AUDNZD Long Trade, Risk to Reward 3:1
AUDNZD Triangle Breakout, price has broken out to the downside. Target is obtained by measuring the widest part on the triangle and projecting the distance down from the breakout point.
buy at support sell at resistance with stops outside the channel lines to protect from the breakout.
GBPUSD Channel, buy at support sell at resistance with stops outside the channel lines to protect from the breakout.
XAUUSD has formed a larger ascending triangle after breaking out of the smaller triangle this morning. RSI and Stochastic showing bearish divergence with Stochastic now moving into oversold territory. The 1282 level seems to be holding and will require an increase in momentum to break through decisively.
EURUSD is working its way into the apex of an ascending triangle with a break one way or the other likely. The 38.2% retracement level of the recent rally coincides with the target projected from the triangle.
GBPUSD Symmetrical Triangle Targets. Breakouts from symmetrical triangles normally occur around 2/3 of the way into the triangle.
There is a possible correction looming, both RSI and Stochastic showing bearish divergence. There is some resistance at this level with it being testing it 4 times, we are now at the apex of an ascending triangle. The target projected from the triangle measurement is just above the 38.2% FIB level, this are should provide support to a move down before possibly...
Possible resistance at the short term internal trend line could push prices down to find support around 85.000. Bull rally could start here pushing prices back up to the main resistance line. Stop loss is at 3 x ATR.
Possible resistance at the short term internal trend line could push prices down to find support around 85.000. Bull rally could start here pushing prices back up to the main resistance line. Stop loss is at 3 x ATR.
Currently trading within a channel, the congestion area has been tested as support/resistance in the past and could act as support again. Also, currently approaching the lower channel line which should reinforce support around this level. Price could turn up to find resistance around the 1.32000 level before returning to test the lower channel line. Should the...
Barclays release the full year earnings on Thursday, there is an ascending triangle in place in anticipation of the release. Possible breakout on the long side could be tested at 267 which has been tested a couple of times before.