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Breakandretest

FOREX - WEEKLY OUTLOOK FOR THE WEEK OF 1/24/21 - 1/29/21 Weekly analysis for the coming week. The volume was not there last week. Hopefully this week we get some momentum in the markets. Indicator list: - MA HIgh 5 Offset 3 - MA Close 21 offset 3 - Vortex Indicator 14 preset FOREIGN CURRENCY TRADING IS HIGHLY SPECULATIVE AND RISKY. TRADE AT YOUR OWN RISK. Trading forex on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before participating in the FX market, you should carefully consider your investment objectives, level of experience, and risk appetite. You should trade in foreign currency contracts only if you understand the contracts (and contractual relationships) into which you are entering and the extent of your risk exposure.
by Omarlop3z
NZD/CAD - Break of Structure and Textbook B&RWe've seen NZD/CAD in a long term uptrend. We see a break of structure, a retest of a previous structure low before bears enter the market. Look at these textbook break and retest setups and potential entries you can take to the downside! A break and retest is when price breaks through a previous low in the market, retraces and tests this level as resistance before continuing the downside move. Watch out for these types of setups across your currency pairs!
Short
by Jal121
2
NZD/USD - Textbook Break and Retest SetupsNZD/USD has been on a long term uptrend since March 2020. Zooming into the 4hr we can identify an ascending channel that has been respected for some time. Here can see that key levels are being broken to the upside and price is coming back to retest the level as support. From these levels we can take out long positions as a break and retest setup. It will be interesting to see whether price continues it's bullish move and break through the 0.73 whole level, already once respected. Drop me a message if you'd like to ask any questions.
Long
by Jal121