Monthly: On this timeframe price has been ranging between 1.27700 and 1.20, 6 consolidation candles in a row if you count this month's one. There isnt any identificable price pattern on this timeframe, though price is making lower highs
but has trouble breaking through the 1.25500 figure. Atm this monthly candle look like a dragonfly doji or some sort of hanging man. Im bullish on this timeframe, since the 1.20 and 1.22 were rejected succesfully throughout time
This month we might get a retest of the 1.27, it's very likely. If you look to the past months, price has been in a downtrend and the past 5 months has exausted of that move, that's why it's ranging right now
wekkly:Price is also making lower highs here, but got rejected at the 1.25500 level too, atm price has made a very bullish candle, in the 2nd week of march. the 1.23600 level held strongly as support, that's why
im expecting further upside for this pair in this timeframe
daily:also expecting further upside, price is making lower highs but can break the previous mentioned level. There's an inside bar that broke to the upside if you take a closer look. 3 bullish candles in a row the na bearish marobozu
(not engulfing the previous candle) that's why i think price will reach the 1.24500 level before continuing moving upwards. My stop loss would be below the 50% - daily sup level BUT im gonna wait for candlestick formations in that zone
Price might continue moving up atm, and in that case, i dont think well get a clean break through the 1.25500, if price breaks that level, we'd have to wait for confirmation of a breakout and not a fakeout. waiting or not, if price
breaks through the 1.25500 it will indeed retest it before continuing the move upwards, and you could buy that pullback. If my analysis does play out and i see some sort of rejection of the 1.24500 or a candlestick reversal pattern
on the lower timeframes in that zone THEN i will execute this idea, if not wait, because price is currently at a potential consolidation/reversal zone in the past, so never take my analysis for granted, markets are dynamic and they
move wherever they want, i dont move the markets, smart money does. Current dollar weakness, us economy bad news, gold price rallying up and trump threathning north korea with china gives me reasons to believe this pair will definitely
come up, you'll just have to wait for confirmation, dont trade out of fear of missing the move, markets wont go anywhere
but has trouble breaking through the 1.25500 figure. Atm this monthly candle look like a dragonfly doji or some sort of hanging man. Im bullish on this timeframe, since the 1.20 and 1.22 were rejected succesfully throughout time
This month we might get a retest of the 1.27, it's very likely. If you look to the past months, price has been in a downtrend and the past 5 months has exausted of that move, that's why it's ranging right now
wekkly:Price is also making lower highs here, but got rejected at the 1.25500 level too, atm price has made a very bullish candle, in the 2nd week of march. the 1.23600 level held strongly as support, that's why
im expecting further upside for this pair in this timeframe
daily:also expecting further upside, price is making lower highs but can break the previous mentioned level. There's an inside bar that broke to the upside if you take a closer look. 3 bullish candles in a row the na bearish marobozu
(not engulfing the previous candle) that's why i think price will reach the 1.24500 level before continuing moving upwards. My stop loss would be below the 50% - daily sup level BUT im gonna wait for candlestick formations in that zone
Price might continue moving up atm, and in that case, i dont think well get a clean break through the 1.25500, if price breaks that level, we'd have to wait for confirmation of a breakout and not a fakeout. waiting or not, if price
breaks through the 1.25500 it will indeed retest it before continuing the move upwards, and you could buy that pullback. If my analysis does play out and i see some sort of rejection of the 1.24500 or a candlestick reversal pattern
on the lower timeframes in that zone THEN i will execute this idea, if not wait, because price is currently at a potential consolidation/reversal zone in the past, so never take my analysis for granted, markets are dynamic and they
move wherever they want, i dont move the markets, smart money does. Current dollar weakness, us economy bad news, gold price rallying up and trump threathning north korea with china gives me reasons to believe this pair will definitely
come up, you'll just have to wait for confirmation, dont trade out of fear of missing the move, markets wont go anywhere
