Price reached just shy of the 1.618 extension and is back below resistance. Am watching for potential dollar strength to provide an opportunity to short.
I'm watching for a retest of the current high before possible yen strength as political events heat up in the US during coming the week.
Price briefly pierced the upper sloping trend line but ended the week well below it. Am watching for price to potentially test the lower sloping trend line around the .618 retracement level before heading up again.
Price was rejected at 1.1300 and is well below resistance around 1.1275. Am watching for potential continuation short to retest support around 1.0850.
Looking at the weekly chart we see price has been moving sideways in a range for several weeks. It tested and was rejected at the .5 retracement level of the last down move and is again below resistance around 84.60. A bearish candle on the daily suggests price may continue back down towards support around 81.80.
Price broke resistance to hit the .618 retracement level. Am now watching for a clear rejection from this level to short again.
The spinning top candle shows current indecision as the market absorbs the recent election results. But considering the outcome was a hung parliament, considered the 'worst possible outcome', price has so far reacted quite tamely. For the past seven weeks price has closed above the long term weekly lower sloping trendline, so I anticipate a continued move up,...
Price has hit the .618 extension of last up move. Indicators are flattening out and an indecisive candle suggest the potential for a retracement.
Price briefly broke above the long term upper sloping trend line but closed the week below it. A bearish candle and RSI suggest a potential continuation down. am watching for a possible test of support around 1235.
Price has bounced off the lower monthly trend line and is currently on support. MACD heading up. I am watching to see whether this level holds for a potential continuation up or makes a break below to retest the lower trend line.
Price has been rejected at the upper sloping trend line. Am looking for movement towards the bottom of the channel, with a potential to close the gap just below the .618 retracement level.
Price has been rejected by resistance just below the .618 retracement level of the last down move. Indicators suggest a potential continuation down towards the next level of support.
Am watching for price to either drop from the current level or to test the sloping trend line slightly higher up before potentially retracing.
Price has bounced off the .618 retracement level of the last up move. I anticipate a continuation up to test the sloping trend line at at .382 level.
With strong AUD today we may see this pair also push up to test the sloping trend line.
Am watching for a potential break of the trend line above; alternatively a break of trend line within current channel to potentially retest support around 1.0700.
Price broke out of downward sloping channel and reached the 1.618 level. Watching for a potential retracement.