Price has twice tested resistance, but has not fallen far. With a 3rd test of resistance, I am anticipating a bullish breakout to the upside. The ADX is skyhigh showing great strength in this pair, and I would not be surprised to see price reach 0.91 and beyond. The RSI is also not yet overbought, although close.
Price has stalled just above the 38.2% Fib level of the recent upswing, and has posted a bullish daily candle. This candle is a bullish inside bar, and I will be trading this in a classic fashion: buy the break of the mother bar. I would look for a retest of the recent highs firstly, with the 127% Fib extension also of interest should price breakout higher.
Price has tested ATH area. This is an area of resistance, and I fuly expect a reaction at these prices. Due to RR, I will favour a move to the downside, but will be cautious with entry in order to not get caught out with a break out. *Weekly chart used for illustration only NOT entries Supporintg criteria: RSI overbought ADX approaching overbought levels
Price is retesting a previous zone of congestion and support. With a test of the 50EMA, this is the last opportunity for the bears to remain in control. I will be watching intraday for a reversal in the highlighted area. Supporting criteria: RSI Overbought This is not the strongest setup, but in the markets, anything is possible!
A pin bar at the 50% Fib level gave price a little relief, but price action suggests this rally is over, with no bullish follow through in the days that followed. I will look to get short on a break below the pin bar wick, and perhaps a little higher if price action presents an opportunity. Targets would be next support/prev resistance at $49, where there is ...
Price has risen to test a very strong area of resistance. On the Daily chart a breakout looks imminent, but I favour a move to the short-side There is great RR, esp if price tags the 0.77406 highs I will wait for a bearish daily close at these prices before looking to short There is not much indicator-based support to this idea, hence my cautious approach.
A trade I have been stalking for some time. After breaking out of a previous area of consolidation, price has retraced back into this area. I will be looking for shorting opportunities intraday, with a view to a swing trade targeting the 1.230 region. Supporting criteria: RSI overbought ADX approaching extremes 61.8% Fib of dominant downswing has confluence with ...