There is a double wave move that completed on the Daily chart. I think the pair has reached a top and it is about to reverse from here. Look for this false break on the H1 chart and go for a sell Target 1: up trend line (from the lows) Target 2: D1 20 MA Stop Loss: above last high
EURUSD breached 1.14 last week but appears to be a false breakout - the Head & Shoulders setup could still be valid. Look to short a lower high between 1.13 and 1.14 with a stop above 1.1465. More conservative traders would wait for a break of the ascending neckline. Break above 1.1465 invalidates.
$FAS is testing the bottom of a weekly channel. Critical support zone to watch but on the longer term, I'm bearish
1. Spike into the 127 extension can be a good place to look for reversal. First target will be broken trend line. Below it - Bye Bye $FAS 2. In case that the price will not reach the 120$ level, a cross below 115$ can turn this latest upside move into False Break and send the bears in..
A close above 0.45 could mean that the last two days were cleaning days before the launch..
Referring to my earlier analysis on the daily chart for this pair in the link below, this market has gone deep into the identified support zone and pushed beyond the lower end of the zone before rallying back up into the zone at the point of writing this post. The candle in H4 chart is not closed yet. Will wait and see if this is the false break I have been...
Last week, market tested and broke resistance zone around 102.75 three times but failed to close above it. From the chart, we can see the three candles with long upper wicks showing rejection of resistance zone. Will be looking for short opportunities from any retracement back to 102.75 level.