Price is heading to retest minor-resistance area at 1.46330.
Thus, my bias is to sell EURCAD to the next support of trendline
around 1.45079. (125 Pips)
Price has made a break-out of a channel. Currently price is making a retest at 82.227.
I will be looking to go Long in CADJPY, my take profit will be at 83.561.
You can now safely sell AUDJPY.
Confluences:
1. Break out of an uptrend channel.
2. Retest of minor 1 hour timeframe resistance zone.
3. Reversal Candlestick.
I am risking 30 pips for a target profit of 125 pips to the
down side. 1:3 Risk-Reward Ratio.
EURAUD In uptrend since 30th Nov 2018. Currently Price is sitting at minor resistance trend line in 4hr.
But in EURAUD we have two scenarios in Play;
First scenario is to wait and see if price will make a
short term sell to the down side to grab liquidity to the upside.
We gonna been keen to look this scenario in 4hr timeframe.
Second scenario is to wait for...
CHFJPY Been moving in Bearish Channel since 12 March 2019.
Several touches have been made in its upper trendline which
is acting as resistance.
Currently price has broken to the downside after several weeks
of consolidation (See consolidation Phase in 4HR timeframe).
Then, My honest patience is telling me to wait for a retest of broken
minor trendline in daily...
Audjpy instrument has been in down trend since 03 dec 2018.
This pair since 2018 is been moving in down trend channel up to date.
My bias in AUD JPY is still Bearish. Target Take profit is 520+ Pips.
