The EUR.USD is one pair on my watchlist into next week.
We have now seen price run into a strong resistance and psychological level at 1.0750 which dates back to 2015.
If we see a break and retest of 1.0750 i will be looking for opportunities to take this pair long back into trendline resistance dating back to 03.05.2016
If we see a strong reversal signal on the Daily & 4hr TF i will be looking to take this pair short looking to retest 1.0550
I will be updating this pair throughout the week.
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Monthly pattern outlook.
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A break and close above 1.0795 will be hugely significant.
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Although we have seen a strong bullish moving pre London, we are now starting to form bearish RSI divergence.
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4hr H&S formation
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Pending order now in place.
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Breakout has occurred, depending on market close we will be looking to take this pair long this week.
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Daily Pattern outlook.
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A perfect break and retest of 1.0750, i will be looking to take this pair long into this evening.
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Buy stop order now in place.
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Could this be the breakout we are looking for? Or a false breakout / bull trap.
Our pending orders are still in place to take this pair long.
Are you looking to take this pair on both long and short positions?