PATIENTLY WAITING. DOLLAR HAS BEEN SHOWING WEAKNESS AND POSSIBLE BULLISH RUN TO TEST PREVIOUS HIGHS. PRICE ACTION HAS FAILED TO BREAK MAJOR SUPPORT AREA AS OF RECENT MONTHS. LET PRICE ACTION TELL YOU WHAT IT WANTS TO DO.
i see a new low on FXE that follows EURUSD. On weekly we have a bearish breakout with a possible retracement going on. I see a retracement up to falling window at 118 level. Possible completion of Bearish cyper. But deff a chart to keep a eye on throughout this year. and next Keep on radar.
1.618 extension will move to 93 level. 2.618 extension could bring to 83 level.
POSSIBLE DOUBLE TOP OF CLOSE UNDER NECKLINE. POSSIBLE BULLISH BAT OR CRAB PATTERN IN CURRENT RANGE(CONSOLIDATION). COUPLE OF BEARISH CANDLESTICK PATTERNS AS WELL. CLOSE UNDER 0.74910(NECKLINE) ON DAILY CONFIRMS BEARISH MOMENTUM WITH A 2000 PIP SHORT OPPORTUNITY. ONLY WITH A CLOSE UNDER NECKLINE!! MY CURRENT ANALYSIS 1:59AM EASTERN TIME U.S.
didn't get bearish confirmation on pink cypher. still expecting price action to reach trend line as well as run up to complete huge cypher above 1.100000 psychological level. also inverted head and shoulders pattern
SCENARIO 1. SHORT D COMPLETION ON CYPER IN PINK IF WE GET A CLOSE OVER NECKLINE OF DOUBLE BOTTOM. EXPECT PRICE ACTION TO REACH D ON PINK CYPHER
TAKE PROFIT AT B OR A TARGETS ONCE SHORT. OF COURSE WAIT FOR BEARISH CONFIRMATION AT D COMPLETION. PRICE ACTION MAY JUST KEEP RALLYING IF FED DOESNT RAISE INTEREST RATES NEXT WEEK.
SCENARIO 2. SHORT D COMPLETION ON HUGE...