Below is my take on EURAUD. The momentum is getting weaker as it approaches the psychological level which had turned out to be the previous resistance. I am looking for a sell from this level after a confirmation of a downtrend. However, if it breaks the previous resistance, upon retesting, I will be looking for a buy to the next psycho level.
Let's watch out from here.
EURAUD has just changed structure downward on the daily and on the 4H TF. However, it's finding support in the psychological area. What I will be looking for is a short from that position.
This pair is on the downtrend when you look at it on the daily and 4H.
What I will be doing right now is to look for a short. Presently, it's finding support on the psychological level, I will wait for a breakout of that level to ride it downward.
Here is an update to my earlier published EURNZD pair.
If you look intently at the pair on a daily TF, you will figure that it's a broken structure, meaning it's going down from here. I will keep looking at the pair for more updates before I jump in to trade the pair.
EURNZD has been on an uptrend for a while now. The red trend line indicates weekly support while the blue lines on the chart represent the daily support and trend line.
From the chart, it's obvious that EURNZD is having a healthy pullback to the support line.
What I will be looking at is how it behaves on the support line, both daily and weekly line.
Mind you,...
Below is my analysis of EURCAD.
On the chart is the support and resistance channel EURCAD has stocked into for a while now.
When looking at the Daily TF, you will notice that the pair is on an up-trend but found support in 1.46 area. Here is how I am going to trade this pair.
If it breaks down and closes below 1.46250 support, I will short the pair. However, If...
I expect EURJPY to continue the up-trend after that beautiful pullback on Friday.
Here is how I am going to trade the pair.
If it retests the 157.209, I will long it. However, if it continues and breaks structure on the 15M TF, open retest, I will long it and my first take profit will be 158.539, and my second will be 159.23, and my last take profit will be 159.764
USDCAD had a beautiful bull run owning to the report on Friday. However, the pair is still down-trending.
Here is my assessment of the market on Monday.
Sell USDCAD
Entry: @ 1.36010
SL: @ 1.36211
TP1: @1.35561
TP2: @1.35018
Kindly Do your own research.
From the USDCHF chart partan, the pair forms a higher high and higher low on the 4H TF.
It appears it will break the resistance upward and retest it before moving higher.
DXY found support on the weekly support zone.
And bounce back to an upward movement.
With the 4H bullish engulfing candle, DXY broke out of the neckline and now retesting the resistance now turned support.
If it holds, the first take profit will be 102.82469, second take profit will be 102.5289.
Kindly do your own research as this is purely my opinion.
