we finally broke out of the consolidation zone and tested 120. found support on 18ema and key monthly level.
I do strongly think at some point this year we will see a huge decline in EJ and i will be mainly bearish on this pair moving forward.
I will be looking for shorts to 118's firstly then will wait to see if we break and rest the weekly trend line.
i was short on this pair thursday/friday but closed at market close to start a fresh week. in hindsight i think i should have left 50% of the trade on, will be looking to short the pullbacks all the way down o 1.2800.
i have been monitoring this pair since january and looking for 1.2800 since then
If we can break above 0.7525 then i may well be looking for pullback to around 0.7400 before going long, first target would be 0.7575 then looking for target 2 at 0.7750.
i spotted a potential fib on the weekly with the MA's looking to cross to the upside, and with the dailys already up i will be monitoring this closely.
standing aside for now but one to bear in mind
I was monitoring this last week looking for a potential reversal to go long to 1.3700, but would be monitoring closely around the 1.3590's as there is strong support there but i am inspecting a new higher high there if even by only a few pips.
strong previous resistance around the 78.6% fib level which was a former resistance.
on the 8H charts this level has been...
i was watching this pair last week and will bu looking to possibly go long to 1.3700.
i feel cad may be stalling and looking to go lower however i feel we may touch 1.3700 first or at least maybe climb above the previous higher high by even a few pips.
we found support around 1.3190 so i will be monitoring price action and awaiting a breakout before entry.