This pair is known as a pair trend because there are often long upward or downward trends. It is also often adapted to Swing Trading but because of its lack of volatility it is less popular with scalpers. A bullish shark pattern completion at 1.
Move back from support and a retracement towards 1. The actual developing structure we have is a rising wedge structure, which is a trend reversal pattern. We had the first strong down impuls on this pair based on the CAD strength. We are expecting a bigger correction at this level. Be patient and wait to see how price action develops. The pair is likely to extend weakness towards 1. It is unfolding within an ending diagonal structure. As long as prices are holding above 1.
An early break below 1. He also expressed his skepticism over the need for QE. Price is testing a resistance level given from a sliding parallel of a median line set - an upsloping one.
Selling from current level for a short term trade is a nice idea. The flag is broken and there is a potential pips to get at this trade. I've set my SL at 1. Exhaustion out to the top I am looking for candlestick confirmation and EXY slowdown to get in. And this is a really long term fibo position. One of the possibilities is that we will see it drop more as a start of wave 3. This chart is for a really long-term swing trade. Multi - time frame analysis.
Market Profile, Volume , Supply and Demand. This is pre - plan. I have set alarm and will wait how will market makers behave at that level when price arrive there.
We cannot say with certainty that the pair will be completing the 5th wave of the Ending Diagonal formation. The possibility exists that it could shoot down from the price it's currently found at. In my opinion, with how structure works it should make the last wave up, breaking the 1.
Looking at the bigger picture, the Weekly Looks for a nice opportunity with a great Risk-Reward-Ratio. It's a trend cont'd trade, so further targets possible.
Hello everyone, we have an opportunity to short this pair towards the highlighted area. For any questions leave a comment or DM me. Currently in an ending diagonal on wave 3,. Elliot completes and Wolf's wave begins. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...