2017-05-14
I'm going to stick my neck out on this one, it's been a bad pair for a friend of mine that has consistently not gone his way recently.
On the D1 chart: this has turned after a massive pull back period. Looking at the targets for two sets of Fib we have confluence of 1.1618, 1.181 and previous structure all around the 107.500 mark. Should the down trend continue then we have long term targets at the zone 107.500 to 106.800 with the early future D signalled for completion at 107.287/107.300.
For the H1 chart next target should be 112.972 which is the previous structure high as new support. This pair has consistently called my bluff - it probably will again :(
I'm going to stick my neck out on this one, it's been a bad pair for a friend of mine that has consistently not gone his way recently.
On the D1 chart: this has turned after a massive pull back period. Looking at the targets for two sets of Fib we have confluence of 1.1618, 1.181 and previous structure all around the 107.500 mark. Should the down trend continue then we have long term targets at the zone 107.500 to 106.800 with the early future D signalled for completion at 107.287/107.300.
For the H1 chart next target should be 112.972 which is the previous structure high as new support. This pair has consistently called my bluff - it probably will again :(
Note
And I'd like to add that the rSI is seriously over-bought at the turn, further signalling a strong push by the bears.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.