The pair has made a nice upward trend recently, however it is now consolidating in a descending triangle. keep you eye on this one, if it should break the triangle i would be looking for a short term shorting position to around the 0.382 fib level, this is also pervious resistance turned support.
Please let your thoughts good or bad in the comments...
COTI currently finds itself in a falling triangle which you would assume would mean once broken a move to the downside, there is also evidence of bullish divergence which cannot be ignored. i would expect the descending triangle to play out and if the key resistance level marked in red will hold i would expect a push to a new all time high.
Please let me know...
I know my last CADJPY didn't quite go to plan, i don't see many posts mentioning divergence. i'm seeing a lot of bearish divergence here on the 4h timeframe its also apparent on the weekly timeframe.
This reversal/correction is coming its just a waiting game.
please leave any thoughts and feedback good or bad in the comments
Peace
GT.
I would like to see a test of the 0.382 fib line on the daily chart after making 3 consecutive lower lows. i am bearish on this for the moment. i have not spent a whole lot of time on this chart just a quick overview.
Enjoy, and please leave any thoughts in the comments.
Peace
GT.
The euro has been in a rising trend since July i would expect that it will find support at the recent level of 1.07355 and then find resistance again at around 1.07906, before potentially pushing back into the rising trend.
All the best
T.
