these past weeks E/U has had major news for both countries, hit highs that haven't been hit in years, and lows on DXY that haven't been touched in a while. on our you can see divergence on the chart, and indicator. it shows that it is supposed to be a double top, but RSI said it went down. Also the pattern went exactly to the 50 percent mark on the Fibonacci...
Technical outlook: EURUSD has retraced 0.38% of its rally from 1.1719 to 1.2534. The 0.38 level has held the support successfully on Thursday and Friday during the stock market turmoil. So I think that this level will hold the price and we will see the price rally towards 1.2534 again. we have another support near 0.5 fib level at 1.2127 and then the 2017 high at...
I'm currently short 1.245 1 st target 1.22
I believe last weeks price rejection is a sign that this bullmarket needs a pause .
Bollinger cap on weekly and monthly suggests strong reversal
starting to see patterns of weakness
and distribution..... in general we have inched higher
but put in a higher high last week(2538)....and have failed to
retest....with a large rejection bar after rate decision....
as well as tried to retest the 25000 level and failed on friday
which leads me to
believe the setup for the pullback is in.
we see strength at...
Euro Dollar has been floating around this 1.24 level for a few days now. It has recently imprinted an inverted head and shoulders pattern with fib confluence. I expect the bullish trend to continue through the end of this week. First Target is 1.55, then extended targets are at 1.69. S/L @ 1.23, will be moved to break even when first target is achieved.
