On the weekly we can clearly see this price has broke a trendline to the downside so overall i thing this pair is going down , and it might continue going down later on but for now :
We see price reacting to a weekly support zone ( not the most major zone but hey ) jul - oct 2016 this is were i see this resistance which becomes now support ofcourse.
On the daily...
so i see this pair moving in a very large range , on the weekly it does not seem to be trending if you ask me.
but on the daily we see a very strong move to the upside so there is some nice momentum. still price didnt make a higher high. Its currently moving back downwards.
I wonder if this pair moves all the way to the downside , or just to this 61.8 of the last...
So we've got this miniature setup that looks excately like a previous setup i was trading.
The market is repreating itself.
So this head and shoulders just gave us our first wave to the upside , and we got this nice pullback to the neckline which was in line with our fibs and trendline.
The trend is still going strong and its still making higher highs and higher...
So this pair is nearby a trendline on the weekly chart this also comes together with a zone of support. we might see some bullish movement the next weeks.
eurusd has been in this bearish channel for quite some time. Im expecting the market to go to a monthly support zone as the markets manouvre between these large timeframe support and resistance zones.
So on the 4H we see this channel , eurusd looks a bit choppy to me but i'd say the overall momevent is to the downside and it will continue for a while
So lets start on the weekly and see our overal direction of the trend. Lets check out where price is and where price is going.
We can see this pair going down for a while now. but it found support and it broke some major support zones. We can also clearly see a W formation.
I am looking at the linechart to make things more clearly.
The W formation is a...
after a head and shoulders pattern we see the market reverse to the upside. now after a bullish move we see like a rectangle patten , a sideways movement.
now this broke to the downside , i am expecting a pullback before the continuation to the upside.
after a big bullish move from a monthly zone of support we see this trend slowing down and losing momentum. it failed to make a clear higher high and it broke its trendline.
now what i am expecting is a pullback before the uptrend continues.
lets see where this pair will come down to and wait with patience.
Lets see if this pair will break support and create a lower low which will define our downtrend. It already failed to make a higher high and it broke a trendline.
We might get to sell the pullback with low risk with our stops above the support/resistance.
just now
We've got this nice cypher pattern on audchf , whichs has been hearish for a while now.
We see a head & shoulders pattern with wicks on the daily. Also some nice divergence around point D.
now lets wait for a break and retest of the necklin
