FX:EURUSD
After the run started after the breakout of the 1.10 area, price has formed a flag continuation patter, which has not been confirmed yet on the daily level, but the 4h candle has closed above the higher trendline indeed.
Moreover, looking at the US Dollar Currency Index, it looks as if it could be heading south, judging from the price forming another...
USDCAD has successfully broken out of a rising wedge, which could be meaning that we're heading further south after the amazing downfall of May. If it does indeed reach the first target, depending on how the market behaves once it's there, there could be a reason to increase the take profit.
Moreover, TVC:DXY has equally broken out of a flag, which may sign a...
Let's dive into the setup:
After completing the 5th elliott wave, which I have happily traded and you can see how it went on my twitter account, and a double bottom so clean that I didn't take advantage of, it went on to touching the higher trend line of a falling wedge pattern. The astonishing speed with which it arrived there, led me to believe that last LL and...
As we can see from the chart above, the cross reached a very important resistance first established back in May as a support and tested in June; the "change of polarity" happened in July, when price dropped of more than 4% in 2 trading weeks. As the saying goes: "the first test never fails"; it didn't indeed. We could be in front of a retest of the resistance,...
As we can see from the chart above, the cross is right on a short-term dynamic support (trendline), which has been touched with a very sharp move. Moreover, this dynamic support coincides with a static support level (around 121.22), adding confluence to the analysis. However, before entering the trade, I'm waiting for a confirmation, which I expect to appear on...
FX:AUDUSD
After a sharp gain, AUDUSD approached a key resistance zone (around 0.7020), established on the 26th of October 2018.
Moreover, tomorrow (2nd July), there's going to be the RBA Interest Rate Decision of July, followed, as usual, by a statement from the governor of the Reserve Bank of Australia, Philip Lowe.
At its meeting of June, the Board decided to...
