The volume spike that occurred friday is a strong bearish signal in my opinion. I will open a short position if the price breaks through the 46.60 level. There will be a potential support level at 44.45 but I think we will see a retracement to the 0.618 fib level around 43.
We have now broken the short term triangel after a bearish friday. I will enter a short position just below friday close. I think we the next weeks will see a big decline and will test the long term triangel around 0.740.
SL: 0.76032, a bit over the support level at 0.7597
After a strong rejection at 0,8561 I expects that the sellers will overpower the buyers. The next big test is the level at 0.8492. If this breaks I think we will test the next big level at 0.8350 within a couple of days.
SL: 0.8542, a high SL because we still could test the downtrend channel a long the way.
If we brake the support level at 1310 I think the price should test the level around 1260. The week level around 1295-1300 have my attention but I think the buyers first will pick it up around 1260.
Entry: 1308, a bit under the strong support.
TP: 1260, close to the strong support level
SL: 1325, 3xATR and a bit over the week level at 1318.
The price have today broken the short term downtrend. It will soon test the day level at 10640-10650 if this breaks i'm interested in going long.
TP: 10855, old support level.
The strong uptrend since mid-june are now being tested. If the price gonna be rejected I'm interested in a long position as we may gonna test the strong support at 7090.
Entry: 6895, at bit over the strong weekly support level at 6870.
TP: 7090, strong weekly support level
SL: 6805, closing under the uptrend channel will turn on the red lights
The price have bounced of our uptrend channel. If it breaks the day level at 1.1323 there is a big possibilty we will se a pullback as we saw a couple of weeks ago.
After getting the second rejection at the 46.7 level I think we will se a correction the next couple of days. Entry at 45.78 or a close under the support level at 46. TP set to 43.37 which is close to the daily support level at 43. SL set to 46.81 which give us a R=2.3.