Today, price broke structure to the downside, closed lower, now this pair is fully bearish, because it has finally broken out of the long consolidation. Wait for retest, enter short on retest if it meets your trading plan. Also an equal measured move, abcd pattern.
According to the charts, this week we can see the dollar test the highs of last week, indicated by the purple arrow, this can help with your correlation to other USD pairs. Trade according to your plan.
PRICE HAS BEEN IN AN UPTREND, PRICE HAS PUT IN A CORRECTIVE MOVE, NOT BREAKING PREVIOUS RETRACEMENT, IF MARKET OPENS AND PRICE STILL BOUNCES OFF THIS LEVEL, PRICE MAY MOVE IN ORDER OF THE PURPLE ARROWS, IF IT BREAKS SUPPORT, STRUCTURE WILL CHANGE AND WE CAN LOOK FOR SHORTS TO THE DOWNSIDE
ON the daily price broke a strong resistance , and closed higher. On the retest of support turned resistance, look for buying opportunities with target ones and twos as shown. Trade if it meets your plan
AFTER THE PREVIOUS BULLISH RALLY, PRICE HAS BROKEN OUT OF THE RANGE FOR A CORRECTIVE MOVE. IF PRICES COMES BACK TO THE PREVIOUS STRUCTURE OF SUPPORT, WE COULD WATCH FOR BUYING PRESSURE TO BUY UP TO TEST PREVIOUS STRUCTURE HIGHS
OVERALL THE PAIR IS STILL BULLISH, TILL IT BREAKS THIS UPWARD CHANNEL. IF IT BREAKS THIS CHANNELS PRICE COULD FOLLOW THE RED ARROWIN MOVEMENTS, IF IT BOUNCES , WE COULD SEE A RETEST OF PREVIOUS HIGHS AS MARKED WITH THE PURPLE ARROWS
After a bullish rally, last week price put in an ABC correction. This week we could see a bounce from support to test previous highs at 1.34000 level. Price also gave a higher close which indicates a continuation of the bullish trend.
