Forex cycle - EURUSD-GBPUSD-AUDUSD
Feb 20, 2019 at 06:49
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3 Replies
Biedrs kopš
561 ieraksti
Feb 20, 2019 at 06:49
(labots Feb 19, 2019 at 06:07)
EURUSD is facing 1.1341 resistance. As long as this level holds, the price action in the trading range between 1.1234 and 1.1341 could be treated as consolidation for the downtrend from 1.1514, another fall towards 1.1100 is still possible after the consolidation. On the upside, a break of 1.1341 resistance would indicate that the downside movement had completed at 1.1234 already, then further rally to 1.1400 area could be seen.
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Biedrs kopš
1 ieraksti
Feb 21, 2019 at 07:57
How about GbpUsd?
Biedrs kopš
561 ieraksti
Feb 21, 2019 at 10:55
GBPUSD stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 1.2772. As long as the trend line support holds, the fall from 1.3108 could be treated as consolidation for the uptrend, further rise towards 1.3200 is still possible after the consolidation. Only a breakdown below the trend line support could bring the price back to 1.2900 area.
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Biedrs kopš
561 ieraksti
Feb 21, 2019 at 12:03
AUDUSD’s upside movement from 0.7054 extended to as high as 0.7206. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.7250 area. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 0.7206 already, then another fall to 0.7000 area could be seen.
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