Will be monitoring Price Action in the early part of the week for a potential Long trade
Weekly candle close was Bullish and has been for the previous few weeks
Weekly break of trend line as well as also breaking above a key level of resistance with a major bullish candle which could represent a long-term shift in price momentum
Daily chart shows a recent MA crossover to the upside
Daily also reaffirms the break of trend line and key level as well as showing a retest - resistance come support?
Daily Fib in action with retracement to support at 50% and has since pushed on to the 0% level
Next key level on Daily is between the Fib 0& and -27%
Long-term Daily uptrend line has also been respected
4 Hour CTL break and retest can be seen in action
Fibonacci has retraced to the 38% level of support before re-commencing the bullish move
Target 1 is 1.6000 which is in between the -27% and -61% of the 4 Hour Fib
Major Fundamental News of the week ahead:
- USD - Existing Home Sales - Mon 15:00GMT
- USD - Core Durable Goods Orders (MoM) - Tue 13:30GMT
- USD - New Home Sales - Tue 15:00GMT
- USD - GDP (QoQ) - Wed 13:30GMT
- GBP - BoE Gov Carney Speaks - Fri 16:15GMT
Weekly candle close was Bullish and has been for the previous few weeks
Weekly break of trend line as well as also breaking above a key level of resistance with a major bullish candle which could represent a long-term shift in price momentum
Daily chart shows a recent MA crossover to the upside
Daily also reaffirms the break of trend line and key level as well as showing a retest - resistance come support?
Daily Fib in action with retracement to support at 50% and has since pushed on to the 0% level
Next key level on Daily is between the Fib 0& and -27%
Long-term Daily uptrend line has also been respected
4 Hour CTL break and retest can be seen in action
Fibonacci has retraced to the 38% level of support before re-commencing the bullish move
Target 1 is 1.6000 which is in between the -27% and -61% of the 4 Hour Fib
Major Fundamental News of the week ahead:
- USD - Existing Home Sales - Mon 15:00GMT
- USD - Core Durable Goods Orders (MoM) - Tue 13:30GMT
- USD - New Home Sales - Tue 15:00GMT
- USD - GDP (QoQ) - Wed 13:30GMT
- GBP - BoE Gov Carney Speaks - Fri 16:15GMT