Monitoring the EURGBP pair we have identified an RSI divergence on the Hourly chart.
We anticipate to see a retest of the 0.84260's level after the false break out (see market conditions) followed by a break-out of the rising wedge formation with even bigger profits.
Profits and stop losses are set according to previous structure supports with the latter being...
Based on our previous long-term analysis (please see links below), our general feeling regarding the EURUSD pair is going short.
But, as we mentioned on the original idea, we would expect the price to retrace and retest the previous structure support that was broken a few days back on the 1.05700's region.
We believe that this falling wedge formation may...
While monitoring the GBPCHF pair we have noticed a clear RSI divergence.
We will be looking at smaller timescales for additional confirmation of the move prior to placing any orders. Supports/resistances from previous structure are located at 1.25000 and 1.21500 levels
All feedback and comments are highly appreciated.
Looking over the Weekly chart for the EURUSD pair we can identify an attempted break-out of the rectangular formation, expecting a continuation of the downtrend dating back to May 2014.
The above is also supported from a shooting star on May 2016 (to my eyes at least), clearly indicating a short move, and we have been looking at the price tag going South since...
Looking a few days back, there is a excellent morning star signal that does not quite come through until the news today where the 123.000 level was retested (false break).
Looking at the structures performance there is still a bit left to go with open retracement opportunities (scalping short-term buys).
Price expected to reach the 120.800-120.750 range where...