382.
The break out of the head and shoulder pattern indicates a trend reversal going down. However, the 0,618 retracement could be a support level for a long position. With as first target the 0,382 retracement.
After the break of the resistance line around 141.60, a potential long position occurs. The height of the triangle indicates the potential price target, though still taking into account the retracements.
If trendline (1.06418) breaks potential short position possible. Entry after confirmation downtrend, around 1.06394. Stop loss: trendline of triangle pattern. First target: support level of 1.05931
ABCD pattern. D complete at 1.090909 Entry after confirmation around 1.08923 or so. First target: 0,382. Stop loss: 1.090909, then adjust with trend to break even.
Just started trading forex for 1 month. Still learning, I appreciate any feedback. Not sure about this position but IF I would go long, my first target would be the 0,618, then I'd wait for another break out after that. Stop loss on the support level of breakout.