UnknownUnicorn5514496
Judging off the higher time frames, I think that the Euro still has room to recover a bit after last weeks blood bath, and the COVID-19 virus is providing nice support to USD. Nice 30M candle close above the range, looking for more upside here.
Seeing a double bottom here on the H4 and H1 time frames, also seeing a possible harmonic bearish bat pattern is in the midst of forming, so I am looking to take longs, unless we start breaking down. Looking for a range to play off of and target the upper end of the previous range.
Just an idea here for possible upcoming price action. I see the double bottom near major support, and am thinking a breakout to the upside seems due and would be nice to see. Looking for the pullback to risk off of the resistance-turned-support level and aim near the upper end of the range. Watching for now.
I am thinking this is a good long opportunity for a test of the upside downtrend line from the daily. The market tried to spill over, bounced back hard, and is settling above the previous range. I am liking longs towards the upper end of the wedge from the daily chart.
Liking this set up if we can get an hourly close above $84.016, the top of the range that has formed on the H1 as shown above. I am liking a test of the downtrend line from the daily, as I am expecting the Euro to be stable at least into Wednesday, and with the EU - UK trade talks starting tomorrow I think we could see some risk off in GBP ahead of those...
Seeing a lot of similar action in Yen pairs, and $CADJPY is no different. Based on the higher time frames such as the daily and H4, I am thinking we will run into trouble up here at these levels and begin to push down. We're already seeing a double top here, and my entry would be off of a trigger sign, such as an engulfing candle or high test candle with lower...
Here, I believe I can see what is going on currently and have begun to plan accordingly. I am short biased on $EURJPY into this week based on the daily breakdown of an uptrend line followed by a retest of the support now turned resistance. I will be looking for signs of weakness such as rejection wicks, engulfing candles or high test candles off of the H4 and H1...