Selling/Buying Potential - I have left an alert to asses the quality of the previous resistance line (Dotted line), I want to check if it tests it and gets back on the upside or break on the down side to set an entry.
P.S - Keep an eye if its breaks or tests in either the 0.50%/0.618% Fibonacci line for a close or to still hold unto the move.
Selling Potential - Its been struggling to break through the 23.6 Fibonacci levels for more then a month. If that level gets tested and broken I can expect it to rally & hit the trend line. Keep a good look at it to check if the breakout is not fake when alert occurs.
Buying Potential - You can see a consolation being formed which was around for about 3 days. If it breaks through it on the upside it could rally to around the resistance (Red colored)
If it breaks the support (Orange Colored) expect it to hit around the 1 month + old support (Blue Colored).
Here we have a long opportunity on 4HR time frame. The market has seemed to come to an end of downwards momentium. If you switch on to the daily time frame you will also see Spinning Tops starting to form.
1) A failed head and shoulders pattern @ key daily resistance @ 0.86002
2) Price has broken the 0.86002 zone + counter trend line
3) Expecting a pull back from the H4 Resistance zone @ 0.86919 zone. ( opportunity for short term shorts)
and retest of the counter trend line + now support zone @ 0.86002
for longs towards 0.87315.
4) Upside target @ 0.87315 @ daily...
1) Expecting a pull back into Daily resistance zone @ 113.847
2) If Daily resistance zone @ 113.847 holds
+ break of trend line expecting shorts to lower bounds of the range @ 112.35
3) Downside target ~ Support zone @ 112.354
4) if downside target @ @ 112.354
is achieved and broken will watch price action in this zone for further shorts towards 110.939 zone
1) Oil has been making lower swing highs and and swing lows
2) Expecting a new low to be formed around 46 zone @ daily resistance zone
3) A Break and restest of the trend line will warrant short entries
4) Downside Target 1 42.50 zone
Technicals ( Bearish ) - Price has just tested resistance zone and showing signs of bearish momentum , the divergence provides confluence. Market is a strong down trend aswell, expecting a breakout of the 8660 area
Fundamentals ( Bearish ) - European Central Bank (ECB) signal more quantitative easing, however it is unsure whether this will be effective reducing...
Technicals (Bearish) - Price has just tested resistance zone and showing signs of bearish momentum, the divergence provides confluence.
Fundamentals (Bearish) - Increasing speculation around USD rate hike provides more bearish momentum for the pair.
1) The pair has been making consecutive higher highs and lows in confluence with the overall bullish trend
2) Most recent bullish move = 3rd bounce of ascending trend line + upwards moving 200MA
3) Possibility for new highs on the pair @ 0.7500?
4) Target 1 0.74093 in confluence with 61.8 fib level
5) If price holds above 0.74093 we may see Target 2 @ 0.74998...
1) Daily resistance zone
2) Downside shifts in MA's
3) Previous/ most recent daily candle closed below resistance zone
, if zone holds + break of ascending trend line shorts to 113.847
4) If support at 113.847 fails to hold further shorts towards 112.354
( May see price pullback into 114.467 when 113.847 is reached to accumulate shorts to take out the 113.847...
Right, here we see this pair stuck in a range for the last two months or so, manufacturing data to be released on Monday morning for GBP. We will either see this pair break through the box and reach 1.34 or retrace down to 1.31 level.
Either way, take your pick, trade after the news if you wish, however, trade safe.
What we see here is a Bull 123, Hidden Divergence
PA potentially may find support at the 200MA, i can expect a few pin bars down to a previous demand zone at 1.10702/1.10518 and the ascending TL. We look for an entry on the lower TFs to get into this move.
Look like i'm The Bullington Today. Lol