Two pin bars indicate near term bearish pressures likely. A retest of the support zone 1.2350-1.2300 is possible, but will look for the bullish wave to resume from there. Targets at 1.2650 and 1.2820. Stop could be placed below 1.2160.
The pair made a significant bullish breakout above different resistance levels. 181.00 resistance level and the descending resistance and 50 day simple moving average. We might get a downside pullback before heading higher again.
The index has broken the 50-days average and the rising support for the ascending triangle formation shown on chart. I think we will get a retest of 5740/50 support area. Also negative divergence on stochastic.
Been sometime since i last published, i am back with this eurusd coming trade. I am looking to short near the middle of the range around 1.0680, with targets at 1.0600 and 1.0500. Alternatively i will close short and look to long on breakout back above 1.0720.
I think the bearish wave still has some room to go, for a retest of the broken neckline for the inverse head and shoulders pattern, which is also near the 50 percent retracement for the bullish wave. I will long neat that area.
Looks ready to resume bullish bounce as price consolidates in a pennant pattern after completing an inverse head and shoulders. I think we will probably retest the main descending resistance for the major bearish trend which is near 94.50 swing high
Consolidating below the 50 days average, it looks like we are heading to retest the support of main consolidation near 116. Watch for a break below or above trend line of this consolidation might signal the next direction towards the outlined targets.