HAVE A GOOD WEEK! TRADE SAFE
-MONTHLY CHOOTING STAR CLOUSRE -DAILY MORNING STAR -TRENDLINE BREAK -PRICE FAILS TO BREAK ABOVE MONTHLY RES -MA CROSS TO THE DOWNSIDE WITH PRICE SITTING UP MA'S
-GOOD GDP FIGUES FOR CAD COULD PUSH PAIR OUT OUT CONSOLIDATION -MORNING STAR FORMATION
-PRICE WORKING IN-BETWEEN DAILY CONSOLIDATION RANGE TWO DAILY BULLISH CLOSURES IF SHOOTING STAR FORMS, I EXPECT A PULLBACK BEFORE US SESSION IF PRICE CLOSES ABOVE 106.740 ON A H4 TIMEFRAME THE LONG POSITION IS ALSO ON.
-DAILY SHOOTING STAR REJECTING MONTHLY -EXTRA CONFIRMATION IF PRICE MOVES BELOW BLUE EXPONENTIAL MOVING AVERAGE -POSSIBLE DOUBLE TOP FORMING -PAIR CURRENTLY AT YEARLY HIGHS -1ST TARGET 1.7200 -2ND TARGET 1.69500
DECSCENDING PENNANT FORMATION I WOULD BE LOOKING FOR A BREAK & RETEST OF THE GREY DAILY RESISTANCE BEFORE ENTERING SHORT WAIT FOR THE BREAK!!!!
WORKING KEY LEVEL TO KEY LEVEL
TIME FOR A CORRECTION IN THIS DOWNTREND -ALL TIME LOWS -WEEKLY PINK TREND-LINE REJECTION
New swing lows being created daily wick retested the weekly res as a resistance with price also moving under the MA's no daily or weekly long signals currently. This pair will I feel will continue to find bearish support zones. Purple horizontal lines are back tested daily key levels ranging from 2011-2013. Clearly sterling is in its weakest position for years
HEAD & SHOULDERS FORMATION AT YEARLEY HIGHS
CLOSING BULLISH ABOVE 1.73500 TAKES THE CURRENCY PAIR INTO HIGH TERRITORIES WHICH THE PAIR HAS COMFORTABLY MOVED WITHIN IN 5 YEARS AGO. CLEAN CHARTS HIGH TIME FRAME KEY LEVELS ONLY. THIS PAIR CAN MOVE 300 PIPS & MORE
CLOSING BULLISH ABOVE 1.73500 TAKES THE CURRENCY PAIR INTO HIGH TERRITORIES WHICH THE PAIR HAS COMFORTABLY MOVED WITHIN IN 5 YEARS AGO. CLEAN CHARTS HIGH TIME FRAME KEY LEVELS ONLY. THIS PAIR CAN MOVE 300 PIPS & MORE
TOO MANY STRONG RESISTANCE AREAS AROUND 1.32600 - 1.3300 WHICH BUYERS ARE NOT GETTING PAST I CAN SEE THIS PAIR MELTING BEYONG 1.31000 AND A LONG TERM OF 1.29500 IF WE CAN PUSH THROUGH 1 ST TARGET
TRENDLINE FALSE BREAK POOR GDP FIGURES FOR STERLING 09/08 REJECTION OFF MONTHLY
EURAUD AT YEARLY HIGHS, DAILY INDECISIVENESS NEED PRICE TO REMAIN UNDER WEEKLY RESISTANCE. MA CROSS TO DOWNSIDE
BREACK ABOVE WEEKLY RESISTANCE WITH MOMENTUM