Elliot_Myers

Elliot_Myers

Trend Continuation. The week ended on an exhausted bullish candle after heavy selling pressure at the 61.8% zone - we await a re-test of this zone (yellow box) for a short entry and a continuation of bearish structure. Trade with care.

Elliot_Myers

Trend Continuation. Price action is nearing prior resistance in confluence with the 61.8% Fibonacci, the yellow box highlights the entry zone where by short positions can be taken to ride price back down to prior lows and a return to structure. Trade with care.

Elliot_Myers

Trend Continuation. Price action is in a bullish trend and approaching another re-test of support - there are two levels of support where by we can seek a long entry and resumption of bullish structure, Entry zones are highlighted by the yellow boxes with the target a re-test of previous highs. Trade with care.

Elliot_Myers

Trend Continuation. Pair near certain to test the monthly support at 105.627 - we are seeking a short term upwards correction to enter on exhausted buying.

Elliot_Myers

Trend Continuation. Sterling is heavily driven by polling on Brexit with the exit camp taking a 4 point lead in the latest polling over the weekend. We expect sterling to fall on diminishing prospects for the remain vote. Failure to capitalise on poor pay rolls and a close below key weekly resistance are confirmation factors in our bearish view on the pair.

Elliot_Myers

Trend Continuation. Last week saw a complete 61.8% fib retracement into a strong bullish candle. We anticipate a correction to either of the yellow zone levels identified and await exhausted selling to take long positions up to the key monthly resistance at 1.14956 where profits can be taken and a new position taken.

Elliot_Myers

Trend Continuation. Price has become stuck at the key $50 mark - potential here for a short term decline into an upwards correction. We remain bullish and expect a breach of the $50 in the near term.

Elliot_Myers

Trend continuation. Price can either move up right away or retrace before resuming upwards - We feel this trade is safer on a retracement into the yellow box at which point we will look for exhausted selling for a buy entry. Given price is in a general down trend we acknowledge that at the 61.8% fib level it is time to seek a short position and close out long positions.

Elliot_Myers

Monday saw a bearish close on a failed re-test of the daily trend line. Previous price action rebound off of this line have led to deep corrections and scope for a re-test of lows at 105.579 are possible based on previous corrective structure.

Elliot_Myers

Double re-test of the 50% fib with failed breaks and an exhausted wick on Friday's candle suggest downside potential and a test of the next weekly support (blue line). Price action can either head down for a test or correct back towards 1.13 before correcting downwards.

Elliot_Myers

Daily trend line resisted a move to the upside and Friday's candle is very bearish - price action is in a wider bearish move adding weight to further downside potential. As price has broken one weekly resistance (blue line) expect a test of another weekly level (arrow). Upside potential remains with pricing in a short term up-trend, potential correction Monday...

Elliot_Myers

Downside trend line held on a 3rd test and established confluence with the 76.40% fib level - Friday's candle suggests buyers are exhausted at current pricing and downside potential has increased. Re-test of the 50% fib price zone likely.

Elliot_Myers

Price has entered the range (green lines) with bears and bulls exhausted at both extremes. Wait on a break of either side for entry opportunities. Current bias is to the downside as price has re-bounded off of the 61.80% fib level and looks set to re-test the lower range boundary at 108.224. Good luck traders!

Elliot_Myers

Bias = short. Waiting for a correction into previous structure (yellow) to go short. Or Buying / selling on arrow levels- buy at 1.43014 and sell around 1.44125. Wider arrows are TP targets. Watch for potential long opportunities at 1.43014 as there could be correction at this level (weekly support). Good luck traders!

Elliot_Myers

Buying at the green arrow and taking profit at the red. Or Waiting for price to head into previous structure (yellow box) and selling at an opportune time. Good luck traders!

Elliot_Myers

Awaiting a pull back and an exhausted bull candle to trigger a sell. It isn't clear if price will simply continue down or pull back to allow an ideal entry however keep an eye out as price approaches the 50% fib as it's likely traders will liquidate short positions which will allow for a pull back and re-entry to the downside. Brexit fears and what I expect will...

Elliot_Myers

Price action is currently in previous structure (blue box) on approach to test the 61.8 and 76.4 fib levels where a correction is still possible. Both blue boxes which indicate past structure align with the key fib retracement levels for an entry long. Price action breaking these levels indicates a clean short entry down to 1.12151 and then onto the next weekly...

Elliot_Myers

The par has tested and failed t break the 61.8% fib level and the engulfing daily close opens the door for future gains and a correction back towards the up-trend structure. Initial target is t monthly resistance at 0.79384