Price is forming an XABCD Pattern in the right Fibonacci ratio's so far. Price is currently sitting at a strong resistance currently, so could take it for a sell right down to the target buy area.
Place stop loss just above point A.
Take profits at the various support levels throughout.
Last time I called this it moved ¬800 pips.
The European Central Bank had a conference where Mario Draghi, President of ECB, presented the ECB. One of his alarming statements were that the ECB has decided to cut their monthly asset purchases in half, from 60bn Euros to 30bn Euros, starting of January. With economic intuition, this enlightens Europe's inflation struggles it has had over the past few ...
The previous push above the 1.0825, (38.2%) Fibonacci retracement of the May-December fall and the 1.0870~ high of December 2016 has not been sustained, with EUR/USD falling back into range.
Downside risks, however, are expected to remain limited, as momentum studies continue to strengthen and positive divergence unwinds. In the coming months, fresh gains are ...
After some big news and bearish momentum for the euro pound, we can clearly see a triagle being formed on the H1-H4 charts. Giving us the good opportunity to short this market. To place an easy sell stop below lows, and wait for the breakout.
With a decent 1.5 risk reward, this trade is a good bullet.
Hope you guys have a good week.
1) A completed head and shoulders pattern @ key daily resistance @ 0.86002
2) A break of the trend line will warrant short entries
3) Downside target ~ Support zone @ 0.82971
