USDCAD Is Looking Higher Within A Five-Wave ImpulseUSDCAD is breaking higher, now making some extended upward move which is acting like an impulse because of an extended and sharp move up from 1.3. As such, we think this can be impulse wave 3 where pair can slow down for a corrective pullback into wave four. Ideally that upcoming wave four will then stop and stabilize at the upper line of a base channel.
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Pullback
Important levels on EURUSDWe are still not trading EURUSD and waiting for better entry opportunity.
Current price levels are important to determine what will be the next move.
Right now, EURUSD doesn't give us any entry confirmations but we will be waiting for the 0,9643 level.
In case of rejection around that level, we will have to see if price will gain enough strength to continue higher.
We recommend waiting for further confirmation or pick another pair to trade.
types of pullbacksIn this lesson, I shared with you the types of pullbacks
Be careful, pullbacks are breaks in the middle of the trend
Poolbacks do not have the strength of main steps
In my opinion, the best type of trading with pullbacks is to recognize the completion of these corrections patterns so that we can move in the direction of the trend at the right point.
Of course, it depends on your trading time frame.
EURUSD H1 analysis Like we said yesterday, the downtrend on EURUSD is still valid and the best trading opportunities will appear as soon as price confirms another downside push.
However, it is still early to enter short and expect to see a breakout of the previous low.
We are now waiting for the pullback to continue and trick us a few more times.
That's why we should reduce the amount of trades and position size before we see a clear setup.
We could potentially see a drop to around 0,9750 and then another push higher maybe taking price above the parity level.
No trades on EURUSD Yesterday, EURUSD reached the parity level again.
That means, we could possibly see continuation up in the next few days.
Right now we won't trade EURUSD as current price levels are not good for entries.
We are still in a downtrend on the Daily chart and the best opportunities will be once the market goes back to the downside!
Wait for rejection on EURUSDAfter a very definite downtrend, it's now time for a pullback on EURUSD.
Right now, we don't have any signals to sell yet.
Today, we need to observe and see how it will react between the levels of 0,9850-0,9930.
In moments like this, it is very important to show patience and wait for the right signal to enter a trade.
The downtrend continuation will be confirmed on a breakout of the previous low!
Is it time to sell EURUSD?EURUSD rejected the sell zone on Friday.
Now, we could see the beginning of the next downside move.
You can wait for a confirmation which will be a breakout of 0,9731.
However, selling right now is not yet confirmed as we can easily see price going above 0,9854.
The direction is still to the downside and we are only looking to sell!
Stop buying the EURUSD EURUSD completed the upside move to 0,9850 pretty quick.
That means, it's probably best to close all long positions and wait for the right moment to enter again.
We could see a continuation up but buying right now is probably not the best idea.
You should focus on price rejecting the zone.
It could take some time until the market gives us a clear move and that's why you should wait for a further confirmation.
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💥Due to the breaking of the Downward trend line🖤 by the price, we can expect the price to rise when the price pullback❗ to the Downward trend line🖤 in the overlapping area of the Downward trend line🖤 and Support🧡 until the SUPPLY zone🔺🚀
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__________📈TRADER STREET📉___________
EURUSD Big Picture Pullback into Continuation ShortsEURUSD made a push to the mid 0.9530s during Asian Session (Sept 28,2022), recovering nicely again to just below previous NY Lows of 0.9580s during London. At this time the 1H Timeframe was in a beautiful downtrend but giving Price Action signals of a possible break.
From a Big Picture point of view, I wanted to see price make a recovery and break again above the 0.9600 (this has just been done during the NY Session (Sept 29). We have a clear break in structure from 1H down, and I am currently waiting on a Pullback to enter on a Long Position and ride the higher timeframe pullback as shown.
Possible Entries: 0.9600
0.9573
Stops between 10-15 pips below these entries
Targets:
Target 1: 0.9750
Target 2: 0.9825
Note: this is not trading advice and/or signals, do your own analysis and manage your risk accordingly.
Would love to hear your feedback. Best of luck in your trading.
GBPJPY - SUPPORT BECOMES RESISTANCE 📉
the GBPJPY price breaks the daily support level ,the old support becomes new resistance level ✔
the key level is broken (1H Break of structure)
so, i predict a bearish move 📉
TARGET: 149.738 🎯
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
EURCHF - SUPPORT BECOMES RESISTANCE 📉
the EURCHF price breaks the daily support level ,the old support becomes new resistance level ✔
the key level is broken (Break of structure)
so, i predict a bearish move 📉
TARGET: 0.94228 🎯
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
EURUSD continues the downside move Yesterday, we saw rejection of the 0,9585 support level. This level should turn into resistance after a breakout.
The downtrend is still on and we should see price heading back to 0,9568 and then eventually 0,9510.
Entries only after further rejection! We're not looking to buy!