should be looking at some weakness in the dollar this week. looking for HS pattern to emerge (1hr) where I will look to enter short from the levels marked ideally waiting for confirmation.
pulling back into structure support we could see a rejection from the support zone marked in green which should push down to (1305). My bias is to the downside however a break of support would take us back to (1360) level.
surprisingly found some buyers last week on this pair bias still remains to the downside looking to weak dollar this week.
I am expecting a possible breakout trade here of a HS pattern with a retracement to 0.618 alternatively we could get a rejection of the neckline @ 1.7252 which would bring us @ 1.6097. Wait for confirmation and sell.
failure to push past previous level of support followed by what looks to be bear engulfing we are also forming HS pattern break of the neckline would take us to level marked.
lets see how it plays out failed to push past previous high multiple times.
strong resistance area at 1.2900 break of this level would see a return to trend.
has found support at a key level here if a break of this level would bring us down a long way.
Currently in a downward channel. Has failed multiple to push past sell zone although we closed the week with some strong buying pressure (1hr) I'm looking for a re test of this zone. Failure to push past should push down to trendline(black) where I will look to enter for breakout which should continue to push lower.
see how this plays out if it fails to push past 1.28071 should see it fall to 1.26716.
possible playout here starting to form a tight wedge here we could see a break to the upside. Alternatively it could push through support indicating that the channel is still being respected. Buy/Sell Zone is marked see how it plays out.
This is a long shot but possible gartley formation if everything falls into place. Still a possibility to push lower if price fails 1317 - 1315. Alternatively if we see a break of 1319 level we could see it push up to 1322.
currently in a short term correction channel. if it fails at 0.382 we should see some downward movement from there alternatively sell zone would be right around 0.75371.