Daily Technical Analysis by Admiral Markets - Page 15
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  1. #141
    JoshDavis is offline Verified Broker Support for Admiral Markets Senior Member
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    AUD/NZD Uptrend Intact

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    The AUD/NZD has formed a bearish Wolfe Wave after the retail gap that pushed the price up. The pair is still in downtrend on 4h time frame, so it could piggyback momentum from higher time frames to H1 chart. That means a potential bearish trade setup when Point 5 has been formed. Type 1 setup might happen when the price enters the POC zone (ATR high,Wolfe Wave point 5) 1.0805-0812. The rejection could target the EPA (Estimated Price at Arrival) target 1.0743. If the pair breaks above 1.0812 then traders should wait for the price to again close below 1-3 line for the Type 2 setup.

    Type 1 setup - Price enters the POC zone
    Type 2 setup - Price goes above the 1-3 line then break back below it

  2. #142
    JoshDavis is offline Verified Broker Support for Admiral Markets Senior Member
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    GBP/CHF Could Start Correction Soon

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    The GBP/CHF has formed a regular bullish divergence at Daily L5 support and currently shows a potential for upside correction. The POC zone 1.2665-75 (Multiple bottom, ATR pivot, historical buyers) might spike the price towards L4 and L3 (1.2759 and 1.2828). Have in mind that L4 (1.2759) is a strong resistance and price needs to break above potential head and shoulders pattern to proceed further up. At this point the price is supported by POC zone and bullish divergence and until 1.2759 is hit we should see an upside price action.

  3. #143
    JoshDavis is offline Verified Broker Support for Admiral Markets Senior Member
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    EUR/USD Confluence At Daily L3 Camarilla Pivot

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    The EUR/USD broke above 1.1200 level on Friday and it is normal that we are seeing the retracement at this point. Remember, always mark yesterday's high & low. Those were the definitive points where buyers or sellers came in the day before. Usually we see a retest of those points. Because the pair is in uptrend it could spike from the bullish POC 1.1155-70 (trend line, ATR pivot, D L3, 38.2) targeting 1.1211 followed by 1.1250-65. The ATR of EUR/USD is not that high, so pay attention to levels and POC zone. Ideally 1.1120 should hold for bullish scenario to be valid.

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