Al eyes on Fed! Let's see how we close today, but according to my technical analysis, we're in a strong selling zone and I'm expecting the dollar to fall post the fed announcement. We also saw an unwillingness of bullish momentum as the previous days candle stick showed exhaustion, is the reversal imminent? Let's wait and see!
I got the classic Thursday reversal I was looking for last week and this week I expect to see nothing but more movement to the upside from Eur/Usd.
1. As long as the 1.12724 level holds and isn't broken, my bias is bullish on Euro and I will look to enter on a smaller timeframe and hold until we reach the target of 1.15000.
2. Another confirmation was the B0S=...
Gold was my star performer last week and seems to be on par to don=ing it again this week.
I'm very bullish on Gold because of the way it reacted at my anticipated buying zone last week, it bounced off strongly from the level I highlighted with the arrow and went to break market structure.
I'm anticipating momentum to the upside right from the open but we could...
Break,Retest,Continue..
It's at an overbought area on the stochastics and the chart(check the zones)
I see it going down also because the dollar index is getting stronger.
A whole lot that's going on but that's it for tonight.
Pretty easy analysis,structure has been broken from downtrend to uptrend, found a nice retracement @ 61.8 (Golden Pullback), It created a swing low then a higher low further validating that we're now in a solid uptrend so I'm long on this pair until structure is broken. My first tp is @ 113.400 and my second tp is @ 114.080.
A lot more confluences to this but...
I'm looking to go long when the market opens. Reasons :
1) It's in a 1hour demand zone (look left)
2)oversold area (plot stochastics on chart)
3) it's at the support price at 1.16050
SL @ 1.15730
TP @ 1.16050
RISK REWARD - 1:2
SL @ 30 PIPS
TP @ 60 PIPS
Fib Region between key levels of 61.8 and 78.6
Enjoy guys :)
Find me on IG @ Theo_Forex
