Analysis

Analysis and Trading Plans for FOREX pairs, S&P, DJIA, etc.

Megaphone Pattern at EUR\CAD

Megaphone Chart Pattern FOREX

AUDNZD: Bearish Megaphone

AUD\NZD Bearish Megaphone Chart Pattern

A bearish Megaphone chart pattern has appeared at the AUD\NZD exotic pair. The Megaphone chart pattern consists of two expanding trend lines that bound price action. The expansion movement suggests that the trend is not regular and is about to reverse.

AUD\NZD Ascending Channel - 120 Pips

Channel Chart Pattern

Pattern: Ascending Channel.
Reliability: Very reliable (over 75% win rate)
Size: 120 Pips in size.
Trading: Upon breakout downwards, enter short trade. Upon pullback to the support level, enter short trade. Target is 120 pips.

EUR\USD Fibonacci Retracement

After a strong uptrend, the EUR\USD has lost momentum for a short while in the last day. It is now showing signs of a continuation in trend as it has touched the 23.6 Fibonacci Retracement level and is beginning to regain strength.

A bullish continuation is expected.

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