Price action on the last close shows a Bullish engulfing candle which is one confirmation that the market has strong momentum and swing towards the upside. Confluence on the head and shoulder pattern which indicates a long position. Looking to go long on this one! FX:EURUSD
A break in upwards momentum being seen as lower lows are posted. General trend direction is downside coming off a 61.8 Fibo retracement. Will be watching this for a downside movement.
Price has hit a key 423.6 resistant Fibo level which I believe will push lower to the horizontal resistance turn support at the level 1.75294. RSI is trending lower at a high overbought level and along with Stock trending down. Price may be pressured downwards to the key horizontal level. Confirmation on H4 shows downward pressure.
Price has hit 423.6 fibo resistant level and also RSI is coming down from a high overbought position in line with Stoch. I believe that it will push down to the horizontal resist now turn support at the 1.75294 level. Further confirmation in 4H chart shows it to be on a downward pressure.
Price has just hit a pivotal level S3 and also a significant trend line. Stoch is below and RSI is way oversold which further indicates the significant level. I'm looking to go long on this.
This pair is on a downtrend and it has just hit a horizontal significant level at 137.663. Either a slight bounce up to the previous high, however a triangle formation indicates that it might break lower past the significant level. RSI looks to be on a downtrend towards the 30.
Momentum Breakout level on the 1.9800 level where there are 3 touches to the point. Good opportunity to buy when breakout happens. Bullish trend and also the pounds push back from the start of the week.