Very rare occasion where an AB-CD pattern is directly attached to a 5-0 pattern. Both patterns show strong bullish trend, but might also show a potential reversal. At least a retracement will certainly occur. 3 targets.
MIssed this nice shark, already hitting T1 and on the way to T2. Should reach T2 on 61.8 before Christmas and than shoot up again.
The historical all time high was 153,84 back in Dec. 1979. So the misleading all time high announced this year at 109 provided traders the idea of a soon pullback, which, unfortunately, did not happen at all. Instead the PA shoot up. The Price is now very, very near the Aug. 1990. high at 115,7 and the price area around 116 should provide somehow resistance. Much...
Shoot for T1, than T2, if PA closes above C, hunt extended targets and trail SL
We could see a similar pattern like the last EU rally on today NFP.
If the PA manages to overcome 3 hurdles there are 3 bearish patterns possible. RSI divergence. Each pattern has its own PRZ marked where trend continuation may occur. React upon PA since the range of completion of each pattern is significant.
GBPNZD trades in a channel with strong support. If PA breaks through support a nice short move ahead.
Yesterday the US data triggered the bat and PA hit both targets on the way up. Now a butterfly is in play.
EA broke through significant resistance at 1.5. The lower than expected AUS GDP weakens AUD even more. The economic measures didn't provide any improvement and RBA not cutting rates drowns aussi.
Deep gartley, oversold on D, H4, H1 and even M15, time to buy nuggets :)
Trend continuation with possible 2618 as larger move down and bullish gartley as shorter move down before upward continuation. "The inflation in EU speeds up, if the ECB announces a FLS-like LTRO, it could prove supportive for the Euro. In that case, Euro weakness might be short-lived" - Christopher Vecchio.
Since the PA shot above previous high and closed above forming a new HH we have to wait and see if the previous swing high will hold. If not and the PA goes up expected stop at 1.08 and correction down.