Re: Euro - volume again yesterday was lower than the day before making down move questionable. So far today volume has picked up somewhat so maybe whichever direction it moves will give more clarity?
Hi! What do you think about GBPUSD? The situation is uncertain for me...But I think about it like this: GBPUSD pair reached the resistance level of 1.3292 during its upward movement, but then rolled back below the level of 1.3248, forming a horizontal range or flat between this resistance level and the support level of 1.3202. Important news from the economic calendar will be published soon: this is Eurozone news and US news. Therefore, a sharp increase in volatility and sharp movements in this currency pair are possible. In case of a breakout of the upper border of the above-mentioned range, the targets for a bullish movement may be the resistance level of 1.3292, then 1.3330. In case of a breakout of the lower border of the range, the target for a bearish movement may be the support level of 1.3122.
Hi! Considering the current situation on the EURUSD pair, first of all I would like to note that today many countries around the world celebrate Good Friday, including America and Europe. Therefore today I think that there will be no large-scale movements on the market in this pair. At the moment the price has formed a horizontal range on H1, its breakthrough can show the direction of movement.
Hi! The USDCHF pair is demonstrating a downward trend on higher timeframes. Considering the situation on the H1 timeframe, I would like to note that the price has finally exited the horizontal accumulation (flat) formed between the resistance levels of 0.8233 and the support level of 0.8117, breaking through its lower side. I am considering the continuation of the bearish movement with the target of the support level of 0.800.
Have a successful trading day! I would like to consider the situation that has developed for the USDJPY pair. The trend is still downward on high timeframes, and a downward channel has formed on the H1 timeframe. At the same time, there was a rebound upward from the lower border of this channel. I am considering short-term purchases to the upper border of this channel.
Hi! The price of the EURUSD pair has left the previously formed range, breaking through its upper border and reaching the resistance level of 1.1550 that I indicated earlier, now we see a rebound downwards. It is also clear that the local descending trend line on the H1 timeframe was broken upwards, this may indicate a possible change in trend to an upward one. The first target for a bullish movement may be the resistance level of 1.1426. In case of its breakthrough, the second target may be the resistance level of 1.1483.
Hello everyone! What do we see on the GBPUSD pair and on the H1? price came out of the previously formed triangle, breaking through its upper side. It's also clear that the support level of 1.3245 turned out to be quite strong, not letting the price go lower and bouncing it up after a repeated retest. Therefore, it's possible to test the inclined line of the ascending local trend on this timeframe with a rebound from it upwards with the target being the resistance level of 1.3362.
Hi! I would like to analyze the situation on the USDCHF pair. On the H1 timeframe, the price broke through the local ascending trend line downwards. At the same time, there was a rollback to this line and its retest with a rebound downwards occurred, which may indicate a corrective downward movement. The target in this case may be the support level of 0.8263. The reaction to this level may show where the price can move further more comfortably.
I prefer to draw TL's on lower timeframes (1 and 5 min) to apply to higher timeframes. Here's M5 look at USDCHF:- Easier to find the correct key reversals (closing prices determine which are most important) to plot lines from.
I wish a good trading day! Analyzing the situation on the USDCHF pair on the H1 timeframe, it is clear that a range has formed on this timeframe between the resistance level of 0.8322 and the support level of 0.8214. The price has already bounced off the above resistance for the second time. I am considering sales within this range to the support of 0.8214.and further to support 0.8117