Monthly
Huge bullish candle last month - this month we've pulled back after rejection 1.3500 due to some news released. Ultimately however, I feel this pair will continue to strengthen as it has done since the brexit dump. EMAs are also covering closer together.
Weekly
Last week we saw rejections pushing us down towards our EMAs are dynamic areas of support. This week we have recovered and today could end up closing the week out as a bullish engulfing candle.
Daily
Yesterday we saw a hammer candlestick with a long lower wick - signifying buying pressure. We also have seen a shooting star the previous day which shows some indecision. The EMAs are however holding strong and if we can see a good daily close today, momentum could potentially reverse to the upside. The daily area of 1.3360 also seems to be holding well.
H4
The price action on the H4 TF seems to be covering but ultimately, we can see that lower highs have been occurring. As well as this, we have broken the CTL and had an EMA crossover to the upside.
Huge bullish candle last month - this month we've pulled back after rejection 1.3500 due to some news released. Ultimately however, I feel this pair will continue to strengthen as it has done since the brexit dump. EMAs are also covering closer together.
Weekly
Last week we saw rejections pushing us down towards our EMAs are dynamic areas of support. This week we have recovered and today could end up closing the week out as a bullish engulfing candle.
Daily
Yesterday we saw a hammer candlestick with a long lower wick - signifying buying pressure. We also have seen a shooting star the previous day which shows some indecision. The EMAs are however holding strong and if we can see a good daily close today, momentum could potentially reverse to the upside. The daily area of 1.3360 also seems to be holding well.
H4
The price action on the H4 TF seems to be covering but ultimately, we can see that lower highs have been occurring. As well as this, we have broken the CTL and had an EMA crossover to the upside.
Trade closed: target reached