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AUD/CAD Retesting Big Resistance

Daytrader21 Przesłano 15 Sty jako Analiza AUD/CAD, Cel: 0.9482, Data: 2 z Marzec, 12:00 GMT  w #Technical analysis #Support #Resistance #AUD/CAD #Pivot Point #Range #Trading Boxes #Down Channel
AUD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can tell that over the year this range boxes have narrowed and the market it's moving clearly between support and resistance.
Right now the market is at an very important inflection point which is the 0.9800 level, which is a pivot point. this level has provided in the past good opportunities and it has acted both as support…
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Daytrader21 avatar
Daytrader21 24 Sty

Update 1. Last week upside spike was a "throw over" pattern which based on Elliott Wave it signaling a reversal in price. Based on our charts the spike towards big round number 1.000 was a throw over, a false breakout above down channel. It's a also a "V" shape top and if we take in consideration we're in a downtrend we should expect the trend to resume

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Daytrader21 14 Luty

Update 2: As per my previous update price has confirmed that we had a false breakout as we're now back within the channel range. Also it appears that based on Elliott Wave we're forming a flat formation in which case we should expect to see a retest of previous low at 0.9400 whihc is also around my forecast level.

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EUR/GBP DOWN CHANNEL?

Metal_Mind Przesłano 14 Lip jako Analiza EUR/GBP, Cel: 0.8380, Data: 2 z Wrzesień, 12:00 GMT  w #Technical analysis #Pattern #EUR/GBP #Target #Down Channel
EUR/GBP has begin a bearish trend for some time and it is in a cristal clear down channel which can be seen more clearly in the first chart.I tend to think this pattern is very strong since it follows very well fibonacii retracement levels. As can been seen in the second chart it retraced on each major level but the down channel picture remained very strong .My personal wiew is another retrecement from the 23.60 fibonaci level of (0.8623) towards the level (0.8380) for the 2nd of September and a…
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jezz avatar
jezz 15 Lip

I think the trend has an expiry date with German elections when it can radically reverse or go downward... my bet under current circumstances is up or sideway. Until then, bear.

annatimone avatar
annatimone 23 Lip

I think EUR is generally bear.

Metal_Mind avatar
Metal_Mind 23 Lip

that is my position to @annatimone

Metal_Mind avatar
Metal_Mind 23 Sie

Update: With 9 days to go till deadline the curent price today is 0.8565 and the trend encounter a resistance zone on 23.60% retracement level . We have 4 daily bars trying to break higher 0.8570. The bias is mixed right now . We can't speak of target reach until the trend don't break lower of that 4 days range it is right now.

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Metal_Mind 1 Wrz

Update : With one day till deadline we are 147 pips from target.Tomorow we have markit manufacturing pmi release ,with moderate volatility which may strengthen the pound if current trend of good releases would continue tomorow.That might move the pound closer to target since now have begin a descending trend on weekly.In case the news are not enough to make a strong move , a target for tomorow can be the range supports at 0.8460.

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