Analysing the weekly and daily time frame we have price hovering and being rejected at key level (61.8% Retracement) However looking at the daily time frame we have divergence and oversold on the RSI. Key Confluence for downside target of 1.157500: - 200 EMA acting as magnetic support - Key structure level - Key retracement level. If price breaks below the...
Price on the weekly and monthly chart demonstrate price being at a key level (61.8%) retracement. That being said as seen on the daily time frame we have divergence with oversold on the RSI. On the opening of the market (for those day traders) price can reach 1.6000 then we may begin to see bearish PA. Our first downside target is in confluence with key structure,...
Have a bearish Crab formation with bearish candlesticks on the weekly time frame at key resistance. Our first downside target is 137.000. Once this target is met our next target would be 134.850 then 133.400. However, once each target is met PA confirmation is required to hold onto the positions. We have lower highs which represent bearish momentum. For day...
Can expect a retracement up to 100.350-100.500 on the opening of the market then a continuation to the downside to targets of 99.900, 99.400 then 98.750. Once each target has been hit PA must be analysed before keeping positions. However, on the opening of the market price can also continue to the downside without an retracement. We must wait for the opening...
Price currently hovering around key level 17.30. Waiting for PA confirmation to set up a short position down to targets as follows: 13.80 then down to 9.00. However, if price does break above 17.30 and the upper bound of the channel then our upside targets would be as follow: 21.30. However, primarily i believe price would decrease as the earnings are also...
Trade set up short on the breakout of the trendline, could have a safer stop loss at 1.55400. If price breaks below 1.5050 then we would look to further downside potential of 1.4900-1.4500. Being Bank holiday weekend in the UK i believe price would reach at least 1.5200 by the end of the trading week.