Possible break out to the upside after monthly retracement. Targets are fibs and single prints.
I have been monitoring this pair for a while... It failed to break out in July but now it should b good!
Lookin similar to last year set up, probably too easy. Just for thoughts.
Break out following consolidation since May
Possible continuation to the downside but risky as majors news events are coming.
Possible continuation of the down move after consoldiation
One more possible move down to the 618 following a smaller time frame 2618 setup.
Could be a forming head And shoulders after reaching a weekly 618 support and failing hard.
The recent rally in the AUD due to the underperformance of the US Dollar and rising commodity prices could correct. The fake brakeout in April also hit Weekly resistance which could lead down.
Down USD/CHF, Up EUR/USD
Could not hold the last 2 intraday rallies
Consolidation before a possible break up!
Possible retracement to 1.6
Solid breakout and retracement at an interesting level. The first two targets are a possibility before summer.
Failed to break out in December. The second time could be the one. There was already a strong break on the 4h chart, now waiting for the daily.
Looking for the next move up
If downtrend remains, next try at 29.5
Small risk to reward ahead of the ECB meeting which I believe will dissapoint again, If it fails to break due to the meeting, it could continue lower.