This one is starting to look fishy to the upside simply because it fails everytime at the same trendline resistance. However, I'm not shorting it either... at least not yet. I'd like to see a strong Daily close below the 1.27000 area which seems to be somekind of pivotal level for now.
Nothing to add here. Very risky setup as it is counter trend and today is Friday, so price may just consoliudate until the end of the day but nevertheless, I think this pair is worth tracking next week.
I do prefer the bullish outcome for the GBP but the price action is very bearish at the moment, so I'm not buying at market. Ideally I would take action after the black trendline is broken and re-tested. If it goes to the downside then I'll just let it go.
Channel holds for now but we are very close to the previous highs which means that market may be interested to spike higher to see what's above the 1.2830 area. It could be a simple stop hunt but it also may be a classical breakout. Time will tell.
Of course FOMC Meeting Minutes may change the game significantly.
From the fundamental point of view, Euro is not looking that good but from the technical side, things are actually quite interesting. I'm not saying that this is the bottom - fairly pointless to predict such things but I'm definitely very cautious when going short on lowerTF's because this current area, where the price is trading, may turn out to be a strong...
Impressive, really impressive rally. I was looking lower, so I'm not in it, instead I took a loss in this pair and now I'm looking for more clues what might happen next. I do suspect that if we reach the top of the blue channel then the 1.2827 highs will be taken out, so I will wait until the end of the week to see what happens after the NFP.
Possible triangle forming. Could push higher, however keep in mind that the BOE Stability Report is due tomorrow which means we may see only consolidation until then. Nevertheless, for now invalidation level is clear.
I'm out from all the long-term nzdusd shorts because the price reached my area of interest. I'm not buying here as the price action still looks very heavy but in the medium term I'll be looking for bullish signs.
Triangle scenario got invalidated but I keep my bullish bias until the upward channel holds. So the invalidation level is around 1.1040 area. Of course keep in mind that any bullish setup is counter trend and Greece debt situation is not helping either so it is a relatively risky setup.
Still looking lower and most likely I'll re-sell the break of the double bottom or if I see a clear rejection of the resistance zone, then I might start selling from higher levels. But the safe play is to sell the break of the double bottom.
Pretty much unchanged from last week, except for the fact that now we also have a fairly clear and visible triangle there as well. Ideal conditions for a fake move before the real thing, hence 2 scenarios. In the end, still looking higher.