Bulls fighting to keep price to the upside, watching for a break of channel top (CTL) for longs to recent highs.. & potentially a higher high. Price sitting on a daily key level needs to break before considering any direction, Euro CPI numbers shortly could push this pair up to where it needs to go
Nice setup in the making will be keeping this on the watchlist.. Waiting for a bit further of a retrace (lower high) to continue another leg lower. 3rd touch to the trendline is usually the one that brings the strongest move! Patience....
Price broke its daily uptrend line but seems to be needing a retest still, price also quickly bounced off daily support back to the upside. I will be watching price at the CTL for either a break to the upside or bounce to head back lower. Confirmation is key!
CTL broken, retracement to the 50 fib level for a retest to broken trend line is possible, however the 38.2 region seems like a strong area price is failing to close below. Looking to take this setup next week :)
GJ Fell nicely this week I took it at the top of its channel, now waiting for price to reach weekly support where I will look for a break below or bounce to the upside. Watch for a bullish engulfing for longs or a break of the CTL, price now may build up enough momentum to break out of its sideways channel its been moving in for some time now heading to its next...
Such mixed signals on this pair right now it is very irritating lol.. More confirmation needed to take this pair i will keep a tough eye on this pair for a better sense of direction. Whats your view?! :)
- Monthly M.A. up
- Weekly M.A. up
- Daily M.A. down
H4 : Looking for a break and retest of the C.T.L. Expecting price to fall down to Monthly level of support at 1.1450.
Invalid if price breaks above 1.1693.
- Monthly M.A. down
- Weekly M.A. down but moving closer together
- Daily M.A. up
Wait for price to bounce from one of the Ascending Trend lines. 61.8% FIB zone preferred.
This play comes in alignment with the Dollar Index.
Only enter this trade from a break of the C.T.L and retest of one of the FIB levels or C.T.L.
*This trade will be invalid if price falls...
Potential scenario here we could get a potential shorting opportunity here on the 3rd touch on the CTL. Double top to daily resistance & Daily uptrend line break & retest is showing a bearish outlook to this pair.. Keep in mind 132.000 area is a very strong support zone