Here I have EUR/USD on the 4 Hr Chart!
Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April
Currently Price is bouncing back and forth between the Falling Resistance and Rising Support.
Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern!
Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement.
Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday!
As Indicators go:
-Above 200 EMA
-DSR Assist
-Above 50 RSI
-Super Nova Layout +3
Price made a good push to the Upside surpassing the Highs earlier this month but then getting caught up by the Highs of April
Currently Price is bouncing back and forth between the Falling Resistance and Rising Support.
Potential False Break zones for both Resistance and Support are marked by the High and Low Points starting the pattern!
Pennants are patterns where the fight between Bears and Bulls is equal and eventually one will win out the other, this will be followed by a STRONG, CONVINCING Break of Pattern and Close to Validate the movement.
Fundamentally this week for both EUR and USD will be Flash Manufacturing & Services PMI being released Thursday!
As Indicators go:
-Above 200 EMA
-DSR Assist
-Above 50 RSI
-Super Nova Layout +3
Trade active:
Sell Entry @ 1.0845
SL @ 1.0855
SL @ 1.0855
Comment:
Comment:
Euro is weakening looking at Rate Cuts as soon as JULY!!
USD Rate Cuts for Sept down to ~60%!!
This looks pretty strong for USD!!
USD Rate Cuts for Sept down to ~60%!!
This looks pretty strong for USD!!
Trade closed manually:
EUR had some IMPRESSIVE Services and Manufacturing PMI numbers!!
Decided to close Sell Positions!
Looking for Buy Opportunities now!
Decided to close Sell Positions!
Looking for Buy Opportunities now!
Trade active:
Buy Entry @ 1.0833
SL @ 1.0810
*Will be adding positions after USD news this morning!!
SL @ 1.0810
*Will be adding positions after USD news this morning!!
Comment:
Price has found itself back up into the pattern before USD news!! Looking for price to test the Rising Support of the Pennant pattern
Trade closed manually:
What a Wild Day!!
I was at work so I was only able to check markets on break BUT here's an update:
-Close the Buy Entry once price came up to the Falling Resistance than showed reaction at the level.
I was at work so I was only able to check markets on break BUT here's an update:
-Close the Buy Entry once price came up to the Falling Resistance than showed reaction at the level.
Trade active:
Took a Sell Entry @ 1.084
SL @ 1.0855
Added ANOTHER Sell Position @ 1.0815
SL @ 1.0855
Added ANOTHER Sell Position @ 1.0815
We are seeing price react nicely!! Deep Fall Incoming!!