on Monthly and Weekly Chart EURUSD still on the uptrend, so be option to trade EU is Buy rather than Sell. The smaller timeframe H4 possible making Head n Shoulder Pattern and going to rally to point 1,23$
We all know before that on the news USD became weak based on the nation's economic calender. This causes the currency pairs related to USD tend to strengthen.
We also know that Gold is an instrument that is in demand during this pandemic and has reached its highest price. However, the market gives us an indication that the price is starting to burn out and that the price is starting to decline and make correction.
Usually when Price at the main trendline there is Supply Area that possibly we can take short position on USDJYP. And Price used to look for the Demand Area. Do you think USDJYP will continous fall and break the Demand Zone at the Resistance ?
If we can see at Weekly Time frame EURUSD has 3 Pin Pattern and price possibly going down to make some correction. But at Daily it breaks the trendline and going to Supply Area but the main trendline actualy already broken.
I still believe about taking short position on GBPUSD. Because in Daily Timeframe it's already on Resistance and Price cannot close above it.
GBPUSD has been successfully break the Support and usually it should make Lower High (retest) and continou to make Lower Low
XAUUSD on DEMAND ZONE and it has Doji Candle, it time to buy and take profit on Supply ZONE
After breaking out the Resistance and came back to Demand Zone, EU will continou to make Higher High and it is time to buy.
After It cant break the Resistance, EU will fall and going to support first before going up again
We can see, fake breakout on Support. So XAUUSD will go to Resistance
Renewing my Chart Analysis about AUSUSD, it has been touched the monthly support and confirmed with bullish engulfing candle with 3 pin pattern . So it is possible to make a higher low then.
Rally Base RAlly on AUDNZD, now it is making Higher Low on Base Area and will go straight rally
Bearish Flag on AUDJYP, I assume after break the flag it will continuing to fall
USDJYP will going to next Support and Demand Zone after hitting Resistance and Breaking strong Trendline and Support.
Reversal after touched the monthly Support, AUDUSD will reach on next Resistance.
Breakout on Resistance and then make retest with bullish harami candle. Will buy long with target next Resistance
After there are many rejection candle on EU. Finally find HnS pattern on H4. Short Target on Support 1.10060