If we see a move back and close back above the 131.46 area we may resume higher within this short term channel . Buying near the short term trend line support if it holds up the next time when price closes in on it seems like a good idea but overall trend is bearish on H4 time frames . If we break below the T.L support we may see the pair decline further.
On Hourly time frame Euro seems to be finding resistance early on under the T.L Resistance from November 25th 2015 which clearly symbolizes that upside will stay limited until we see a breakout and a decent follow through after a retest against the Greenback . For short term we can consider 1.0584-94 and 1.0604 as resistances. Support levels to keep an eye out...
Looking for a near term short trade on Eur/Gbp . Overall seems like a nice setup but the pair has found resistance early on.We haven't even retraced 0.236% of the move just yet which seems a bit unsettling but we have broken out of the medium term bullish channel which is one of the key factors here and current day candle shows that sellers took control just...
Euro managed to bounce back from support @ 1.0570 area and tested the 0.236% area resistance @ 1.0616 area and went as high as 1.0642 just shy of that 0.382% retracement level but we closed back above the 0.236% retracement leave with a nice engulfing candlestick against the Dollar.In my opinion we may just have carved a bottom at 1.0570 area and we may continue...
Eur continues to extend losses against the Aussie.The pair is looking incredibly bearish in the near term.With a move back below the 0.618 % area.It seems we can continue moving lower and probably consider the 0.764% area as a next decent area for a rebound.Keep in mind that this bearish range the pair is trading in is getting tighter with each day.A breakout of...
We Could possibly continue to trade within the channel if it remains intact.However if we have a breakout towards the downside 2.2440 area is likely to come into focus before that we require a close below 2.2944 area. A clear break above 2.4148 area suggests a resumption of the bullish trend.How ever we may continue to trade within the current channel if we get a...
After posting a bearish engulfing candlestick on Friday last week ,we continued to decline on Monday and posted a low near 1.5114 area.We may continue to head lower further within the descending wedge.Likely to find a decent support near the 1.4994-1.4988 area.A breakout out of the wedge to the downside could extend the losses for Pound.Short term resistance lies...
Seems like Twitter could extend losses after the breakout from last week !
After failing to stay above 1.17 in and after August 2015 and closing back below the 0.236% retracement level.We seem to be right back on track to resume the major trend for the downside. Two weeks back we closed with spinning top candlestick giving us the idea that bears may be losing control and perhaps more retracement to come but the week followed by that...
We may have formed a top @ 1.0764 area.Momentum is seems to be fading however a bit of follow through and break below 1.0716 area is still required for a continued move lower.Near term support lies @ 1.0716-08 area.Another thing to keep an eye out for will be the short term T.L support from 18th of November which is intact.Breakout of that and we may see a retest...
Look to enter short around 61.44-61.70 area with stops above the 65.20 mark.Targets are 52.40 and 49.80
Looks like from here on in short term we'll be going high and approaching the T.L resistance of the main bearish trend channel soon.Look for shorts around the 1.0704 - 1.0724 area with stops around the 1.0828-44 area with a target of 1.0488-58 & 1.0344
ARE WE IN FOR A MAJOR BEARISH BREAKOUT OR ANOTHER REVERSAL.WITH HALF AN HOUR REMAINING THE FOMC MINUTES EVENT.HOW DO YOU THINK THINGS WILL TURN OUT ?
FOR THE PAST COUPLE OF DAYS POUND/DOLLAR MADE FEW ATTEMPTS TO ADVANCE HIGHER BUT IS FAILING TO BREAK ABOVE THE 50% FIB RETRACEMENT LEVEL @ 1.5268.IF PRICE CONTINUES TO STALL AROUND THE AREA THAT MAY BE A SIGN FOR A POSSIBLE TOP FORMATION AND BEARS MAY JUMP IN THEREAFTER.IN CASE OF A BREAK ABOVE THE 50% RETRACEMENT AREA.WE COULD LOOK TO SHORT AGAIN AROUND THE 61.8% AREA..
SO FAR 117-119 LEVEL HAS REMAINED HAS PROVED IT SELF AS A GOOD RESISTANCE.WE SAW PRICE BREAK THROUGH ONCE IN THE MONTH OF AUGUST BUT FAILED TO BREAK ABOVE IT ONCE BEFORE THAT AND ONCE AFTER IT SO TWICE WE SEE A FAILURE TO BREAK THE LEVEL.SEEMS LIKE A GOOD AREA TO PLACE A SHORT TERM SELL WITH A STOP JUST ABOVE 119.10 AND TARGET OF 115.85 - 112.50
ACCORDING TO H1 TIMEFRAME EURO SEEMS TO HAVE FOUND A NEAR TERM SUPPORT THAT ITS HOLDING ON TO AROUND 1.0628 AREA.STOCHASTICS MOVING WELL BELOW THE 20 MARK.IF THE PAIR CONTINUES TO RESPECT THE CHANNEL ITS TRADING INSIDE.HERE'S HOW WE MAY CONTINUE TO MOVE.EURO MAY FIND SHORT TERM RESISTANCE AROUND THE 1.0660-74 AREA. SUPPORT LIES AT 1.0628.BELOW THAT WE HAVE SOME...
A FEW REASONS TO CONSIDER GOING LONG HERE.WE HAVE A NICE BULLISH ENGULFING CANDLESTICK WITH US YET TO CLOSE THE DAY.WE RETRACED 38.2% AND GOT A REVERSAL FROM THE 38.2% FIB LEVEL.TREND LINE SUPPORTS ALSO ALIGNING WITH THE AREA WHERE WE FOUND SUPPORT JUMPED BACK HIGHER.PRICES TRADING ABOVE THE 100 DAY SMA AND 50 DAY EMA .TREND LINE FROM SEPTEMBER 30TH REMAINS...
AFTER CLOSING YESTERDAY @ 42.04 WITH A GOOD LOOKING ENGULFING CANDLE CRUDE OIL FAILED TO PUSH HIGHER TODAY.CURRENTLY TRADING AT 41.04 AREA.... PRICES CONTINUE TO TRADE INSIDE OF THE TREND LINE RESISTANCE FROM NOVEMBER 5TH.LUCKILY WE HAVEN'T BROKEN YESTERDAYS LOW @ 40 AREA WHICH LEAVES US WITH LITTLE CHANCE. FOR ANOTHER POSSIBLE MOVE HIGHER.WAIT FOR A CLEAR BREAK...