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