EU is painting inverse head and shoulder pattern on smaller time frame. CPI data is about to release. keep an eye on 1.1120 level. a breakout above this level will confirm H&S. also, keep an eye on CPI data and open long position based on that.
EUR just broke out of the downtrend channel. it'll likely go up and retest resistance. CPI data is due in about an hour. target will depend on the data that is due to come out. I'm long at 1.10919 will hold this long and wait for CPI data before setting target.
EU was trading in a channel for some time, finally it has decided to break to the downside and continue the bearish trend that EU has long been in. Recent US retail sales data supports this short which means a strong $ against weak EUR. I'm in at 1.11425 let's see...
As highlighted, GBPUSD is painting inverse head and shoulders on smaller timeframe. a break above 1.2060 will give us long signal. right now, I'm watching. DXY is bearish and GU has been making new lows. hopefully, it'll take a breather now and change its trend.
GBPUSD is in a downtrend and is making new lows. It has found support and painted a triangle. the question is; which side will the triangle break out. Based on weak dollar and monthly support that GBP is currently sitting on, it could be the up side but we'll see.
Trade active with a tight SL just below the lower line of the triangle. entry: 1.21450
It's a short. EU rallied and failed badly at huge resistance. it's highlighted by the blue line at the top. it didn't even touch and failed just below it. I've managed to enter at 0.91652, but one can still enter short positions at 0.9130-0.9135 range. downside will be huge.
