Price reached a resistance level. Testing multiple times. We bounced off the 4hour EMA. Where buy orders were placed on the a mini support. We can expect some bearish momentum to complete our daily EMA, before we look for any buy entries to continue our bullish uptrend. If we do break the support level. Price will continue to see new lows. Entries will only be...
Bullish trend. Price stop at a full level 8100. Making it the new resistance level. After that bullish push we see some exhaustion now to find a new Support. We can expect price to move back to around 8000 to get more buyers.
After a long consolidation period floating between these key levels. Price did manage to breakout to the downside giving us a better bias for where this pair is going next. Price already retested the 1.88000 level. Making it our new resistance level. Next target off support will be 1.86000
GOLD spiked through our consolidation range. All USD pairs is on the move and waited for a direction. Gold is still very bullish. We can expect a target resistance level of $1600 before we will see any type of exhaustion on gold. Waiting for this retest on the new support as price is respecting the breakout retest movements.
After a few days of consolidation. we have found a support that will push price back up to our new resistance. Finding sell orders to continue our downtrend spiral and follow our perfect price action pattern.
Two options for this pair. Either a break through the support to continue bearish. or we can see a bounce on the current support level to continue to our resistance level where we will form our 3rd LH and trend further down. Price is still under the EMA and is also a nice confirmation that we are still bearish.