Price keeps on respecting the current bullish channel, we have seen a closure above the 1.33070 resistance which last happened in September, we are now seeing a retest meaning that resistance could now turn into support so if the current 4H candle closes above it I will enter long targeting the resistance trendline around 1.34000s.
As predicted price broke out of the wedge to the upside and if we look at the long term pattern, we can see that price is heading to the resistance trendline of the monthly channel. Currently I am looking for a break above current resistance where I will enter a long term trade to the resistance trendline.
After breaking the weekly resistance trendline price found resistance at around 114.000, retested the weekly resistance and looks to be back on its way up. From the 1H view we can see that the bearish trendline and previous short term support (in blue) has also been broken, triggering a long position for me. I could have waited for another retest but we will see ...
Price is trading within a long-term wedge and should be on its way to the bottom side. Currently in a downtrend, is retraced upwards to the 50% fib level of the latest drop and looks to be resuming its bearish movement. After the close below the box, I waited for a retest of the 1.46446 support level.
OBSERVATION: Since September 2016 price has been ranging within a wedge. The 1D view is showing that price has closed below the bottom trendline and bounced back up to a resistance zone and closed below it. All EMAs are bearish and the 20 is about to cross over the 50. We could see the start of a downtrend so I will be entering short targeting first 131.650.
Good evening ladies and gents. Right now on the D chart, I see a retest of the previously broken support line which is now acting as a support line again....this support line has been tested many times but has been broken in recent movement. Waiting for a buy stop to activate and take profit around the 5.700 region and put the stop loss at around 5.33945
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.