GU and GJ have been rising nicely this week and I see the 1.27 area of GU being a key area of interest to look for a potential short.
Resistance @ 1.27:
- 618 Fib level of 13 Dec 19 high to 20 Mar 20 low
- 786 Fib level of 10 Jun 20 high to 30 Jun 20 low
- Gann Line crosses through
- Cypher completion zone
- Green trendline support retest
COT data currently...
Potential head and shoulders pattern forming along with a potential short term cypher.
Predicted movement shown on chart.
Observe to see what happens in the 0.895 area to see if it completes a cypher with 0.5 fib level TP1.
If price rejects this level it could also be completing the right shoulder of a head and shoulder pattern.
I would look for a short...
Recent rally from EURUSD has now placed it in an interesting area after breaking out from symmetrical triangle.
It is at the upper trendline of a long term downward channel that has been respected 3+ times.
Could this be a zone of a potential long term short swing trade or getting ready to break the trend?
COT data on the chart is Leveraged accounts which shows...
There's potential of a trend turnaround due to an inverse head and shoulders pattern forming along with finding support on the dynamic 618 fib level and the 50 EMA.
Price has now broken above the 200 EMA and is currently at an area of resistance. This could create a retracement back to the 618 fib level (white line) and continue in a bullish momentum. Failing...