A weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around ...
Confluences 1. KEY Weekly Resistance/Support at 1.4210 holding well. 2. Doji Formation on yesterdays candlesticK 3.Follwing Recent Price Action this is a classic pullback trade 4.KEY DESCENDING TREND LINE HOLDS 5. FIBO 23.6% retracement also acts as resistance here...
Personally i dont like to short the EURUSD - because of what Draghi says ! But here is the Set Up...
Ghartly Pattern setting and News is also on its way lets see what Happens
Potential Bearish Cypher On Cadjpy We also got bat on daily lets wait for confirmation for a short tp