The EURUSD is sitting near an important level on the daily chart. Recent flows on the EURUSD shows that the pair still in the sideways range area, with the high, middle and low range like the chart show below. What I’m looking for right now is waiting for the price to break the low of the sideways area or the daily support level, then wait for the price to retrace or pullback to the level and start looking for the opportunity to go short.
EURUSD daily chart – zoom out
EURUSD daily chart – zoom in
Recently, price on the USDJPY has break the support level on the daily. This level has been respected several times in the past, with price bouncing and react around that level. With what this pair has been forming lately, I will wait for the price to pullback, retest to the old support level and start hunting for the opportunity to go short. I’m also talking about the opportunity if price forms any bearish continuation signal. The opportunity could appear in intraday or daily time frame.
USDJPY daily chart – zoom out
USDJPY daily chart – zoom in
Similar with the USDJPY, price on AUDCHF has break the daily support level and recently on its way to retest higher back to the old support level which now act as the new resistance level. I will wait for the opportunity to go short at the old level and start hunting for any bearish signal that might emerge on the intraday or daily time frame.
AUDCHF daily chart – zoom out
AUDCHF daily chart – zoom in