The pair break the bearish trendline and it is now heading towards another pair. It is a strong resistance area. A breakout of them would mean a retest for the black trendline above them.
The price is moving up again after a downtrend. My Trading plan is shown in the chart.
The pair is in uptrend in short term. I suggest long positios at 1.09590
Fibanacci retracement level are quite important for this pair. Would they move the pair lower or we would have a retest of the blue trenline?
The prce seems to start a retracement. Once it gains power the 76.4% fib level is my target
The price made a higher low and managed to keep on the trendline. It is heading towards the area of 1.1121/1.1093 which is a very important level of resistance. At this area there is also the longterm trendline. So it seems a good level for initiating short positions. A good target level is at 1.0815
The price is in downtrend after multiple tries to go over the area of 1.5673/1.5689. He also have the first breakout of the blue trendline. My target is shown in the chart. I believe the pressure from sellers is strong enough to push the price at that level.
The pair is in uptrend. It has now started a retracement move. 50% fib level plus the support level is a good area for placing long positions. We should target at first the previous High.
The pair reverse from a long downtrend. In order to be able to ensure that we need a breakout of the area 1.0922/1.0928. RSI also provide the reversal point. Let's see if it is a reversal or just a correction move.
As far as this analysis is written, there is a reversal candle pattern. Of course we have to wait for the full candle but if it continues like this a move downwards to 1.0818 is possible. Pay attention on the candles and on the orange trendline.
Attention should be paid on long tails. They reveal strong buyers area. We might see a reversal here. On my previous analysis i support short positions but we should be patient.
My target at 1.0890 as described in my previous analysis was reached. It is clear that sellers want the level of 1.0814 which is the lowest level from 21-7-2015
The price is moving in a range. Bulls manage to keep the price above the trendline and bearsbelow the resistance at 1.5675. The formation shows bulls win but the number of tries to go over this level show that buyers might start to loosing their power so a breakout of the trendline and a retest of the blue trendline is possible. Anyway, a breakout is wanted always...
The price is now shapping a tringle. Due to strong resistance area i believe the price would follow the way shown ain the chart. I am waiting your comments.
The price is bouncing above the suport area. A breakout of this level would mean a strong downtrend. It is possible for bears to search for lower levels. We should just wait the reaction at the level of support.
The reversal candlestick pattern was strong enough. We had discuss the possibility to have a trendline retest if the yellow area was broken. That was exactly what happened. Now we have to wait the retracement of the price for further trades. Fibonacci levels are quite important. Let's see.
After a strong downtrend the pair stopped at the level of 1.0891. The level of 1.0968 is the most important in my opinion. It would either push the price lower to the bears target, which is the 1.0815, or it would lead the price to test the blue trendline again, if we have a bullish breakout
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