Previous month candle closed positive, price has fallen below the previous key support level of 1.15000 hitting a new Week Support level of 1.13100. The week closed positive above this level showing bullish momentum. Price is now expected to return to the 1.15000 level to retest it.
1.4RR Trade
Stop 1.15900
Target 1.14570
Month Support at the 1.15000 level broken. Week candle also closed convincingly below this level heading lower towards the next Week support level of 1.13100. Looking for 4 hour candle close above this level before entering long for a reversal back up to the 1.14000 level.
2.5RR Trade
Stop 1.12800
Target 1.13950
Month Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position
1.2RR Trade
Sell limit 84.500
Stop 85.100
Target 83.900
Month Support at the 1.15000 level has currently held although the close of last months candle still shows overall bearish momentum. The Weekly candle which also closed below the key week support level of 1.17150 also confirms bearish activity and will now act as potential resistance. Looking for a fail of the 1.17150 area before entering short.
1.7RR Trade
Stop ...
Key Monthly Support area of 1.15500 being respected. Momentum currently heading back up towards Week Resistance level of
1.17150. A wider range of 1.15500 to
1.16300 has also been established.
1.6RR Trade
STOP 1.17550
TARGET 1.17675
Price has been rejected off of the Monthly Support area of 1.15550 heading up to the Weekly Resistance level of 1.17150. Waiting for Fail of level before getting short. Note Price is in a wider Range of 1.15550 to 1.18350
1.2RR Trade
Stop 1.17400
Target 1.16750
Price closed below week support level of 1.17150 after a strong rejection off key day resistance at the 1.18350 area. Momentum expected to retest Month Support at the 1.15500 level before looking for long opportunity.
1.93RR Trade
Target 1.17000
Stop 1.14800
At Week Support, possible daily close positive, 4Hr starting to show signs of holding key level. Will enter long position if price reaches 1.33500 level with
Stop 1.32800
Target 1.34600
1.6 Risk Reward Trade
Could still continue lower towards the 1.30400 area
