W/ the Monthly candle closing bearish engulfing suggests we can anticipate a retracement of the rally the Euro has seen against the dollar
On the Daily TF we can see the formation of a Head and Shoulders pattern beginning to form the right shoulder
On the 8H TF we can see price has almost formed a Bullish bat as it gets closer to 88.6 Fib level
Will be...
We have seen price exhaustion at 1.2
Possible pullback on higher TF
Head and Shoulders formation
Entries at 1.95 retest
Closes gap
Target 1 @ 1.1775
Target 2 @ 1.7
Gold has been on a strong bullish run for the past few weeks with a weakening usd. Price has almost hit the 2016 highs but has started to slow momentum on Friday after striking a resistance level around 1256.
I will be using the ascending trend line and the two major zones to determine if the trend will continue for now or maybe we start to see USD retracement...