ON THE MONTHLY CHART WE NOTICE THAT ITS IN AN OVER DOWNTREND , ON THE WEEKLY CHART WE NOTICE THAT THE MARKET HAS BEEN CHANNELING BETWEEN THE MONTH RESISTANCE AND THE WEEKLY SUPPORT DATING BACK TO NOV OF 2016. ON THE DAILY WE NOTICE THE AFTERMATH OF THE FRENCH ELECTIONS AND NOTIVE THE EMAS ARE CROSSING. SINCE THE 12 EMA IS CROSSING THE 36 IT INDICATES A STRONG...
CURRENTLY THE MARKET IS RESPECTING THE MONTHLY RESISTANCE AT 1.36300. MOVING TO THE WEEKLY, I NOTICE THAT THIS RESISTANCE ZONE HAS BEEN RESPECTED A TOTL OF THREE TIMES DATING ALL THE WAY BACK TO NOVEMBER 2016. CURRENTLY THE MARKET IS CHANNELING BETWEEN THE MONTHLY RESISTANCE ( 1.36300 ) AND WEEKLY SUPPORT ( 1.31200). MOVING TO THE DAILY THE MOST RECENT CANDLE (...
MONTHLY TREND IS CURRENTLY SLOWLY BULLISH AND MOVING DOWN TO THE WEEKLY FOR THE PAST COUPLE OF WEEKS HAS BEEN CREATING HIGHER LOWS AND HIGHER HIGHS CONSISTENTLY. DREW A TREND LINE CONFIRMING OVERALL BULLISH DIRECTION. ON THE WEEKLY CHART IT ALSO SIGNIFIES THE MARKETS RESPECT FOR THE MONTHLY RESISTANCE AT 1.02600. ON THE DAILY I NOTICED IT RETRACED OFF OF .786 FIB...
CONDUCTING OUR TOP-DOWN ANALYSIS, WE NOTICE THAT THE MONTLY CHART DEPICTS A BEARISH TREND, BUT ONCE WE GO ON THE WEEKLY IT SIGNIFIES A BEARISH TREND WITH TWO SHOOTING STAR PATTERS WITH A GAP IN BETWEEN. THIS GAP IS DUE TO THE FRENCH ELECTION OVER THE WEEKEND. UPON PLOTTING OUR DAILY TREND LINES WE NOTICE WE ARE STILL IN A SHORT POSITION SINCE STRUCTURE HASN'T BEEN...
OVERALL BEARISH MARKET FROM A MONTHLY AND WEEKLY STANDPOINT, ON THE DAILY IT IS CURRENT RESPECTING THE MONTHLY RESISTANCE AT 1.2800. CONSOLIDATION IS APPARENT IN THE PREVIOUS FOUR DAYS. ON THE DAILY IT ALSO IS DEPICTING AN ASCENDING FLAG, WHICH IS A STRONG INDICATOR OF A MAJOR BEARISH MOVEMENT. ON THE FOUR HOUR IT SHOWS MAJOR CONSOLIDATION AND UNCERTAINTY OF WHERE...
OVERALL BEARISH MARKET FROM A MONTHLY AND WEEKLY STANDPOINT, ON THE DAILY IT IS CURRENT RESPECTING THE MONTHLY RESISTANCE AT 1.2800. CONSOLIDATION IS APPARENT IN THE PREVIOUS FOUR DAYS. ON THE DAILY IT ALSO IS DEPICTING AN ASCENDING FLAG, WHICH IS A STRONG INDICATOR OF A MAJOR BEARISH MOVEMENT. ON THE FOUR HOUR IT SHOWS MAJOR CONSOLIDATION AND UNCERTAINTY OF WHERE...
Started with Top-down analysis, plotted my M & W support & resistance points. From their assessed over all trend on the weekly and daily. It confirmed a bullish trend. After we started plotting our trend lines on the 4H with multiple occasions confirming our position. On the two hour we noticed a morning star retrace off of the .382 fib line and trend line,...
