Drew an ugly Cup/Handle in light blue, Nice breakout from the red down trendline. Daily stoch turning back up. And winter is here ;)
Facebook for weeks now has been creating higher highs and higher lows in the strong uptrend. Being bullish on this stock we would look to get in with the bulls. Lets look at the daily time frame. Here we see a beautiful head and shoulders formation. Once it hits the neckline Price would reach around $98. Adding confluence there is also a bullish cypher...
bullish.still long...
We will wait for a little pullback to the 1.40 level and buy from there. This pair is ALL BULLS.
After breakout of monthly high this pair consolidating first time so short term downside momentum possible at least to test broken monthly high. If that one fails next stronger support can be see at daily trend line 2015/09/29 low and 201510/30 low. Setup invalidates if recent consolidation will be broken.