EUR.USD - Technical Breakdown

Updated

The EUR.USD is one pair on my watchlist into next week.

We have now seen price run into a strong resistance and psychological level at 1.0750 which dates back to 2015.

If we see a break and retest of 1.0750 i will be looking for opportunities to take this pair long back into trendline resistance dating back to 03.05.2016

If we see a strong reversal signal on the Daily & 4hr TF i will be looking to take this pair short looking to retest 1.0550

I will be updating this pair throughout the week.

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Monthly pattern outlook.

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A break and close above 1.0795 will be hugely significant.

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Although we have seen a strong bullish moving pre London, we are now starting to form bearish RSI divergence.

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4hr H&S formation

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Pending order now in place.

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Breakout has occurred, depending on market close we will be looking to take this pair long this week.

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Daily Pattern outlook.

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A perfect break and retest of 1.0750, i will be looking to take this pair long into this evening.

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Buy stop order now in place.

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Could this be the breakout we are looking for?
Or a false breakout / bull trap.

Our pending orders are still in place to take this pair long.

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Trade now live.

Trade closed: target reached

Target attained.

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Updated chart setup on the 4hr and Daily TF's

UnknownUnicorn180388

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