Looking at EU in more detail:
Weekly: a downtrend is still evident, as the weekly descending trendline (pink) has not been broken by this pair. Additionally, a bigger descending trend indicated by the monthly trendline (black) still stands. Thus, it is safer to look for possible short entries on this pair.
EURUSD is on a Bearish Channel and to make this trading opportunity even better, it is a trend trading opportunity.
On the 4-Hourly Chart, it does shows a double top setup, I'm waiting for the market break and close out of the sell zone, retrace back into the sell zone for a shorting opportunity(red arrows is the awaited move)
Theres is a long-term broadening wedge/channel, and we are close to the top. Watch for clear reversal, and this could be a profitable short. Word of caution: GBP pairs are extremely volatile in these weeks, given the BREXIT soap opera. Use wide stoplosses.
EURUSD is currently in a downchannel and it just rejected the lower trendline for the third time with a nice push to the upside. i am awaiting a little corection to the downside to open a long on this trade.
This descending channel meant you could have been buying at every bottom trend line touch with take profits once it hits the top.
Risky moves were selling from the top to the bottom
VERY close to major support structure area. BIG BUY coming up
DON'T miss this - an UNCOMFORTABLE lot size on this move will go a LONG way in proving that patterns are KING!
Sell oportunity for upcoming week
Price reversed into down trend somwhere on 14 Feb , from that moment it keeps falling down , question is do we still have room to go down to previous double bottom before we hit up...
For shorter term SELL we dont need that big move because we forming correction into this descending channel and might have nice SELL Position opened...
GBP/USD is in a descending channel pattern in the 1-hour chart.
On reaching its supportive trendline it bounced off with a strong bullish engulfing candle.
Hence we expect the pair to race towards the resistive trendline.
If you are still bullish on the gold, try not to rush in yet.
We have seen how strong the dollar is and it is clearly oversold too, but bear in mind that the highest was 97.7.
What's interesting to know is that though the dollar has broken a new high yesterday, gold did not.
So that's a good sign for the gold that there's still demand supporting it from falling as...