Crucial level on EURAUD & NZDUSD

Price on EURAUD has broken above the daily resistance. The daily chart below shows the daily resistance and how this level now becomes the level that I mark as the important level for the price to makes a re-test and grinding higher. Recent momentum on this pair shows that EURAUD has been traded higher and then traded sideways before make a new fresh high. 

EURAUD daily chart

EURAUDDaily-160524

On the 4-hour chart, we can see that price been traded choppy and retest the resistance level three times before move higher.

Right now, I will wait for the price to re-test and pullback lower to the old resistance/ new support level then start hunting for an opportunity to go long.

EURAUD 4-hour chart

EURAUDH4-160524

 

Price on NZDUSD is attempting to break lower and through the daily support level. Recently, the price has been tried to break this support level and doesn’t succeed. In the recent attempt, price formed 2 small pin bar and then rejected. In my opinion, it makes this level become crucial at the moment. If price can break the daily support level, I will start hunting for the short opportunity.

NZDUSD daily chart

NZDUSDDaily-160524

NZDUSD 4-hour chart

NZDUSDH4-160524

 

Follow me on twitter and facebook for more analysis.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: