Traders,
Seeing bears taking over at the resistance line and 618 fibonacci level.
We saw an nice retracement after a strong impulse leg.
Likely to see another strong move to the downside!
Could be a long term trade!
Best regards,
Looks like a really clear bearish signal rejecting previous S/R level, a Fib 68% retrace level and a long-term downwards trendline.
A previous bearish engulfing signal on 26/8 failed as there were still too many over enthusiastic bulls around after the pairs phenomenal upwards move the previous week, causing the price to drop to do a fib 38% retrace and attempt...
Traders,
I Noticed a very nice oppertunnity to get short on EURSGD.
This pair is moving down for a while. We got a nice retracement to the 618 level and the resistance line after the impulse leg.
The candle´s of this week showed bearish strength.
Very likely that we see some nice downside movemend in the next weeks.
Thanks for the thumb up :).
Have a great weekend!
Price on this currency pair is squeezing as a triangle pattern is starting to form. The corner of the triangle is hitting on a very important date, the EU referendum (23rd June). Be ready for a big reaction on this currency pair.
Will that bat pattern complete ? not sure
Wait ...
Trade your plan
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