USD is gaining strength lastly with different fx pairs.Crude Oil is interested as well.
-CLEAN BREAKOUT FROM THE 1H DOWNTREND TL -RSI DIVERGENCE -MY TARGETS ARE BASED ON OTHER RESISTANCES SUCH AS BIGGER TIME FRAME TREND LINES (4H) -WHEN PRICE CLOSE ABOVE THE EXTERNAL DOWNTREND LINE IT COULD REACH THE LAST HIGH AND MAYBE MAKE A NEW HH (WE ARE IN WEEKLY PENNANT MADE BY HIGHER LOWS AND LOWER HIGHS).
Remember to wisely manage your trades.
Things can change rapidly in the market, I posted two days ago a long setup for EURGBP (see the link below). Now EURGBP daily candle's closed perfectly with a line chart uptrend line. After the daily close, this retest (?) has been broken in 2h chart, this also triggered my short trade. I moved to breakeven my long with EURGBP. Good luck to everyone!
I'm already short with this pair but this setup seems good for a new short.
USDJPY IS IN STRONG DOWNTREND FOR MONTHS NOW. WE JUST HAD A BREAKOUT FROM AN UP-TRENDLINE WHICH IS NOW BEEN RETESTED. A NICE HEAD AND SHOULDER PATTERN IS ALSO FORMING TOGETHER WITH THE BREAKOUT & RETEST FORMATION. PLUS, AN ABCD PATTERN IS FORMING. I WOULD WAIT A LITTLE MORE UPSIDE MOVEMENT TO RETEST THE PREVIOUS HIGH (LEFT SHOULDER) AND THE 0.382 EXT....
USDJPY IS IN A STRONG DOWNTREND FOR MONTHS. PRICE BREAKOUT FROM A DAILY TREND LINE AND RETESTED IT. A BREAK AND CLOSE BELOW THE CTL IN 4H TIME FRAME WILL LEAD PRICE TO RETOUCH LAST LOW (ALSO 0.618 FIB EXTENSION). GOOD LUCK!