Action zone of fib confluence + trend channel :
Considering such a broad economic shutdown and health hazzard Target 2 arround 1400-1500 looks pretty sure to reach.
I also have an argument in my mind that we did not fully recover from the from the Lehman Crisis. Most of the business are in much worst credit shape that in those times. So why cant the...
In concurrence with the D1 chart presented earlier... H1 chart show price on verge of breaking out of falling channel and is now formed a triangle at the breakout zone... forming a confluence.
As mentioned, I wont buy it, but will look for opportunity to sell at 1.1180 zone which is an excellent confluence of Resistance, fibs and BB.
EurUSD is clearly moving within the triangle.. as mentioned and moving towards a breakout up/down from there.
It also diligently follows the fib extensions.
All levels on the chart.
Trade your suitable directions.
For me.. I always look for opportunity to sell.
Ok, what all we have here ....
1. Price at the bottom of the trend
2. Trend line upward break.
3. Inv HnS forming in confluence with the trend line break
4. Plus the confluence of price action and HnS points with the fib extension and trend line
5. 21 ema x 50 ema, and both above 200 ema
6. Retracement has done.
Good Luck. Go Bullish.
Pattern being at bottom of trend can have a bullish bias. Need to wait and see how the breakout happens. A prediction can be done based on price action at the mentioned midpoint of the pattern which is also the 62% fib retracement of the last fall. If make 1-2-3 pattern ... this level also serves as the 100% target from currrent price. So lot of things at stake at...
Structural breakdown of rising trend line and horizontal levels.. as seen the chart.
Double top validation and it gives lower level target as mention in pink zone. There can be two targets as shown.
Caution : keep watch on US-China trade news.. anything positive for China is negative for this setup
I was told in earlier days of forex learning thats... one day or another... Gaps do get filled !
And there is a major gap in EurUSD in 2017 May @ 1.0800 !!
>>>> Thats unimaginable ! What you guys say ??