We can see a formation of a head and shoulder pattern which could lead to selling momentum. If the setup fails, we will look out for what price does on the next sone of resistance where we might likely see a double top fromation.
Dxy is still heavily bearish could possibly continue you down or retake higher this week and drop lower but we are looking for bearish on dxy and bullish on foreign currencies!!!
Has strong news are coming out I wouldn’t like to go against the trend but if I’m seeing signs of weak dollar I’m look at the level with the eye for my target. For now wait and stay safe
Trendline break and retest on the lower time frames, testing trading 1pm - 3pm roughly with this pair. Currently tapped 78.6 retracement from the huge dump during Asia session, may have just missed the entry though H&S maybe. $ is going down regardless at some point S&P 500 has a similar set up aswell: Not trading with the election so soon owt could happen.
Bitcoin plz go 2 moon, stop going sideways now
hehehee just wait
- 1hr: 1.1177 couldnt hold as resistance and broke above it. What is likely to happen now is that price will now test zone as support & because EU on higher time-frame is bullish we could see price reach 1.1280 resistance from here. Extra confirmation of bullish presence is an inverse Head & shoulder pattern signalling a reversal.
On the daily chart of USDPLN, the price has started a new downtrend. We expect the price to go lower within the fifth Elliott wave of down period.
A few weeks ago we wrote this article - - highlighting that after the breakout of the symmetrical triangle and the support at the beginning of the month a retest of the 1200.00 level as resistance would create opportunity to go short. Well, here it is Ladies and Gentleman! Sure enough we are currently seeing a successful retest of the 1200.00 level as resistance...