monthly falling wedge continuation
price has bounced off daily support and now its being rejected by resistance at 38.2 fib if price breaks this level i expecting a retest before i decide to go long. At the moment price is trying to create double before we push on the upside.
This pair has been stuck in range for a period of time. waited for clean break on 4 hour time frame from range it was stuck in and the trend that it was in. after i waited for retest before going short and holding it over night. price returned to supply zone and weekly support. price can go down either further however with NFP within the next 30 Mins anything can happen.
Price has previously broke weekly resistance 4 times on daily time frame. However price has found support at 0.73234 this being confirmed by fib extension as it lines up clearly with 61.8. This also indicates to me that there is a lot of confluences within this area. furthermore I have been able to identify two possibles for this pair, if price breaks above...
This chart is in monthly downtrend, it has broken weekly support also 50% fib. However price is right now at daily support, I am waiting for price to break daily support on 4 hour chart whilst also breaking the liquidity trend line as this gives me confirmation that price could potentially be going short, However I will wait for retest before making any decisions...
we can see a double bottom where price is at now however if we look back we can spot that price has been rejected by weekly resistance and resulted in downward move
Broke daily support and liquidity trend line retested before moving a downward move. price stuck in range waiting for a break after retesting previous high.
target new daily support.
PRICE has hit weekly resistance, it then broke out of the LT it has retested that trend line before going short. Also with USD personal income being positive it has given USD currency strength and caused EU to push price down towards daily support.
markert was stuck in rang once it broke out of that range market has decided to retrace which is what it was doing. I am expecting a pull back to 61.8 as the further the pull back the stronger the push.
Potential long however due it finishing with exhaustion candle i am expecting a pull back to retest structure before going long. This potential long looks good due to the market breaking the weekly counter trend-line. However we do not know how far the pull back will be so therefore we will wait and see. I have used fib extension to show me area of high confluence...