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Aussie/Dollar is due for a retracement

positive Posted 9 Dec.  in #Trader's blog #AUD/USD Technical Analysis
Aussie dollar has seen a downward movement of almost 800 pips since last seven weeks as can be found in the weekly chart below. Now, from the price action trader's point of view, it is due for correction. Let us see how do I interpret the interpretation based on weekly, daily and monthly charts respectively.
AUD/USD weekly chart
AUD/USD daily chart : As we can observe, last Thursday was an inside day and on Friday, initially the price breaks the low of the inside bar and then comes back strongly…
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GBP/USD signals heavy bullishness

positive Posted 6 Dec.  in #Trader's blog #GBP/USD Bullish Signals #Positive Divergence
GBP/USD 4 hour chart : 2 days back, I have presented a weekly chart of Pound/US Dollar and as per my analysis the area of 1.6300 to 1.6350 was a key support zone and also it remained a confluence area. The more evidence for a bigger up move in the coming hours can be seen from the positive divergence found on the 4 hour chart. Starting from 2nd Dec, price has made 3 lower lows. 1st one at 1.6340, 2nd one at 1.6320 and the last one at 1.6300 yesterday. For the each of those corresponding lower lo…
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EUR/JPY heading towards 145

positive Posted 5 Dec.  in #Trader's blog #EUR/JPY Technical Analysis
After almost 6 months of consolidation, EURO/YEN broke out of its range last month and continued its up move till the month end and closed in the area of 139. On Monday, the price touched BRN 140 levels and for the next few days price corrected by almost 150 pips. 138.50 was a confluence area since that zone had weekly pivot point and 50% of weekly Fib retracement. Today, the price takes support at this area with a double bottom pattern on 4 hourly chart with second bottom printing a pin bar. …
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GBP/USD - 1.6300 - 6350 a key zone of support

positive Posted 4 Dec.  in #Trader's blog
Some how I am unable to insert image in to the blog. On a weekly chart, 1.6300 area remained a huge resistance zone with price making multiple visits to this area in the past . The last weekly bar breaks this area upside and closes well above this key resistance zone.Hence the flip in resistance now becomes a key area of support. As we can observe in the chart below, the price is nearing the retest area with low momentum.
On a daily chart 1.6300 zone remains a huge confluence area because of hu…
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