GBPUSD waiting either upside breakout or downside breakout

 

GBPUSD is awaiting breakout either in upside or downside. The price is now in resistance level at 1.5890. At bottom, the price is supported by the rising trendline and 100MA of 4hr tf. The downside support is at 1.5760.

 

GBPUSD price look as if it is trapped inside the rising and descending trendline. Observation from the lower timeframe of h1 show the pair may forming a triangle.

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AUDUSD still inside triangle

 

AUDUSD still inside triangle. It now is forming a non-limiting triangle that the price may be contracting through the apex. The price is limiting by the 2 contracting trendline.

 

AUDUSD breakout to the upside target is 1.0080 and downside is 0.9820.

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EURUSD had a reversal

 

EURUSD just had a reversal last week and now is in the bearish trend. The price broke below the wedge and nowmoving down. The price now below the 21MA of h4 tf. The first price target is at 1.34 of the end of wave b in HEW and the second target is at the start of the wedge of 1.3255 and it should be achieved very fast. Support level is at 1.35 and 1.342. The resistance level is at 1.3760.

 

EURUSD had a big bearish candle forming a breakaway formation indicating the trend reversal. The daily support is at 1.3420 and resistance is at 1.3758.

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GBPUSD is at support level

 

GBPUSD is now just above the support level and testing it. The price tested the resistance level and fail to close above it. The support is at 1.5890 and resistance is at 1.5990.

 

The GBPUSD is above the 100MA of daily tf and just below 100MA of weekly tf. The price may either break above the down trendline or below the rising trendline. 

 

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Gold is still in downtrend.

 

Gold is still in downtrend. The support level of 1323 had been broken and now had become resistance area.

 

The daily chart show the consolidation of gold is complete and now it is going for downtrend. The price just break below the 100MA.

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AUDUSD still in triangle

 

AUDUSD is still struggling inside the triangle awaiting breakout. The price is now at the lower rising trendline and also support area of 0.9870. The resistance is at the 0.9970.

 

The AUDUSD breakout from the upside will bring the pair to the appropriate target. 

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EURUSD reached retracement 61.8%

 

EURUSD reached retracement of 61.8% although it rise slowly. The EURUSD had formed a rising wedge. The price will either rise above the wedge or break below the wedge for bearish trend. However, wait for confirmation before going short. The pair had reach the resistance level of 1.3750 and is slightly down. The support is at 1.3640.

 

EURUSD daily show another bullish candle. The 25MA is crossing the 100MA indicating long term trend is uptrend. The support is 1.3578 and next daily resistance is at 1.38.

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Gold rebound from double bottom

 

Gold price rebound from the double bottom and now nearing the resistance area. Fundamentally the rise is due to the news that US is going to continue printing money. The price will rise if the fundamental is still intact. Technically ,the gold price is just above its minor support of 1338. The H4 tf chart show the price rejected from the bottom with a piercing pattern and now move higher. However the price must break above the resistance line to move higher.

 

The daily chart just show a morning star pattern indicating the possibility of a reversal trend. The price is just above the 100MA of main support area.

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GBPUSD is now rising back up after significant drop

 

GBPUSD has rising back up after a significant drop due to the negative GDP data. The chart show that this pair may be forming a flag and pole but still need a confirmation of breakout on the downside. The price is now just above the support level and expected to test it soon. The support is at 1.59 and the resistance is expected at 1.5950.

 

The GBPUSD show a bullish candle. The candle resistance at upside is 1.60 and support is at 1.575. 

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AUDUSD is still inside triangle

 

The AUDUSD is still inside triangle awaiting breakout. Personally, I favor the breakout to the upside but I will be open to both side. The support is at 0.988 and resistance is at 1.0025.

 

AUDUSD daily chart show another small doji candle. The market is still consolidating inside the triangle.

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EURUSD is in sideway market

 

The EURUSD is in sideway market and hovering slightly above the support level. The range play is between 1.364 and 1.372. The support level is at 1.35 and the resistance level is at 1.3768.

 

EURUSD daily candle show a spinning top. The market stall around the area either awaiting breakout at the upside or to the downside. 

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AUDUSD may be forming triangle

 

AUDUSD may be forming a traingle awating breakout. If the breakout occured at the top of the trendline, the price should rise to 1.0065 for target 1 and near 1.0200 for target 2. The pair may break the trendline and had a retest of the support. The price is once again above the 100MA. The support level is at 0.989 and resistance is at 1.002.

 

AUDUSD had a big spinning top and also inside bar for the daily candle. The breakout of the top should bring the pair higher to target 1 and target 2. The price is testing the 21MA once again.

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EURUSD moving higher slowly

 

EURUSD moving higher slowly following the trendline. The pair is still having no sign of correction. The support level is at 1.362 while the resistance is at 1.3750. 

 

The EURUSD rally show a small bullish candle indicating the bullish trend is in weakness. The resistance is at 1.375 to 1.38. The support is at 1.36 and 1.35.

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AUDUSD fail to break above the descending trendline

 

AUDUSD fail to break above the descending trendline and drop back to test the 21MA of 4hr tf. The pair had a significant rally to the 78.6% retracement yesterday. The support is at 0.9925 and 0.9880 while resistance is at 1.002.

 

AUDUSD had a bullish candle indicating the bullish trend. The pair is trading just below the 21MA of the daily chart. The pair had tested the 21MA line many times but fail to break above it. The support is at 0.998 and resistance is at 1.008. 

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EURUSD rally and now above the support area.

 

EURUSD is now above the support level after rebound from the support area. The price is testing the resistance top. The intermediate support level is at daily pivot at 1.3622. If break above the resistance is at 1.3685, the pair may rally to the next resistance of 1.3750.

 

EURUSD is yesterday had a spinning top candlestick indicating price is stalling or undecided. The support level is at 1.3450 and resistance is at 1.3750. The 25MA is about to cross the 100MA and turn the trend to long term bullish.

 

EURUSD has the possibility to reverse at the mark area. 

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AUDUSD is at support area

 

AUDUSD is at the support area. The 21MA and 100MA is undecided. The AUDUSD may rise to 0.9970 before turning down.The support level is at 0.9822 resistance level 0.9955.

 

AUDUSD show a doji or inside bar. The AUDUSD is awaiting breakout. The downside support is at 0.9750 and resistance is at 0.9977. 

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EURUSD inside the resistance area

 

EURUSD is inside the resistance area. The break of the resistance will probably bring the pair to 1.3750. The support is at 1.3510 and resistance is at 1.3700~1.3750. 

 

The EURUSD show a very bullish candle after a doji candle. The pair is still above the 100MA of daily chart. The support is at 1.3450 and resistance is at 1.3750. 

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AUDUSD is dropped and rectrace all of wave c

 

The AUDUSD drop after hit the 21MA of the 4hr tf and has rebound from the support or the H&S neckline. Break of the support may indicate the H&S in play. The support is at 0.983 and resistance is 0.99.

 AUDUSD had a big bearish candle yesterday indicating the bearish sentiment. The break of the H&S trendline and the price will go way down. Support is at 0.976 and resistance is at 0.995. 

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EURUSD is in triple top

EURUSD is now testing the triple top. Either it will go down or break. The market just rebound from the 21MA of the 4hr tf. If break to the upside, the target is 1.3580~1.36 area. The support is around 1.34 area. 

 

EURUSD in daily show a doji candle meaning undecided direction. Beside the doji also performed a tweezer top. The support is at 1.325 and resistance 1.36.

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AUDUSD dropped after hit the abc retracement.

 

AUDUSD dropped hard after nearly hit 1.008 to complete abc retracement. The pair is now dropping near to the lower channel . The price is now below the 21MA and 100MA of h4 tf. The support is at 0.9900 and resistance is at 0.998.

 

AUDUSD is in a daily chart show a shooting star indicating potential reversal. The price may complete a evening star if the price close below the bullish candle. The price is now below the 21MA . The support is now at 0.988 and resistance is at 1.003. 

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EURUSD now at the lower trendline.

 

EURUSD is now at the lower channel of the trendline. The EURUSD is also around the support area. Breakout to the upside will test the high while downside will probably go to the next support at 1.3355. The resistance is at 1.35 and support is at 1.3255.

 

The daily candle show a bullish candle. The upside resistance is at 1.36 while support is at 1.325. 

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AUDUSD is testing the resistance

 

AUDUSD is now testing the resistance level. The pair may retrace to 61.8% of 1.008 at the higher trendline of the channel. The pair trading above 21MA and the 21MA and 100MA of 4hr tf is about to cross if the uptrend continue. The support is at 0.998 and resistance is around 1.008~1.01.

 

The AUDUSD breakout from the inside bar and perform a bullish candle. The resistance is at 1.01 and support is at 0.998. 

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EURUSD is near resistance level

 

EURUSD is now near the resistance level. The next resistance level is at 1.35. Breakout will probably bring the pair to higher high. The price is now forming a uptrend channel. The price rebound from the 21MA and now traded above it. The support is at 1.3352.

 

EURUSD yesterday had a bullish candle that closed higher than the bearish candle indicating further bullish sentiment. On the daily chart, the pair succesfully retest the 100MA and closed above it. The may indicate long term bullish trend. The support is at 1.325 and resistance is at 1.36. 

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AUDUSD maybe forming triangle

 

AUDUSD is making lower high and higher low indicating it is in a triangle. The price is moving in a more tight range. The support is at 0.988 area and resistance is at 0.9973.

 

AUDUSD yesterday daily candle is an inside bar or bullish harami. But the big shadow of the spinning top at both sides show the undecided condition of the market. The breakout may either move the price to support of 0.9820 or resistance of 1.0025.

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EURUSD retrace lower

 

EURUSD is moving lower and testing the downside trendline it broke out. The market may be forming a flag pattern of a retracement or the market may turn bearish. The price had now narrow at the flag and awaiting a breakout. The support is at 1.3250 and resistance is at 1.34. If the breakout to the downside occurred, the pair next support is at 1.318 area.

 

EURUSD in a daily candle show a bearish candle and also a dark cloud cover pattern. The support is at 1.31 and resistance at 1.3425.

By The Backyard Burner