Pair is moving in the direction ⬆️ and has a decent breakout recently. We expect further upward movement.
As the pair moved from 155 to the highs, we have seen it followed bookish definition of Upward Trend i.e Higher highs and higher lows. The last low formed is at 160.30 and therefore a level to be watched. If the level is broken marked by red horizontal line, we will see initial signs of trend reversal on smaller time frames. Important Note: Also we are...
The pattern developing at the top suggesting slowdown in absolute bullish momentum. If the rising channel is broken then on retest we may see a sell side entry with good RR ratio. On the watchlist for now.
The pair is an extended rally however the levels at which it holding back for last 4 sessions in 2005-2006 highs. On 4 HR timeframes, pair started consolidation and break out on lower side will further open ways for deeper correction till 95.50. Double top formation expected on higher time frames.
]EURUSD is moving in the long term channel as shown. In short run possiblity of touching the upper line of channel citing to a bull flag formation on weekly charts. These are long term chart patterns and can br used in coordination with STF charts to look for trading opportunities. Good Luck
Even though trend is bullish but these levels are not ordinary levels. Last timei n April of this year, we saw 5% drop in this pair due to BOJ intervention. In these levels however we are taking a small sell position with 1:5 RR in sight. Let's see how it rolls.
Pair is making an inverse Head & Shoulder on weekly chart. Further consolidation on daily chart near trend line and last high making high grounds for an upward move.