Price broke the long term ascending daily trendline and has retested the it as well as the 50ema & 61.8 fib.
Currently price is sitting at support/demand zone so a pullback to 1.53137 (23.6 fib) may provide the opportunity to short.
However, a lower low is likely to be made, therefore shorts will be considered ...
Re-test of triangle structure
Hitting prior support, now resistance
Retracement to 61.8% fib
Big wick on previous h4 candle
T1: -27% fib ~ @117.400
Potentially good risk:reward
Stops will be relatively tight BECAUSE, @120.350 to ~120.700 there are stop losses of short trades from those shorting ...
Will be looking for a bounce or break at the third touch of the ascending trendline @1.2800.
This area is confluent with prior support & resistance.
Falls upon the 50% fib level as well as the 200MA.
Will prefer a long move in order to trade with the trend.
Target will be to create a new higher high if there is a ...
This pair has been in an up-trend establishing higher high and higher lows.
Current pull-back may be exhausted, with another bullish leg expected.
Long move may be placed depending on price action.
Possible target 1: 1.3300
Other information on chart...
This pair has been consolidating in a ~200 pip range since mid July. Both monthly and weekly price action shows there is no real bullish or bearish momentum.
As can be seen, the range is formulated by the 61.8 and 38.2 fib levels, with the 61.8 acting as support and 38.2 as strong resistance. On the daily ...
Price has failed to break through resistance of the upper boundary of the bearish channel/flag structure.
The second touch of this upper boundary which was seen in December 2014, and price action of this candlestick was very bearish ...
Cable has been in a upward rally since my last post on this pair, as I did at the time show why that might occur.
After creating a higher high for the pair, I am expecting to see a new higher low. This low is where I would look for possible LONG moves if price action does in fact establish it as a new higher low. ...
Monthly: Price is currently at a level of previous Resistance, which may act as support. It is KEY ZONE, because either a break or bounce may occur.
Price crossed below the 200MA indicating bearish bias
Weekly: since mid 2009 lower lows and lower highs formed. However since march pair in a bit ...
Looking at the monthly timeframe, price is currently at a historical resistance/support zone. In 2004 this level was acting as support, and once broken, was retested as resistance in 2005 and 2009.
DAILY- This pair was stuck in a range for approximately four months since the start of 2015. Price broke through this ...
On the daily timeframe there is a bullish engulfing candle for yesterdays price action.
Since mid- April this pair has been in a bullish uptrend establishing higher highs and higher lows.
Price has already made a higher low, which is the second touch of the bullish trendline at ~1.0820. Therefore it is likely ...