My bias on this pair is short term bullish, up to around 0.65000 region. Skeptical on this pair as its been very very bearish for a long time, but due to USD fundamental happenings this pair could gain some strength. No current set up on this but I would be temtped to take a long trade if I saw a break and retest of 0.64400 region.
My bias for this pair is bullish for a few reasons. From a technical perspective, a strong bullish run at the end of last week from 1.19500 looks to indicate the bulls are finally getting some strength. If i was to see a retest of 1.22500 level I would look for more bullish confluences for a potental long set up, aiming for 1.24000 as my first target. This pair is...
After catching a nice a nice 110 pip long from 1.09644, the short term outlook on EU is looking bearish in my opinion. After a trendline break and a clear 1hour TF head and shoulders formation, my bias is a 60 pip short back down towards the levels of 1.09644
Looking into the next week, EU could begin to push up towards our long term target of 1.14500. Would want to see price break back into the channel lines you can see, and a clear break and ideally retest of the 1.12600 region as its shown an important zone for price reaction.
Since the drop from 1310, gold hasn't really recovered. My bias is this pair will remain bearish next week with a target @ 1250
Cautious as we could see a trendline retest for a more confirmed short, but we will wait and see
From a technical perspective, EU looks like its pushing some a swing upside before carrying on the downtrend we can see from higher tf's
Our daily key level of 1.2000 was tested and rejected, resulting in a minor hourly downtrend break,
Also we can see an inverted h&s formation created and this shoulder showed 4hr rejection to the key level
My personal bias is...
Breaking this down from monthly, we can harsh decline since Christmas time
The weekly/daily has shown numerous impulse moves to the downside
Its now sat on a key level priced at 1280, with my bias on more downside continuation
This is purely an idea, before any move was valid I would want to see a clear break and retest of 1280 for downside movement
USD/CAD potential long
Daily is showing strong upside momentum since Oil peaked at $62 a barrer and it now rejecting/retested lower prices
Upside target personally I see 1.34400 being reched if oil doesn't rall off anytime soon,
Will be taking profits rather quick on this long due to the unstability with oil correlation. Already up 40 pips from prevision...