2017-05-07
Price action has already filled the previous Fib future D and is continuing bullish. D1 remains Bullish. Price has broken above and closed above consolidation channel and is heading to next structure resistance at 147.625. RSI and Stoch are overbought so a retracement is likely and may re-test previous support at 145.663 before heading up. I'll wait for an over sold signal and BUY.
Price action has already filled the previous Fib future D and is continuing bullish. D1 remains Bullish. Price has broken above and closed above consolidation channel and is heading to next structure resistance at 147.625. RSI and Stoch are overbought so a retracement is likely and may re-test previous support at 145.663 before heading up. I'll wait for an over sold signal and BUY.
Comment:
Retracement is in progress - looking to get down to 38.2 fib retracement at 1.29285 and then by on reversal of RSI and Stoch indicators. Target is then around 150 pips away.