Morning Star formed at the weekly 1.82500 resistance level. Followed by a further bearish momentum to break 1.77500 and now we have broken 1.7500 support. EMA are lagging on this time frame.
Weekly lower low has been taken out and a new lower low have been established. EMA are pointing downwards. Last weeks close below 1.7500 proves we could be heading...
Last Month’s Candle closed as a bearish engulfing after testing the EMA resistance. EMA also crossed to the down side.
2 weeks ago we saw a hammer form at the bottom of the down trend, this was rejected by the monthly support level, forming a lower low. Followed by last week’s doji which tested the EMA resistance. EMA pointing downwards.
Last Month price closed above 1.30000 monthly level. Will need to keep a good eye on this as last month a hanging man was formed also.
EMA crossed to the upside. HH and HL being formed.
Rejection on 61% fib level which formed an higher low. following by two bullish candles. EMA also pointing to the upside position.
Counter trend line has been...
The previous bullish trend seems to be a temporary retracement. Market is now back i its normal bearish movement, returning back down to its normal position.
The last 3-4 candle sticks have broken past the counter trend line to indicate that the market is going to keep pulling short.
Projection to hit the 61.80% fib line and to carry on moving down to 78.60%.
I have been watching this pear for a while now, and have noticed a downtrend on the 1M time frame.
The markets keeps hitting the trend line and reversing showing a strong resistance on this trend.
On the 1D time frame the same is happened a downwards trend line has occurred and the price keeps reversing at this resistance.
4H time frame the another lower high...
Daily Chart is showing a bullish engulfing following by 3 white soldiers.
on the 4 hour chart a Morning Star has been formed indicating a bulling trend.
I have set my take profit at the last resistance line formed.
Tested the Parallel trend line, and has now closed back in the parallel zone.
A Three Inside up has also formed alongside this.
At previous point when this Parallel line has been tested it has risen back up within this zone. Forming highers highs!
Monthly market is on a bearish trend, last months candle closing as a hanging man.
Daily charts is currently also showing a hanging man with yesterdays candle being engulfed (bearish) by todays.
on 4 hour chart, a head and shoulders pattern has been formed, along side the EMA crossing over with the EM.
Due to these 3 factors i predict a drop in the market.
On the Daily chart the downtrend is steep with a bearish engulfing!
On the 4 hour chart the downtrend is also equal to the 4 hour.
Previous support shows that the trend should keep dropping till this next support line.
I have been watching this pair for some time now, while it has been consolidating after a bullish trend.
Now that the pair has closed above the rectangle resistance line, it will climb up.
EMA is above the MA also at the time of trade.
At this point in time, the down trend on this pair has formed a Evening Star. Indicating that a reversal is about to occur in the market.
The Moving Averages are facing down support the down trent.
I have placed the Take profit at the next Support line.