Wednesday, November 6, 2013

GBPAUD CHFJPY EURCAD Price Action Setup, Nov 5th 2013

 The Chart above is that of CHFJPY daily. It brokeout bullishly on the 22nd of October but failed to push through. The "failed break" as many may call it still keeps the pair within its bullish bias until at least, the support zone as indicated above is clearly broken. In the meantime, bullish entries will be sort from that zone as price possibly makes a failed bearish push within it.

 EURCAD Chart as seen just above shows a pair clearly in a bullish mood. The last bullish break on the 22nd October pushed the pair into a 12months high, with the pair haven gained about 2000 pips from its low dating back to August 2012. This bullishness has intermittently witnessed corrective sell-offs like we are having at the moment but bullish entries will still be sort as the pair delves into our mapped out support zones. The chart above shows from about what region the bulls could get back in.

GBPAUD as shown in its chart above has had its momentum changed from bullish to bearish. Though at the moment, the pair does seem to be setting up for more bulls, it still needs to respect the bearish break it gave off as Ive indicated in its chart. However, pullbacks into the resistance zones as labelled on the chart has to occur for any reasonable sell entries triggering.


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