The Aussie confirmed a potential bearish pattern, am talking about the head and shoulders that I have discussed for two weeks now.
Ever since the Aussie closed below 0.7640 on 24-03-2021 it has been moving side ways it has found support on a trend line bouncing off 0.759 today. This consolidation I believe is a breakout in the waiting.
A daily close below 0.759 will expose 0.7500 and the measured objective around 0.7300.
Resistance remains the neckline of the the head and shoulders currently at 0.76754.
AUDUSD daily time frame
GBPUSD rallied and topped with a bearish pin bar and started to retreat. it also broke out of an ascending channel and stalled.
Currently there is a descending in play and signifies and a continuation since descending channels almost always breaks to the up side.
There is horizontal resistance at 1.376 and trend line support at 1.352; there is a confluence of support at 1.3480/1.34816 any retest of these support will be an opportunity to get long. Targeting the channel and horizontal resistance round 1.370 and 1.37642.
A daily close above the will channel will expose 1.400 and 1.425. GBPUSD daily time frame
Bitcoin has been pressuring the all time high resistance I discussed last week.
In that article I highlighted the horizontal resistance and channel support. A daily close above 61450 will open the way towards the channel resistance around 75000.
Alternately, a daily close below the channel support might send the price to the next support at 50666. BTCUSD daily time frame
GBPJPY rallied impressively after it broke out of a multiyear trend line on the 28th of January 2021 moving over 1000 pips. The close above 152.480 turned to be false and also completed the formation of a bear flag.
Currently the price is hovering above the trend line support around 149.40.
A daily close below 149.40 will produce a deeper a pull-back.GBPJPY daily time frame
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