A B C D PATTERN - 38.2% RETRACEMENT HIGHER HIGHS AND HIGHER LOWS TREND LINE BOUNCE TARGET: 0.7335
BROKEN OUT OF THE WEDGE ON WEEKLY/DAILY BREAKOUT OF WEEKLY RESISTANCE (NOW SUPPORT) - HAD A RETEST - CONTINUATION OF TREND IS EXPECTED 38.2 FIB RETRACEMENT MORNING STAR FORMATION AT THE SUPPORT STOP LOSS: 1.3085 TARGET 1: 1.33585 TARGET 2: 1.3400
HAMMER CANDLESTICK. FAILED TO BREAK WEEKLY RESISTANCE. 3RD TRENDLINE BOUNCE 61.8% FIB RETRACEMENT
Daily US Dollar Index - Bullish Bias. To determine whether price is trending up or down - is it making higher highs and higher lows (uptrend) or is making lower lows and lower highs (downtrend.) At the start of December, the price of the US dollar started a down trend. It made lower lows (highlighted by orange circles) and lower highs (highlighted by yellow...
After C.T.L break, price retraced to 50% fibonacci level. A hanging man & engulfing candlestick formed hinting a trend continuation to the downside. Most recent candle is a bearish engulfing meaning sentiment is on the short side. Looking back to mid June. The higher low of the previous uptrend and now previous low of the downtrend has shown us a support now...
DAILY... * 38.2% FIBONACCI RETRACEMENT * MA'S TO THE UPSIDE 4HR... * CLEAN BREAK OF COUNTER TREND LINE * MA'S TO CROSS OVER THE THE UPSIDE
* SHOOTING STAR CANDLESTICK FORMATION AT THE WEEKLY RESISTANCE 139.00 * MOVING AVERAGES CROSSED OVER TO THE DOWNSIDE * LATEST CANDLESTICK - BEARISH MARUBOZU - STRONG DOWNWARD PRESSURE * 61.8% FIBONACCI RETRACEMENT. -61.8% TARGET CONFLUENCE WITH MONTHLY SUPP 134.00 TARGET: 134.00
OVER ALL TREND IS BEARISH AS WE HAD A BREAK OF THE LONG TERM ASCENDING TREND LINE. PRICE IS CONSOLIDATING AT THE MOMENT WITHIN A TRIANGLE FORMATION. BIAS ON PRICE GOING DOWN TO CONTINUE THE TREND. WHY I THINK IT'S GOING DOWN IS BECAUSE WE'VE HAD 5 WEEKS WHERE THE PRICE HAS FAILED TO BREAK ABOVE THE WEEKLY RESISTANCE @ 1.312 (HIGHLIGHTED BY BLUE CIRCLES) AND MOVING...
Lots of volitility. Will regain some of it's value back
WEEKLY... * WEEKLY RESISTANCE @ 0.735 BROKEN. NOW TURNED RESISTANCE. NEXT TARGET MONTHLY RESISTANCE @ 0.77 * LARGE BULLISH ENGULFING CANDLESTICK * MOVING AVERAGES STILL TO THE UPSIDE * TWEEZER FORMATION DAILY... * BULLISH ENGULFING CANDLE. - BROKE OUT FROM 11 DAY CONSOLIDATION - BROKE DESCENDING TRENDLINE RESISTANCE - BROKE WEEKLY RESISTANCE NOW TURNED...
WEEKLY... * CREATED NEW HIGHER LOW - HIGHER HIGH EXPECTED * MOVING AVERAGES HAVE CROSSED OVER TO THE UPSIDE * 61.8% RETRACEMENT * BOUNCED OFF ASCENDING CHANNEL SUPPORT * HUGE BULLISH ENGULFING CANDLESTICK DAILY... * MOVING AVERAGES TO CROSS OVER TO THE UPSIDE * HUGE BULLISH ENGULFING CANDLESTICK * 27% FIB TARGET IN CONFLUENCE WITH MONTHLY RESISTANCE...