The Euro is back under major resistance...was this a fake break out? We are watching closely and looking for opportunities to the short side. if the bulls rally and take out the most recent highs then the squeeze will be on and Euro bears will be jumping off the ship. We want to see a test of the major resistance and sellers to step in. NO TRIGGER, NO TRADE!
If you have drawn a channel as seen above in the EURJPY, you can see that the pair has came back down to retest the bottom trend line of the channel. It formed a bullish low test, signaling an upwards continuation. Other confluences that can be seen in the currency pair are the .382 retracement level, the 138.0 support and resistance level and the recent golden...
Taking inspiration from one of my followers who messaged me this weekend, I wanted to try something different here on Tradingview and concentrate on a single pair this week instead of randomly posting charts when I have the time. (Let me know what you think of this idea by the way). This week I wanted focus on the GBPUSD as there are a few potential trading...
Today the pair created a large bearish pin rejecting a key level of resistance. There is some "air" below which allows price to correct after the recent bullish momentum. Looking to short at the break of the pin and target target the 1.01 area.
The J6 has returned to the scene of the crime and has kissed it good bye. A breach of the 8388 are and we will goto a lower time frame to look for a trigger. This will support higher equity prices.
The break is clean so we are looking for a small pull back on a lower time frame to get short. We will be up early to watch European session. Stay tuned!