RETEST ON THE RESISTANCE TRENDLINE WITH A SOLID BREAK ON THE SHORT TERM BULLISH TREND FROM LAST WEEK.
I HAVE A VERY DOVISH OUTLOOK ON THE CPI DATA THAT WILL BE RELEASED BY THE RBA BUT BEFORE THE RELEASE WE COULD HAVE A FALSE BULLISH SERGE AS A PUMP BEFORE THE DUMP.
Clear breakout of the triangle pattern presented to us by the market. before going too heavy on shorts, I am still expecting some pullbacks to occur. Another thing I am watching out for that could lead to potential USD weakness is the fact that the GDP data which is being released on friday might be dovish and cause a slowdown for the dollar.
Nothing much is...
Clear break of support (1.12479) followed by a good retest.Expecting market to now head down to my region of support (1.11965) where we could either see the Euro regain some strength and push the pair back up before the major short or we can see the bears take control of the market and break the supportive region which will allow for a long term short to occur.
After the shorts taking last week, I am looking looking for more entries with good risk to reward ratios that can then allow us to maximize on this pair.
Bulls gain a bit of steam and allow for a pullback all the way to the resistance marked in yellow/orange (126.153 region). Once we reach this level, I will have a sell stop placed below the bearish...
Great resistance bounce followed by a triangle breakout on the lower time-frame (H1) giving us a good short opportunity with good risk to reward ratios.
I have placed 2 different trade setups on the chart one with a wider stop-loss and take profit which gives room for any retracements which may occur. The second setup has a tighter stop-loss and is more for those...
MARKET IS CURRENTLY HOLDING STRONG MONTHLY RESISTANCE WHILE APPROACHING THE END OF ITS TRIANGLE FORMATION.
WITH POSSIBLY WEAK FUNDAMENTALS AHEAD FOR THE EURO, WE COULD SEE THE SUPPORT REGION MARKED IN BLUE BROKEN AND THEN FOLLOWED BY A BREAKOUT OF THE TRIANGLE AND THEN ULTIMATELY GIVING US A MORE LONG TERM MOVE.