Swing Trading ideas - page 42

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EURUSD’s downside movement from 1.1514 extended to as low as 1.1314. Further decline is still possible after a minor consolidation and next target would be at 1.1250 area. Near term resistance is at 1.1350, a break of this level could bring the price back to 1.1400 area.
 
GBPUSD extended its downside movement from 1.3217 to as low as 1.2853. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2800 area. Key resistance is at 1.2996, above this level would indicate that the downside movement had completed at 1.2853 already, then the pair would find next resistance level at around 1.3100.
 
USDCAD remains in the downtrend from 1.3664, the bounce from 1.3068 is likely consolidation for the downtrend. As long as 1.3375 resistance holds, the downside movement could be expected to resume, and next target would be at 1.2900 area. Only a break of 1.3375 resistance could signal completion of the downtrend.
 
GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3217. Further decline is still possible in a couple of days and next target would be at 1.2750 area. Key resistance is at 1.2996, only break above this level could signal completion of the downtrend.
 
GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3217. Further decline is still possible in a couple of days and next target would be at 1.2750 area. Key resistance is at 1.2996, only break above this level could signal completion of the downtrend.
 

EURUSD is in consolidation for the downtrend from 1.1514. Range trading between 1.1234 and 1.1341 would likely be seen in a couple of days. As long as 1.1341 resistance holds, the downtrend could be expected to resume and a breakdown below 1.1234 support could trigger another fall towards 1.1100. Only a break of 1.1341 resistance could signal completion of the downtrend.


 
GBPUSD broke above the top trend line of the price channel on the 4-hour chart. Further rally towards 1.2996 resistance could be expected in the coming days, above this level could signal completion of the downtrend from 1.3217. On he downside, as long as 1.2996 resistance holds, the bounce from 1.2772 could be treated as consolidation for the downtrend, further decline towards 1.2700 is still possible after the consolidation.
 
EURUSD broke above 1.1341 resistance, suggesting that the downside movement from 1.1514 had completed at 1.1234 already. Further rally could be expected in a couple of days and next target would be at 1.1400 area. Support levels are at 1.1275 and 1.1234, only break below these levels could trigger another fall towards 1.1100.
 
EURUSD extended its upside movement from 1.1234 to as high as 1.1371. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.1400 area. Only a breakdown below the trend line support could trigger another fall towards 1.1100.
 
GBPUSD moved sideways in a narrow range between 1.3010 and 1.3108. As long as 1.3010 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2772 and further rise to 1.3200 area is still possible after the consolidation. On the downside, a breakdown below 1.3010 support would indicate that the upside movement had completed at 1.3108 already, then deeper decline to 1.2900 area could be seen.
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