2009: Price was and Broke Major Support (1.59) in 2010. Price became to test new found resistance (1.59) but was unable to break this level.
EMA: 200 Acting as magnetic resistance (1.59) level.
50: Price has recently broken this acting as Magnetic Support.
Resistance was tested (2014,2015,2016) All times unsuccessful in breaking this level with Aggressive rejection making price .
FIB: 0.5 Retracement. 0.382 Broken
2015: Lower lows and Lower highs Forming till present (See Chart + Arrows)
Lower (2012- Present) recently Broken, making price potentially
(2015) 200 acting as magnetic support 2015 - present but bears have recently pushed price below 200 making price potentially
All other Currently above price ( )
200 Acting as Magnetic Resistance. Signalling . (September 2016)
all other above price ( )
Duration of Trade: Long Term
Decision: I have decided on Evidence above to be on this Pair. I believe the future of this pair can be potentially for years to come due to common Signals.
I will Be applying a
sell stop: 1.4323
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.
Remember to always trade your strategy