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???
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.
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
with 24hrs to go before NFP, I will be watching this pair to see how it reacts to the major news. this pair has been slow this week so only price action can tell. keep your eyes open with this pair as the gap still needs to close with approx. 1000 pips to go.
good day traders.
price has pulled back to our 50% fib level after being in a nice rally to the upside since 24 august 2017. if price respects this level of 1.32000 we can see another rally to the upside of about 550 pips (1.37000)