This pair has completed an AB-CD move and is now struggling to get back into a recent upward channel, as noted on the chart. Considering shorts in the area up to 0.75722 on a smaller timeframe. As always: do your own due dilligence and analysis.
UKOIL might be at an crossroads here, and there is also a potential H&S pattern forming. At the moment, i am still lurking in the shadows.
FX:USDCAD broke out of its wedge. The current pullback to the wedge is currently about to confirm the breakout.
FX:EURCHF is at an very important area. After the huge drop in January 2015 it has been slowly climbing back. the 1.2 area has been tested several times recently. There should be a fair chance for a breakout. I have bought 1.970 and 1.980. Consider the position to be stopped out below 1.967.
A drop below the drashed trend line should confirm the short. There is also a potential Head and Shoulders pattern, as well as RSI deivergence. Will update later with target levelsshould the trade trigger.
My expectation is for the current uptrend to continue and test the 151.5x area. I have long positions open from 150.93 and i'm planning to take at least partial profit around 151.50.
I am bullish on this pair. My bets are on one of the two following scenarios: - Yellow scenario: A handle forms in addition to the already existing cup. This could take several days or even weeks. - Blue scenario: We may form a little bull flag and break out of it to the upside I will wait for things to become a bit clearer before putting my chips on the table.