The pair has broken the trend line and it seem to me the retest already took place. Watching strong close below 0.76300 to go lower.
First target - 0.75000
Being ranging for couple of weeks and squeezed in the triangle the price has finally showed us where it wants to go. We've had a massive break above the triangle and now retracing/retesting the level as resistance. So many confluences on the higher time frames showing the bullish bias and it's a perfect opportunity to be with the trend! So according to the rules...
Waiting for the break retest continuation of the CTL on 4H timeframe.
Confluences:
- LHs and LLs
- Off the 50% FIB
- EMAs heading South
- Price is moving in descending channel
On the Weekly we can see the strong bearish bias with the large red candles all over the place. After the price has formed Bearish Engulfing on the 61.8% FIB it then made LH and came all the way down to the Monthly support level. Was a false breakout of the support when the price came back to retest the prior LH. The level 0.79370 is a very strong resistance as we...
They say that the technical side of the market is already has the information about upcoming news. That's why maybe all the technical analysts are not diving too deep into the fundamentals. I guess it's happening because of relatively same type of the news coming out every month which is why people have same reaction on them. So doing technicals we can just check...
Waiting for the break - retest - continuation on H4 to go short.
Reason to enter:
- price broke below the monthly support lvl
- EMAs heading South
- the price broke the TL
TP - 1.2500
Nice "Evening star" pattern formed on the Monthly resistance, in line with FIB 61.8 made lower high. As the rule of the trend we're about to see new lower low which I'm expecting to be at 1.42250 (confluence with weekly support and -0.27 FIB). Entering on the bearish close below the CTL on 4H.
The pair has bounced off the deep correction lvl 78.6 FIB. As we can see it's resting now on the Monthly lvl of support and has broken CTL as well. On my opinion the pair has made new higher low and ready to go all the way up to 1.4600 min.
Pair is showing us some weekness. On the bigger picture the trend is down, the price bounced off weekly 50% FIB. It has broken CTL now I'm waiting for price to take out the newly made swing low and continue the downside move down to 0.7500
Pair made lower high bounced off the resistance lvl and 61.8 FIB and formed bearish engulfing on it. Will take the previous lows out around 0.63800 lvl and make the new ones on the confluence of monthly support and FIB - 0.27 (0.62500).
