Currently, there are two areas:
1. Around 0.71000
- The trendline should act as a support
- The round number 0.71000 should act as a support.
- RSI Divergence
Here we need one more criterion - bullish candlestick pattern on the 1h+ timeframe
2. Around 0.70800
- Previously worked support area
- Different Fibonacci levels
- Channel projection
- Cypher pattern, near...
Euro dollar is approaching major structure support.
Rejection candle indicates strong bullish pressure around this area.
Oversold rsi with divergence shows bear exhaustion.
Wait and buy bullish breakout of a falling channel.
Initial target 1.125
The price has again approached the 1.1175 - 1.1185 Support Zone on 1D, which is a Channel Down (RSI = 41.503, MACD = -0.002, Highs/Lows = -0.0025). Since however this Support Zone has rejected any bearish break out twice already since March 7th (on a 1W time frame 1.1215 has been supporting since November 12th), we will consider shorting any further only if this...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.664.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=0.663.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The British pound is under heavy downside pressure against the US dollar, with the pair now trading at its weakest level in over eight weeks. The GBPUSD pair is heavily bearish while trading below the 1.2960 level and is likely to fall towards the 1.2880 level. The four-hour time frame is showing a large head and shoulders pattern, with the GBPUSD pair now trading...
pair is trading in side-move in 1.57 - 1.585 trading range.
Market is very close to trading range structure resistance.
We have a completed harmonic bearish cypher pattern,
pattern completion point matches perfectly with structure.
1.580 - 1.585 is selling zone.
1.576 initial target
1.572 second target