The rate is currently bouncing lower from the two-and-a-half-year long falling trendline resistance just below a major old support/new resistance area.
I am looking to short the pair to target the rising trendline support around 81.70 and possibly the current support base area (80.50-81.20)
The stops should be based above the weekly high above...
The rate has climbed up and is now testing the two-and-a-half-year falling trendline resistance. The current level is also the former broken neckline of a completed head and shoulders pattern back from February.
I will be looking for selling opportunities on shorter time frames, however the stops should be based above the resistance area (81.00) and...
The rate is testing the rising trendline and the rising channel support. The usual low liquidity summer trading strategies prefer continued range trading and even a downside break should be looked at with suspicion.
Potential upside targets - 1.3780; 1.4000
The rate has formed something of a head and shoulders pattern on the 4H chart at the long term massive triangle resistance.
I am looking for break of the two-and-a-half long rising trendline and the pattern's neckline below 1.1160 to enter new short positions.
Such a break should trigger a drop to short term target at 1.1000 with a potential move...
Last week I wrote an article saying I am looking for a short opportunity just before the rate broke to the upside.
It seems though it was a false breakout as it has dropped quite sharply breaking the two-month-long uptrend and is now testing the old resistance/new support area at 1.4885. I will be looking for a move higher now to the former broken rising...
The rate has fallen down to test the exact one-year-long rising trendline support. As long as it is still trading above the support it stands in line with the long term bottoming (inverse head and shoulders) pattern as the rate it still slowly carving out the right shoulder.
Currently the upside is a bit limited because of the falling gap resistance...
After bouncing higher from the 9-month-long rising trendline the rate has stalled a bit at the former support area which should now become new resistance.
I am looking for a strong rejection lower to target another test of the trendline around 84.20.
A break of the resistance area above 85.40 would invalidate my bearish bias for the pair as it would...
The rate has risen to test the symmetrical triangle's resistance which is also an old support/new resistance area.
I have no clear bias at the moment so I will be ready to enter both sides.
For a short position I will be looking for a strong rejection from the resistance like a shooting star or bearish engulfing pattern to target the triangle's...
The rate has dropped down after successfull test to the 3-month-long falling trendline to test the short term rising trendline from February.
The rate has formed 2 hammer candlesticks right at the former inverse head and shoulders neckline indicating further strength and a possible move towards the previous highs at 122.90 and the 100% pattern...
The rate has tested the former broken 4-month long rising trendline as the new resistance and experienced a sharp drop lower.
The test level is also important because of the major resistance zone (yellow rectangle) and the higher parallel of the potential falling channel formation (needs the 3rd infliction point to confirm the upper boundary) (the pink...
The rate is currently testing some interesting former support levels which should now become the new resistance -
Already confirmed polarity change area (the yellow rectangle) 120.20 - 120.55
4-month long broken rising trendline support
The lower parallel of the broken falling channel (black dotted line)
I am looking for a strong rejection...
The rate has finally climbed up to test the massive inverse head and shoulders pattern neckline at 1.0770.
At the moment I expect bears to push the price lower to confirm the neckline resistance, however, I will be looking for an upside break and daily close above to enter a smaller long position and wait for a retest if the old resistance becomes the...
The rate has been stuck in a contracting range for this past month and it seems to be very close to breaking out indicating the direction the next move will be. Because of the rate currently trading in the exact middle of a larger box range I don't have any particular short term bias and will be looking to trade a break on either side.
For a dowside...
The rate has broken the 6-year-long falling trendline resistance and is now climbing higher to test the inverse head and shoulders neckline around 1.1300.
I am looking for an upside break and retest to enter new long positions to potentially target the former major support/new resistance area around 1.2100.
A strong rejection lower from the neckline...
The rate is putting pressure on the 2-year-long falling trendline support. A downside break is essential for the next drop towards the potential large head and shoulders pattern neckline at 0.8300.
I am looking for a break below 0.8490 to enter a small short position to target the 0.8300 base.
A sharp rejection higher would indicate further range...
The rate has broken down from a short term symmetrical triangle formation.
I am now looking for a pullback towards the former support in the 1.6400-1.6430 area which should now become resistance and will enter a new short position if we see strong rejection there.
The immediate target should be the 3-month-long rising trendline support around...