Current Trend for Currency Pair
Let's take a look at hourly direction for EURUSD pair.
On hourly chart, price for EURUSD is above purple and pink belt. Trend is UP since 30th March 2016.
Since the hourly trend is up, on a smaller time frame, our focus is to look out for "buy" opportunities.
As you can see from the above chart, prices are staying above purple and pink on a smaller time-frame, coincide with H1 trend direction.
We also have candlesticks confirmation at purple zone this morning too. Price traded all the way to PAPLine-R3. Intra-day traders can choose to take profit at this level.
What about AUDUSD? Hourly chart shows that price is above purple and pink. Bias is to go for "Long".
On smaller time frame, same as EURUSD, price are well supported by purple and pink zone with candlesticks signals for entry at pink support zone.
Time now: 4:47pm from Singapore