- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the lower trendline would support the continuation of this pattern.
- Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May.
- By close of...
- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the support line would support the continuation of this pattern.
- Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May.
- By close of play...
As an update to our Jan 5 post on EURUSD titled "EURUSD-Likely-To-Find-Buffer-At-1-10977", actually, the currency pair actually found the buffer at that level. Now the H4 sentiments has turned bullish while Daily is still bearish. As a result, we are expecting price to re-test the low at 1.10817 EXCEPT the US/Canada/Ukraine vs Iran is escalated - in that case, EUR...
Gold broke lower out of this channel after testing this weekly level to the upside. Prices then pulled back after testing the daily level to the downside and is currently rejecting the 61.8 fib. If we see bearish price action I will enter short
GBP/USD is in a key area and we have had two 4hr inside bars. A break above this area would show that support is holding, therefore giving long opportunities. A break below weekly support at 1.2420 would see us short to around 1.2250-1.2200. It is important to remain unbiased and trade what we see here
