After breaking structure and creating a new low, we are expecting the market to pullback to the daily demand zone for mitigation before sliding down further targeting the lower trend line in green.
The larger market structure is bearish with intentions of breaking a key support level. Once broken we will take a wait and see approach as the pair looks to give reversal/pullback indications. The target profit area is the fresh order block (in green) before continuing with the bearish move.
After the change of character and break of market structure in the 4hr chart, the market created inefficiency in the form of unmitigated order block. It is natural that the pair has correct this inefficiency by pushing lower before making new highs. Our bias remains bullish targeting the 1.95 region
The larger market structure is still bearish. The pair has touched the daily high (red order block) and reacted pushing the pair downwards. It is yet to mitigate the fresh order block within the bullish order block. Thereafter we are expecting a pullback to the upside before bearish continuation.
From the weekly and daily time frame, the pair has been ranging between the bullish (blue) and bearish (red) order blocks. Recently it touched the bearish order block and failed to break structure. The pair is largely in a bearish trend. In the short term, a pull back to the bearish order block on the 4 hour timeframe is expected to disrupt the bearish momentum. ...
Over the last few weeks the pair has shown some bearish momentum confirmed by the Change in Structure (CHoCH) and the second break in structure (BOS). Once the pair returns to the bearish order block (1.069) we will look for sell opportunities targeting the liquidity (double bottom) at 1.055.
Awaiting break in the market structure and a return to the daily bearish order block to activate sell orders targeting the 153-152 region. Increased geopolitical risks are strengthening the Yen, a safe haven currency.
The larger trend is bearish, the pair is clearing the imbalance on the weekly time frame. Once the imbalance is cleared, sell orders will be available.
From a monthly perspective, the pair is largely bearish. In the interim, there is a bullish retracement to the fresh order block (FOB) which also serves as the bearish orderblock. Thereafter I shall look for sell entries.
The pair has formed an inverted shoulder signifying a bullish move targeting the buy side liquidity (blue line at 133.) Thereafter I shall be looking for sell positions.
The pair has a bearish medium term trend eyeing the bullish orderblock around the 150 area. Currently the pair is returning to the daily order block due to the recent rate hike by BoE. Once the pair enters the daily order block, I will be looking for sell entries.
The pair has been sliding down gradually over the past few weeks. It has entered the daily order block (red line). Possibilities of a bullish move could be found below the orange-ish line once it completes clearing the imbalance in the order block
AUDNZD has been on a decline with a bullish retracement forming an upward channel. Sell positions likely to be executed at the area highlighted, though confirmation is needed before executing the trade.
After a decline, the pair is retracing up to the identified level thereby forming an head and shoulder signifying a bearish impulsive move to the downside. Possible trades could be activated at the area indicated ' possible sell off'
AUDCAD has been trending upwards. A bearish retracement is forming that is likely to lead to an inverted head and shoulder indicating a continuation of the bullish momentum.
