We have seen multiple rejection in immediate support/demand area. For intraday trading, this could be next bullish move to target resistance area inside the channel at 0.06431.
Breakout from 0.06431 we could see retracement to previous support area at 0.06771, and most extreme case it could reach 0.07114.
Support area remains at 0.05995.
SHIBUSDT is now looking for bullish move after rejection from Daily chart trendline. Will remain bullish as long as Daily trendline is respected.
Support: 0.00001175
Resistance 1: 0.00001490
Resistance 2: 0.00001640
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We might see another bearish run on USDCAD following support trendline breakout. Expecting the price to test previous key level (1.29037 ~ 1.29162). Wait for price action on this level before making any short move. Target price to drop into previous support area (1.27873 ~ 1.27903).
We have seen support trendline breakout on daily timeframe, and now we can focus on finding short opportunity when price action completes pullback on 107.672 to 107.871 area.
Price is expected to find D1 support at 107.672 to 107.871 area. We might see strong rejection downward if price able to break the support area, which we are targeting around 105.000 area if...
USDJPY sees another rejection from top, which has confirmed double top formation. We also see rising wedge upward, indicating that price is struggling to move up and shaping a bearish potential. If strong bearish move happens, we might see price to test 108 area.
Last week we have seen the recent lower timeframe (H1, H4) resistance broken, and we are awaiting for price to build a flag/pennant pattern in that timeframe to confirm long opportunity. Price also has arrived to daily's bottom, making it a potential double bottom setup on D1 timeframe.
This setup would have RRR 2:1 for TP1 and 3.5:1 for TP2.
Price is now has completed consolidation and breakdown is confirmed on H4 timeframe. Wait price to reject the previous support trendline before placing short entry. We are targeting 100 to 120 pips movement for price to touch the next support area.
We see a correction wave is in action on NZDUSD H1 and H4, which indicates that price is struggling to climb up. Look for short entry once trendline breaks downward. Target support area is 0.71400 to 0.71200.
There is a consolidation movement on lower timeframe M15, which we could see a retracement to previous support become resistance area. If price could reject the area, we are seeing potential short opportunity to next support zone in same timeframe. I'm not keen to hold the short as there is potential reversal at next support zone to follow higher timeframe...
EURCHF is in long consolidation phase, which formed bullish flag pattern. This could lead to another bullish price move. Target for next resistance is is 1.12000 which is also Weekly Support become Resistance zone.
EURGBP is set to continue bearish movement after correction in smaller timeframe.
If it breaks 0.85000 downward, we might see continuation of bearish move on higher timeframe (Daily) to 0.83500 and 0.83000 area.
EURUSD is looking for bullish price movement. Expect price to retrace once neckline broken and look for long position once price rejected the neckline.
