We see a nice set up today for BCOUSD where it reversed nicely at its 1st resistance. Price could rise back to its 1st resistance before falling back down to its major support. We have also identified a bearish exit in its RSI which contributes to our bearish bias. We also see AUDUSD reversing nicely off its resistance where it could potentially fall further to its major support. Stochastic has also reversed nicely off its resistance where a corresponding drop in price could occur. Here are some of our nice calls previously:1. CADJPY rose to our 1st resistance before dropping in the direction of its major support:
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.