For those who are being quick to short the dollar, id re-evaluate because price is respecting support & the inverse head on shoulders is still in play. If we get a break of support the right shoulder will then become invalid & my bias on the dollar will be bearish for some time. But for now I'm still bullish on the dollar...
Watch for breakout of downtrend line & retest. Price currently between support & resistance, & will need to breakout either way. If we break to the upside this pair will have some room to push up reaching its daily channel.
Price opened up below the daily uptrend line, now waiting for a close below support & potential retest to go short. Should be a good opportunity this week potentially, this pair has been playing a bit..
Price came out perfectly, 4 hour uptrend line broke last week then price came up to retest broken trend line. Looks ready to go short now as price is testing the 61.8 fibonacci level now. If we can get a close below I will be taking this short..
Watch for breakout & close below 1.6800 zone (H&S neckline). This pair rejected its weekly downtrend line that has held since 2015, I believe this pair has a lot of room to the downside. GBP news this week, I will look to go short during that time. Nice opportunity here for a long term short potential will be watching closely!
Price broke its daily uptrend line, came back to retest & rejected the 50 MA pushing price back to the downside. Will go to the 4 hour or 1 hour chart to look for potential entries.. Target will be near the weekly trend line, and I will watch price from there..
Price broke through support with a huge bearish engulfing candle now sitting above wedge trend line, I am expecting a slight pullback to broken support turning resistance then a break though wedge & retest to get some more downside to this pair. Will watch throughout the week how it plays out..
Price now near support & its 4 hour uptrend line, expecting a bounce to the upside, however if we get a break & retest of this uptrend line plus support turning resistance, price could drop 100 pips. Overall we are in an uptrend & this support level price is near is a very strong weekly level that will need a lot to break through.
Watching price to see if we can get a short pulling back to the 61.8 fib or a 3rd touch to the downtrend line. Lets see if we can get some strength for the dollar next week as price is currently sitting above support on DXY..
Price still respecting its downtrend. Price came & rejected at the 61.8 fib level, then head back to the downside. On the 4 hour we see a break & retest of broken trend line taking place. Tomorrow there is big US dollar news that will determine if we will regain some strength or continue bearish through next week. Something to be mindful of for sure.. We may be ...
Missed my long opportunity last night on this pair, but another potential chance to enter presents itself here. Waiting for a break of the counter trend line & retest to the 50 fib to go long.. Might be a go once the London session takes place!
Waiting for a break & retest to downtrend line, will be looking to potentially enter at that point. A close above 0.78360 preferred for extra confirmation. This setup could come into play before the end of the week of next week no doubt. Daily Uptrend being respected still..
Trade safe! :)
Change of perspective on this one, price broke its daily downtrend line/ resistance (112.300), now turning support. I expect price to consolidate above this broken trend line until news tomorrow as well, this one also will require some patience. Yen has been very weak this week overall, not having much followthrough causing a break of resistance. Will be on the ...
Price broke out of its downtrend channel to the upside, now waiting for a retest of broken trend line & touch at the 38.2 fib (Where I will set my entry) to go long. Price currently testing a supply zone, hopefully we can get a push down about 30 pips to my entry & my stop would be under the 200 ema. If we do not get a retrace I will not take this trade..
Trade ...
