UnknownUnicorn307341

UnknownUnicorn307341

Looking very bearish for the week ahead. Just retesting neckline support of a strong head and shoulders formation. Also recently bounced back of trend line at a 61% fib retrace.

UnknownUnicorn307341

Analysing EUR/GBP on a monthly chart it is in a down trend. Having just hit the top of the trend line, this is also a 61% fib retrace from points ABC. You could now expect a continuation to my targets of T1= 0.69167 and if we manage to get beyond this we could be looking at T2= 0.64303.

UnknownUnicorn307341

EUR/JPY is in a downward parallel trend. After a recent bounce of this parallel trend line it has retraced 61% and held strong. My target for this pair would be 12039.1

UnknownUnicorn307341

Waiting on a break of this triangle for any clear direction of the trend.

UnknownUnicorn307341

looking for that new lower low I'm short on this.

UnknownUnicorn307341

Liking the look of a short on the USD/JPY.

UnknownUnicorn307341

Waiting for a long position on this trade

UnknownUnicorn307341

Looking at a short on EUR/GBP. -61% RETARCEMENT -HEAD AND SHOULDERS -LOWER HIGH First target off (0.78502)

UnknownUnicorn307341

By breaking down the EUR/GBP charts I have come to a decision that it is looking very bearish for the week ahead. -Pulled back into the downwards parallel trough, and currently retesting. (could possibly say shooting star candle stick?). -It has also just completed a 61% fib retracement which could have set off the false breakout from the parallels.

UnknownUnicorn307341

Waiting for a solid break on the 1hr time frame to go in for a trade in either direction. This week it has managed to pull itself into my main parallel trend again. Now looking for a break of the two trend lines that have been set in place to determine direction. It is also currently at 61% fib retracement and double top. So currently looking bearish.

UnknownUnicorn307341 Updated 

I believe that we are looking at a bearish trend. The spinning tops at the top of the parallel channel suggest a change in direction. This is also the 61.8% retrace from the fib ABC formation. We are currently sitting on a weekly resistance point so If we can get a close below the green rectangle I will be placing a trade. Target one will be -27 of the fib...

UnknownUnicorn307341

Until I can see what is happening with the next candlestick on Monday I can't make a certain judgement. Looking quite nice for a long trade at the moment as long as it can hold the lower boundaries of the trend line. Will probably be looking for a break above the green weekly resistance area to take the trade or a positive candlestick formations.

UnknownUnicorn307341

On the whole I'm shorting this currency pair. Hit the Fibonacci 61% retrace in June 2015from back in and currently looking at reaching the first extension level of 1.272 (119.931). This also corresponds because the resistance is almost the same point as our first target level. Furthermore to back this up is that its currently following a parralel channel formation.

UnknownUnicorn307341

We are currently in a downward parallel channel which has recently bounced of the top of this channel leaving a Doji candlestick. So my main bias for this pair would be a short. My next trade enter would be if on the daily charts if it could break the green rectangle of consolidation. With my first target being 1.38090. However if it does not manage to get...