EUR/USD – Possible short term sell trend
Although EUR/USD has been in strong bullish trend especially when the resistance zone at 1.20577 was broken, we still see a possible short term sell trend for this pair as there are pinbar rejection at daily chart. Zooming into H4 chart, we can see that H4 swing point 1 has broken and price has retraced and triggered our sell entry zone. The safe TP area will be our TP1 or area above daily support zone and once price reached the support zone, we shall start looking for buy signal.
EUR/USD – Daily Chart
EUR/USD – H4 chart
AUD/USD – Price reached daily resistance zone
Similar to EUR/USD, AUD/USd has reached daily resistance zone around 0.80288 and we expect a correction to be done before price continue moving up. However, we will still advise trader to execute their sell entry after market shows confirmation such as break of daily swing point 1 as this pair is still in strong bullish trend. If the resistance is broken, we shall look for buy entry and forgot about the bears.
NZD/USD – Possible bearish dominant setup at daily resistance zone
NZD/USD has reached a strong daily resistance zone and price has started to consolidate. There is a huge potential that price is likely to do a pullback and we can go for a short term sell once the bearish daily dominant setup is formed. A safe stop loss would be right above the strong resistance zone.
USD/JPY – Strong bullish engulfing at daily support zone
USD/JPY has been in strong bearish trend since last week due to the poor data announcement in U.S. and the buyers have finally get back to the market just right before the market closed. Looking into H4, we can see that H4 swing point 1 was broken at daily support zone, which created a confluence zone for buy entry. A safe stop loss would be right below daily support and we expect price to reach our targeted TP1 area.
USD/JPY – Daily chart
USD/JPY – H4 chart
Want More Swing Trade Setups Analysis? In the trader community we discuss potential Swing Trade setups and provide detailed chart analysis on Currency Pairs and Commodities. Interested to learn how we trade ? Click here
To know more about Dominant Setups, click here
Interested to trade with us ? Join our trader community here