Price is now testing resistance neckline of the head & shoulders pattern, creating a (lower high), Will price make its to 91 to create a lower low?!
Price is rejecting at a strong level of support, & I believe there will be a rebound in the dollar for some time before a potential continuation down to 91 weekly support.
Price made a double top at daily resistance, & price is forming a bearish flag pattern after breaking its uptrend now making lower lows & lower highs.. Lower high complete, now looking for another potential lower low : ) Lets see if we can get a completion of the head on shoulders pattern!
Looks like price broke out of its bearish channel with a bullish engulfing candle, now we could see some more potential upside price action to complete the bigger picture Head on shoulders pattern where we could get a strong move to the downside from that point..
Price breaking below its head & shoulders neckline, a daily close below will send this pair to the 91.30 ish area ...
Price has entered a small range of consolidation, but overall the daily head & shoulders seems to be playing out well. 50 MA crossed over the 200 SMA, & The 20 MA is under the 50 MA showing a very bearish sign.. I am expecting a strong breakout of consolidation soon moving price further to the downside. Its all about waiting now !
Price broke under daily support with a bearish engulfing candle & now price is underneath its uptrend line.. Watch for a close for a bearish signal, price is now in a range of support and resistance & could consolidate for some time completing its right shoulder to finish off the Head on shoulders pattern it looks to be creating. After the recent bitcoin scandal...
Short after the break & retest of support turning resistance.. Price is in an overall daily downtrend making lower lows & highs. Lower high has been made, its possible that a continuation to the downside is to come..
There is a head and shoulders pattern at the top here. A Break to the lower level of the right shoulder also followed by a rounded topping and now two clear channel top and double bottoms. Based on fib from the original fib breakout in the beginning of november I see a correction to around 12000...
Potential inverse head on shoulders pattern rejecting daily support around 0.87500-0.88000. Looks ready for potential buy opportunities
Head on shoulders pattern completed, as long as price stays under monthly resistance & closes below a long term short should take place..
Such mixed signals on this pair right now it is very irritating lol.. More confirmation needed to take this pair i will keep a tough eye on this pair for a better sense of direction. Whats your view?! :)
Price broke back above head & shoulders neckline, & broke out of downtrend channel.. Failed to break daily support & the bulls have kicked back in. Dollar broke its uptrend line (DXY) & is pointing to the downside.. Important inflation news on USD tomorrow something to watch, these next news events will determine if there will be a rate hike next month still or...
Potential entry at 61.8 retracement level / Daily downtrend line to go short. Id watch for a bearish engulfing candle to this level for extra confirmation or a break of the counter trend line to short this pair as price has built up some good bullish momentum these past couple of days.. A break above prices downtrend line will invalidate the downtrend. Patience is key!
Price still is in a downtrend & is under daily resistance / Daily Head & shoulders neckline.. We should see a short coming this upcoming week. Price retested broken 4 hour channel from last week, & looks to be rejecting the 38.2 fib level acting as a resistance. Watching how price opens tomorrow afternoon :)
Price broke its counter trend line after bouncing off its daily uptrend line where I took profit on my short. Now looks like we have a nice long opportunity I am looking for a right shoulder to be formed at the retest of the broken CTL to create a inverse Head on shoulders pattern. This pair should take off during London session!
Last week, BOE gave us a perfect retest of broken weekly trend line, & bounced off the 61.8 level. Price closed above resistance I will go to the lower time frames to look for an entry. AUD RBA Rate statement shortly I am anticipating a weaker Aussie lets see how that helps this setup go into play..
Reversal bar to strong resistance, showing that more downside is expected. First target around 1.66500 area & if we can break that daily uptrend line I believe price will head to the weekly uptrend line..