Weekly - Broke 147.50 level (strong resistance) and made new higher high.
Retested previous resistance turned support.
Daily - Rejection of 38.2% Fibonacci level which lines up with 147.50 resistance on weekly time frame.
Price formed a decending wedge which broke to the upside and enticed breakout traders to go long. Those who are already holding short will have here stop above the previous lower high where traders will also have buy stops, these will be triggered during the news release. Price will then drive down and take out the stops of the breakout traders and those who had...
Daily time frame shows possible retracement to support (previous resistance) at 1.3250.
4 hour chart shows price stalling and consolidating around the 1.36 level.
On 1 hour chart we can see price break and retest the 4 hour consolidation before stalling going into the Asian session.
The 15 minute shows a clear wedge forming going into the Asian session, we can...