NZDUSD daily chart shows how price formed a double bottom formation at a support level and retraced back to the peak resistance level which was our 50% fibonacci retracement. After coming down to the 4 hours chart noticed how price formed an ascending channel at the resistance level. Price broke out from this structure giving a notice that it’s time
Price approached daily chart support level and has been moving with in the decending channel. As long we don’t break this support level and there is no daily close below support we wait for a price action reversal setup on a lower time frame for buying opportunities.
EURUSD Daily chart shows how price is moving within the Ascending channel currently it has made a potential third touch at the resistance level of @1.14100. More to that the last 3 daily candle closed as a doji ( Meaning neither buyers nor sellers are in control of the market) On the 4 hours chart there might be opportunity for
The GBPCHF has been trending to the downside since the beginning of May from resistance level of @1.34200 after a breakout of the ascending channel which gave it a high selling momentum Also not to forget, there was a daily closure below the recent support level of @1.28800 we did get some lower time frame pattern which confirmed a trend
The Daily chart shows a very long impulsive move from support level (@1.63000 – @1.63500) and made a move to our recent resistance level @1.71900 which has confirmed a double top pattern. We could see a more clearer information on 4 hours chart, Head and Shoulder pattern formed at the resistance level giving it a strong bearish move about to