As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.996.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=0.9975.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
One of the economic releases of the day was the U.S. Crude Oil Inventories which helps measures the weekly change in the number of barrels of commercial crude oil held by US firms. The way it works is that the amount of inventories helps influence the price petroleum products which can have an encounter with the inflation rates. Traders have got two things which...
descending trend line
hit the fib level of 61.8
over 4 types of resistance correlating at the entry price
stop loss over the next higher fib level
4h our bearish
nice easy drop do to most recent low
I can personally see this pair having a massive drop. We see it finally breaking through the trend line which has been tested on multiple occasions over the last couple of months. Also i can see a head and shoulders pattern form on the daily chart which has now broken the neckline. Price action has been very bullish and i can see this retracing to the trend line...
Price has reached a key resistance level and also has a closing reversal candle. Price is currently in an uptrend, but price is likely to retrace to the trendline. Stops can be placed above the resistance zone.
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
21 Cross-Rates (52th Week Statistics) @ drive.google.com