- broken weekly trend line and now in a downtrend
- made a new lower high at the 50% fib level
- 4HR moving average crossover
- 3rd bounce off daily trend line
- first target 1.30 then reassess and look for a break to target 2 (D1)
- taken out previous higher low and made lower high
- evening star formation at 38.2 fib level
- moving averages crossover
- fib target D1 lines up with key level of support (1.22500)
- slight head and shoulder pattern also
-weekly ascending channel
-weekly higher low made
-weekly counter trend line broken
-4hr ascending channel
-4hr fib found support at 61.80% level however there is a chance of further retracement before going long
-4hr target 1 - 127.20%.
-4hr target 2 looks very likely as it has confluences with upper channel boundary to make new higher high.
the pair is currently in a downtrend. On the daily chart the inner trend line has been broken and has come very close to second point of the original trend line which is point B before retracing back up to point C which is the re test of the trend line. I believe the extension from point C is the fib pattern continuation. Once the outer trend line has been broken ...