Eur/cad is trading around very important support zone in the big picture. If we managed to bounce higher from current levels, then the bulls may have good chance to see new highs above 1.5580.
We are at key area and if we should move higher from here to test the trendline, then we might have a chance to see a reversal here.
I'd like to see this pair higher in bigger picture, hence only looking for area to buy.
Allthough this pullback from the highs look aggressive, the trend is still up and the pair remains bullish.
I don't think we'll break the main trendline on the 1st attempt but I'm looking to buy from lower levels, if the marked support holds.
It is very possible that we'll spend a lot of time in this range - possibly couple of months or even more but eventually we need to see a break and that break will have significant impact on this pair on the long run.
Despite the spike lower, I'm only looking to the upside. New high remains as the main target.
Nothing to add here. everything is on the chart.
Extremely tricky situation in EURUSD ahead of the main event of this Spring. Short-term outlook is very mixed - we have a possible H&S Pattern pointing to the upside, we have a possible triangle which could break in either directon, we have a strong trendline resistance 40 pips above current price levels and on top of that, we have a bearish trend that has lasted...
Possible H&S measured move would take us against the trendline resistance. Most likely the reistance the trendline resistance will remain in place until the FOMC
Ahead of the FOMC Presser this week, USDCHF in defintiely one of the clearest pairs to keep an eye on. I'm not looking to establish any positions there before the FOMC but I will most likely use pending orders during the event. I'm only looking to the upside. Not interested in selling this one.
Even though we have a possible double bottom, I still favor the downside for now. A lot depends on the price action during Friday and the beginning of next week. On the other hand, the fact that the double bottom was made with a new low, makes the situation a bit more bullish, because the longs are taken for now and those who shorted the "breakout" are probably...
Nothing's changed in my opinion. Staying away from the short-side and looking for bullish clues. Probably I will not get any decent hints until I see the weekly close. Nevertheless, not interested in shorting around current levels.
We are very close to the channel support which most likely will provide a small bounce higher at some point. However the real question is, are we going to take out the 2008 highs or not? Time will tell.
Nothing to add here. Everything is on the chart.
I'm interested to see how the pair reacts in the current area, around 0.7400. If we are rejected here, then we might see bullish case and a larger reversal.