EG clean setup- Bouncing resistance and breaking wedge makes for a solid bearish run to support. Keeping my TP @ 61.8 but will extend depending on price action.
UCAD is stuck in support/resistance, there is a nice triple top that has formed which corresponds with the daily 50% fib perfectly. On this time frame i expect price to reach resistance before continuing down, price potentially may break support right away but this setup seems more plausible.
EURNZD analysis. Price has broken higher time frame bull trend but indicators are pointing to a small retracement/retest to resistance before continuing its drop; has also bounced lower timeframe (major) support. keeping an eye on the bullish flag before a quick long.
Rising wedge was broken a couple weeks ago and the retest is coming to an end. Looking for a strong bearish close and further confirmation of this bias before shorting. Price is hovering the @ a strong resistance area and is also between 61.8 and the 50 fibs.
3 month-long trend looks to be recently broken and in retracement mode. It's possible it will dip as far as 61.8 but more likely to reverse back to the upside around 1.666(50% fib), corresponding with the major support area. Looking @ the weekly will better help understand.
Simple and effective
