The price has broken a daily resistance @ 0.9045 area and is retesting it. I expect that after the retest is over, the price will resume and will reach the next daily resistance @ 0.918 area. What are your thoughts?
Hello traders! We are looking at a possible short opportunity here as we see a bearish move that broke below a zone which is not illustrated on the chart. My apologies, however, the trendline was retested and we see a bearish candle that violated a zone. We could see a continuation following this retest. Look for confirmations for trading opportunities. There are...
I see the USD fundamentally weaker than the EURO. With a larger timeframe bias in mind, we saw the previous day break the high of a Bearish day. I would expect this day to do the same with a retracement to test a broken zone around 1.1480-1.14978 of previous resistance. My fib was drawn from the most significant movement. Targets for my long position would be...
Following the break of a major support level, we can expect a pull back to this region and for it to act as resistance. Waiting for the right price action signals at this level in order to take any short position.
GBPUSD broke a very key level last Friday. As expected, price has now corrected and returned back to the broken resistance. It should now retest as support, and continue higher. I will be waiting for a confirmation before entering long.
This appears to be a good time to short EURUSD for the long-term based on the daily and weekly charts.
There are 3 key areas of resistance that EURUSD has failed to hold above and/or penetrate.
* Fib 0
* GANN 4/1
All of these are within the 1.126 and 1.13 area. Stochastics are also in overbought territory...
I analyzed this early weds or thurs last week. I was quite excited but as you can see my pattern was not met. I am still watching this pair and I have a 1% trade in going short with it. Hopefully this week we get some better clarity. I don't have the points set exact because I was not going to share this chart but the ratios did work