MarketBreakdown | AUDUSD, GBPCHF, EURCHF, NZDCAD
A lot of forex majors are standing on key pivot points right now.
Here are some of them that I am carefully monitoring at the moment.
1️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸
After a strong bearish movement, the price is retracing.
Currently, the market is testing an upper boundary of a major daily resistance cluster.
I still remain bearish biased and look for an intraday confirmation to short,
however, for now, buyers are showing their willingness to push.
I will be bullish on the pair after a daily violation of 0.76 level.
An important decision is ahead!
2️⃣ GBPCHF - Daily time frame 🇬🇧🇨🇭
We finally see a breakout attempt of a major daily resistance cluster.
Now we are waiting for a daily candle close.
If we manage to break and close below the underlined area,
bullish continuation will be expected.
3️⃣ EURCHF - 3 days time frame 🇦🇺🇺🇸
The market is trading within a major falling channel .
Currently, we see a test of its resistance.
Bullish breakout will initiate a strong swing move.
Wait for a breakout and be prepared to buy.
4️⃣ NZDCAD - Daily time frame 🇳🇿🇨🇦
The price is trading in a long-term bearish trend and contracting within a falling wedge pattern.
Recently, a strong daily support cluster was reached.
The market was trading in sideways for quite a while testing a major strong daily structure support area.
It looks like we are seeing bullish accumulation signs now.
Wait for a bullish breakout of resistance of the wedge as your signal to buy.