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AUDUSD potential reversal pattern
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It is no secret that the AUDUSD pair has been in a strong uptrend for quite some time. That trend has been capped recently at 1.0200. My thoughts now turn for reversal possibilities. There has already been a break of the daily trend line established back in August. Before the last high a former resistance area was found from the 0.9900 to 1.000 zone. If this duplicates on the right side of the high it could form a head and shoulders reversal pattern and the beginning of a leg down. Using this overall outlook I will begin to drill down to smaller compressions and look for entries for sells between the 0.9900 and 1.000 zone. Fibs of the last run down on the
Buy EURUSD at 1.3585
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Buy posted at 12:50 pm ET for reversal set up. This pair has seen a fall this month from 1.4300 down to the mid 1.3400’s. In the most recent days a short climb back to the upper 1.3700’s has…
Pending Intraday Trade Posted
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! USDCAD pending buy at 1.0135 posted at 8:50am ET. Convergence of multiple technical indicators presents a barrier for support at this level. On the 1hr chart the Tunnel, Trendline, Historical Resistance and Fibs from the previous downtrend and current…
Buying USDCAD at 1.0070
Want FULL ACCESS To ROSS’ DAILY TRADE ROOM? Simply Click The Get Started Button Right Now! Today we are testing the top of last weeks range highlighted in blue in the chart image. Looking for support and bounce back to the low to mid 1.0100’s within this weeks range highlighted in yellow. Also we are bouncing…