Jacques_2803

Jacques_2803

Waiting for price to reach my level of weekly resistance. I will use this level looking for a sell pattern to emerge...but for now lets wait.

Jacques_2803

My over all prediction for this pair is bearish due to the strong resistance at level 158.000 on my daily TF. However, on my 1H TF we have a inverted HS pattern forming where my TP level could be a zone for price reversal to the downside.

Jacques_2803

The Dollar has been in an uptrend for about 8 months breaking last years high.

Jacques_2803

price closed with a big bull pin bar on friday indicating that buyers were in control that day. We can also see price is in a downward channel so i will only consider a position when price reaches the upper channel line. Break or bounce???

Jacques_2803

with a strong week for this pair, i dont see any signs of slowing down. we broke through our weekly descending trend line. i see price reaching 114.00 region which is my weekly resistance.

Jacques_2803

with NFP bringing out negative numbers. i will only consider shorts if this pair broke through my TL with a target of 108.500.

Jacques_2803

our overall trend on this pair is short. after about 11 weeks of dropping we can see on the daily TF price is in a pullback phase. I will be looking at areas of 1.3500 to go short.

Jacques_2803

On weekly price is in a uptrend making HH and HL. Price also broke through our ascending TL. We also had a strong close below 200 ema indicating a lot of sellers in the market. We also have a MA crossover. Price can go down to 140.00

Jacques_2803

ill be looking at 3 areas where price might go short. 1. 1.4500 which lines up with my 50% fib retracement level. 2. 1.5000 which also lines up with my 61.8% fib retracement level. 3. long term descending trend line. I have also indicated with the arrows the important levels/reversal level.

Jacques_2803

with the markets opening, leaving a huge gap in the market, my bias with the us dollar is still short. price might retrace back to 91.5/92 before making L/L and reaching weekly support of 88.7

Jacques_2803

what are your thoughts on the current state of the dollar.

Jacques_2803

with our ascending trend line and multiple rejections at the 4327.00 level price found good support and its going long

Jacques_2803

after multiple touches on the descending trend line price offered a bearish pin bar. I will be holding this trade for 5 days regardless if target is hit

Jacques_2803

might the USD weaken even more? price is currently at our weekly resistance (94.00). price has also met our descending trend line and closing with a bearish pin bar and closing below 94.00. My next target will be monthly support 88.55 region.

Jacques_2803

with price approaching our monthly resistance (testing it as support) and our 50% fib retracement we will have to see what P.A. tells us after NFP today.

Jacques_2803

The pound has dropped a lot this week with any pair. I will be monitoring this pair after NFP today.

Jacques_2803

price has fallen over 500 pips in the last 12 days, shows a weak uk economy. we will have to see with P.A. at our 50% fib retracement and 147.000 price level. price has broken through our strong resistance level and price is now retesting that level. we will see what happens after NFP today

Jacques_2803

I will be monitoring this pair after NFP today. I will be waiting for price to touch our ascending trend line or the psychological level of 1.3000 my bias is still long