EURGBP is currently in a downward sloping channel and last week the pair bounced off the bottom supporting trend line extremely hard. That candle indicates we could see the bulls come in and take over the pair for this week. I’m expecting this pair to retrace at least to our 61.8 Fibonacci level, which is where we will set our take profit. The risk/reward on this...
EURUSD has officially turned bearish and retraced back to major resistance. Time to short the pair and ride it down to the next major support. Watch for a bounce off our next minor support at 1.2272. If it breaks that, we will head down to our take profit.
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We were bearish on this pair last week. However, due to the last daily candle close above the last lower high, we are bullish on the pair now and looking for a buy. Due to the latest chart structure on the daily, we saw a double bottom form, which is a strong indicator of a reversal. We are going long on this pair up until the 61.8 Fib level. We will take our...
Simple trend analysis. Watch for bounces around the 61.8 and the 78.6 Fibonacci Levels. Take profit on the chart is optimistic, however I am still expecting this pair to drop.
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Right now we are seeing price action consolidate within a pennant inside our upward channel. I am expecting this structure to continue to consolidate and eventually break out upwards to our first take profit at 1.41587. After that, I am looking for bullish signs to hold this pair through the week to test the top of our channel at our second take profit. Our stop...
We saw a fake break out down this week and price action is expected to continue it's uptrend until our take profit. Bouncing off our support levels, I'm expecting this price action to move upwards into our 88.6 fib retracement level. See chart above. TRADE WITH THE TREND!
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