2017-05-07 Still in consolidation although this could be seen as having broken out of a triangle pattern and heading Bullish. I'm not convinced until this closes above the previous structure at 0.85304. RSI and Stoch not showing much interest but with plenty of room to head to oversold later this week. Watch and see for me, not betting either way. Current price...
2017-05-07 Keeping it simple, in the face of French elections, The trend is bullish and I expect the Fib Future D at 1.10609 to be the next target. Price action remains above SMA50 and RSI and Stoch heading into overbought zones. AB=BC or Fib extension all indicate potential for higher price action. Pet-D stil Green too.
2017-05-07 Price action has broken above and closed above SMA50 and previous structure high, suggesting reversal to Bullish trend. Currently around a fib 23.6 level and anticipate heading to 38.2/next structure resistance level. RSI and Stoch also indicate continuation into over bought zone suggesting confluence of structure/Fib 38.2 and SMA buy side. Short term...
2017-05-07 Down Trend continues with possible Future D at 1.0665 level. RSI and SToch indicate mid point price action with no obvious entry point yet. Will look for an Overbought opportunity to SELL down to Fib Future D. PRice action currently re-testing/respecting previous structure at the fib 1.272 level (1.07186). This suggests the current action could be seen...
2017-05-07 Daily trend is Bearish. Current Price Action in indicates reversal with RSI and Stoch approaching OverBought positions. It has closed above previous structure high at 83.429 and shows a small "rest" around previous structure resistance at 83.520. It has also broken above and closed above SMA50 indicating a reversal potentially. I'll be looking for...
2017-05-07 Daily trend remains Bearish/Down. Recent retracement appears to have resumed down trend. RSI and Stoch are heading towards oversold. Price action still below SMA50. Price action has hit strong support zone. It may pull back bullish before continuing down or push through and head towards Fib Future D at 1.00041 or close. Recommend watching price action...
2017-05-03: Interesting Price Action on this pair. Looking back we can see that the current bearish trend could be seen as continuation after a complex pull back and is now resuming the bearish trend continuation. The pullback almost reached a 61.8 fib level but stopped at previous structure resistance. If this is now in trend continuation then the current price...
2017-05-03: Price action has entered consolidation after a bullish period of 531 pips. The price action remains Bullish above the SMA50 and Inner trend line. Waiting for a breakout from the Triangle Pattern to indicate trend reversal or continuation. D1 levels of historic resistance are sitting right above, and have been tested by, the recent price moves. No...
2017-05-03: Price action has been bullish for over 410 pips. One must expect it to run out of steam any time soon. The current level has peaked at a Fib Future D (1.618 Extn.) and this would suggest a reversal or pull back - which has happened and almost made a double top. Since the pull back an inner rend line has been broken and price action has been in the sell...
2017-05-03: Trend is bullish, no break below/close below previous structure low. Current structure High is lower then previous structure High - indicating a phase of consolidation. This looks like a Triangle formation or pennant in the making. Long Term trend (D1) remains Bearish, but supports the consolidation we're in right now. Recommend wait and watch.
2017-05-03: Long Term (D1) trend remains Bullish. Current price action hugging SMA50 and remaining above Trend Line. Returning from a pullback so expect this to move to at least previous structure High at 1.09340.
2017-05-03: Support found at 0.72100 - Bearish Wedge pattern formed and high probability that the break out will be Bearish and a continuation. However, current support is historic so significant. The current candle pattern may suggest a reversal. If so next target would be at 0.72552 -Top of Wedge. If this breaks through earish then next Target would be 0.71911...
2017-05-03: Price action currently siting on a previous 50% level. Having broken the previous structure low and closed below, this price action has broken the SMA50 and Upper Trend line, and is heading south. On a short term retracement. Assuming continuation of Bearish move, the next target should be 1.0766 at previous structure Resistance. A move of around 30 pips.
2017-05-03: Price action currently siting around 38.2 pullback. Having broken the previous structure low and closed below, and put in a previous double top, this price action has broken the SMA50 and is heading south. RSI and Stochastic are oversold or close to oversold, suggesting a short term retracement is close by. Assuming continuation of Bearish move, the...
2017-05-03: Trend continuation of current price action closes below previous structure low - which it just has. Target will be the Fib 1.2672 extension at 0.73561. RSI and Stoch are oversold and we should expect a pull back or consolidation before further bearish moves south. Estimated 46+ pips to make here on a Sell.
2017-05-03: Trend reversal if break below and close below previous structure low. Waiting on lower close. However, if support is respected and then this represents a double bottom and expect trend to resume bullish if the price closes above previous structure high.
It could continue to Fib Future D at at 1.37144/1.37135 - I think it'll be out of steam by then, 1.3700 would be a safer bet, if it makes it that high. There are signs of reversal in RSI and Stoch (Divergence) - beware. Once turned I'd expect it to make it's way back down to major support at 1.38535. The whole trend is almost 500 pips so it's due a turn. I'll be...
Waiting for pull back to up-trend line, RSI and Stoch over bought for Entry. Target is 0.99944 around 30 pips, whoch is Confluence of Fib future D (1.618 Ext) plus AB-CD and previous structure Resistance.