Tag Archives: Support

Buy Euro – Australian Dollar Let the picture speak fot itself. We where in an great uptrend and created a sort of wedge which broke out in August to the upside. Now we pulled back in this wedge, but since the wedge is allmost completed I think there will be another break out to the upside soon. After we touched the upside we may create a new wedge. But if we break that new wedge I think the change is bigger we break out to the downside to touch the red line. But but but, that will be in about 4 years from now, the bigger picture… TP: 1.722 SL: 1.577

Buy oil The wedge we are working on since April is now broken! This means we can go up again and gained enough momentum to do so. The first scenario is that we retest the wedge and after that we will go up till the resistance as first TP. As you maybe know it doens’t matter if you buy this USOIL, Brentoil or Crude oil as long as you change the SL and TP to your chart!! I hope I made it pretty clear where to find these numbers as you can take over this analysis. TP: 66.1 SL: 55.0

Buy Euro – Australian Dollar As you can see on the screenshot above we are moving in a double uptrend. The red line is the uptrend in the bigger picture, the other line in the smaller picture. I looks like we are going to create a wedge with the orange line as upside. So the first next upside target will be this orange line. We now found support on the earlier resistance zone. That is why now will be a good time to buy. Stop loss is placed out of the uptrend area, so that means if we get a reversal stop loss will be at a safe place. TP: 1.721 SL: 1.589

Buy Euro – Swiss Franc We hit an important support zone. If we look to the daily chart we can see this zone is a support for a very long time. In this picture we took the 4 hours chart to set targets. Our first target is the complete demand zone we can see up to the orange line. The orange line is a support and resistance zone for a longer time. TP: 1.131 SL: 1.108

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