EURNZD is in a Triangular pattern and is testing a support level that was previously accepted with 2 Tweezer Bottom candlesticks. If this fails, price will likely test the next support level below. Potential for a longer term long trade if the current support level holds, with a successful retest preceding aggressive buying in the short term.
Bitcoin has been exhibiting an attempt to halt a recent decline and has now retraced the most recent breakdown which commenced on Aug 05. It is hitting a zone where relatively high transactioning occurred at the start of July. The Rising Wedge is traditionally a Bearish pattern but Bitcoin doesn't necessarily respect tradition. Await confirmation of a break...
A short trade if price falls through the pivot low or a long trade if it rejects it and returns above it.
The daily charts are exhibiting a bearish candlestick pattern as well as Overbought indicators. The long wick indicates an attempt but failure to break to new highs. There may be be a retest of this resistance level, but more likely it will want to test first for support at the level of the previous pivot high. If this level fails, it could precede a longer term...
ETH has made a number of attempts to break past resistance and is making higher pivot lows. It has surpassed numerous levels where heavy volume was transacted with higher volumes on the up moves than down moves, so is exhibiting bullish characteristics. The failure of the next attempts followed by high selling volumes, could however indicate capitulation to the bears.
An acceptable risk-to-return ratio might justify a long trade with a target at the previous upper consolidation. Use a tight stop as price might break through the current range and continue in its longer time frame bearish direction.
BTC is testing resistance and walking along support which could lead to a bullish reversal if it holds. The increase in volume around key areas 53000-55000 will likely cause price to range between them if it re-enters this zone. On the downside, there are multiple recent support levels so there may be a less pronounced move than that to the upside.
EURAUD is trapped in consolidation prior to the EUR Balance of Trade news. There are clearly defined support/resistance levels bracketing the price. Breakouts are likely to occur before the news, followed by reversals if the results are not in accordance with the pre-news direction.
Short-term trade between 2 mid-impact news releases. AUDCAD was walking along support and is now consolidating in the shorter time frame. There are defined support and resistance levels that it will likely want to test.
AUD news approaching with price consolidating in a Contracting Triangular pattern in the shorter time frame with an Expanding Triangle possibly developing in the larger timeframe. There is a statistically high probability of price reversing to the upside after creating a lower outer pivot. Possibility of fake breaks prior to news release so advisable to keep...
AUDCAD consolidating after some high volatility whipsawing. AUD and CAD news is approaching so may see some volatility prior to the release as traders position themselves based on predictive sentiment and then a recurrence after the news as they factor in reality if not in synch. There is a high likelihood of fake-break and returns to the pattern given the extreme...
Testing a confluence of various support zones. Fundamentals are bullish given current Middle East tensions and Gold providing a safe haven investment but the expected correction may continue if support levels fail
Possible Bullish continuation pattern. Short-term trade possibilities with entries around the boundary. With Gold approaching historical highs, price is very keen to test each previous pivot high presenting many scalping opportunities.
Theoretically a bullish Reversal pattern but could indicate a strong bearish continuation if it fails. Decreasing volatility as EUR news approaches could precede a powerful release of momentum
EURNZD has been on a strong bull run as it approaches making significant yearly highs. Its reaction to breaking through will test if the enthusiasm is backed by continual buying. Conversely, a rejection could lead to a strong bearish reaction in the short term. The presence of 2 consecutive Doji candles indicates a degree of indecision given the lack of committed...
Upcoming AUD news could be the trigger for a breakout from recent consolidation into a Triangle range. Watch how the price responds to the Hourly 200 SMA resistance.
Contracting ranges within a triangular pattern could indicate either a continuation or reversal breakout. First major bearish resistance would be the Hourly 200 SMA, which could be the first target take-profit
NZDUSD has been in a prolonged downtrend. The approaching news might potentially trigger a reversal. Important to be patient and wait for a confirmation of price breaking above resistance.