On the Monthly you can see an H&S pattern forming.
On the Weekly chart there's been good selling pressure, it hasn't been able to get passed the monthly pivot resistance for 5 weeks now.
The trend support line is also on the verge of being broken, when it does enter this short.
My first target for this short is 1.44, depending on price action towards 1.40 is possible.
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News upcoming: ECB Rate decision on the 25th
On the Weekly chart there's been good selling pressure, it hasn't been able to get passed the monthly pivot resistance for 5 weeks now.
The trend support line is also on the verge of being broken, when it does enter this short.
My first target for this short is 1.44, depending on price action towards 1.40 is possible.
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News upcoming: ECB Rate decision on the 25th
Comment:
The "W" pattern is completing, the drop should confirm and hit my sell stop
Comment:
Should hit the sell stop next week from the looks of this
Order cancelled:
Well that obviously did hit the sell stop.