Eddied01

Eddied01

I am taking the wait and see approach at this stage. Technically is looks like a short but there might be more upside if I look at the shorter time frames. I will trade the break that occurs first but i am favouring a short at this stage especially if the price action is weak at 1.13 should it reach the level

Eddied01

The first breakout have been re-tested 3 times. The consolidation and the bigger triangle should be close to completion with a break either way. I favour the upside as long as the low holds

Eddied01

The comments on the chart should be clear enough. I am targeting a close below prior week. Waiting to see if there is a pullback from current levels to add shorts

Eddied01

Should the UK GDP numbers not disappoint tomorrow we could see a close below last week. A close below prior week and I will target 0.883 as potential goal over the next few weeks

Eddied01 Updated 

I will be looking for a bull flag or another form of bullish setup to go long again

Eddied01 Updated 

1.24 - 1.14 should be reach over the longer term

Eddied01

The downtrend should continue soon with the first target at 1.285. For the longer term view see my daily chart with targets around 1.12 - 1.14

Eddied01

See comments on the graph. At this stage the bears are still in control and any structure or exhaustion candles resembling a bearishs tone will be signs to short.

Eddied01

It would be a bullish sign if the pair could break above 1.126. A break below current low could lead to 108 - range could be 106.5 - 108.144

Eddied01

The dollar bulls are still well in control. We could see a retrace to 100.48 which is at the 0.786 retracement level of the previous high at 103.82. An daily exhaustion candle at 100.75 could be a great signal that the bull run is done This will also be closer to the longer term downward trendline A break below 96.5 invalidates the uptrend

Eddied01

I will be looking for a bear flag or bearish setup to short further towards 105

Eddied01

A longer term short will come into play as per the chart short term - Long above R14.09, break below invalidates Break above R15.17 could lead to R16.07 to R16.4

Eddied01

We should see a relieve rally from here. A break below 1.21 could lead to 1.16 A move above 1.265 could lead to a bullish run

Eddied01

Will the long-term trendline remain in tact? Probability should be very good that a short should work from these levls

Eddied01

The counter trend trade should extend to R14.4 - R14.59 before the pair heads back down

Eddied01

Short below 1.325. A break above invalidates

Eddied01

Short and then a potential bullish run

Eddied01

Cable is still weak and 1.225 is most probable at this stage Only a break above 1.266 can be seen as bullish