- I am expecting some bullish pressure of the USD this week.
- Price may may a final bearish push that may create a bearish reversal pattern, testing the below area of support
- From there price will test the previous area of support which created the above head and shoulder (or triple top) before it broke below.
-This move is just a retracement to test that area...
-Overall the DXY appears bullish, so I'm looking to buy USD pairs
-On the Daily TF price ended in a reversal candlestick after a bullish push
-Expecting price to make a retracement that would ultimately test the neckline of the previous double bottom
- A retest to this area would possibly complete the right shoulder of an inverse head and shoulder candlestick...
I believe that following its retracement back to 1.26100 (now complete), it looks like bearish continuation will happen however wait for candlestick confirmation perhaps on the H1 chart before placing Shorts.
My target price is a retest of the bottom range 1.25675 - 600
In addition to the Stochastics, and SMAs, i would consider opening a EUR/USD chart to see the...
