EURUSD July 12th AnalysisPrice currently at bottom of monthly zone. Weekly sellers exhaustion. Creating a reversal pattern on 4H. Also Bullish divergence on 4H. Expecting price to break out of pattern and reach TP 1 and TP 2.
Monthlyzone
shorting the EURUSD 1M timeframepatiently wait till price hits the 38.2% level where it meets the trend line then short sell.
FORD BUY Ford was oversold off the grey MONTHLY zone and will retrace back to the reddish INTRADAY Zone I mapped out for a short countertrend gain.
GBPUSD DAILYOverall still in a downtrend, had to refer all the way back to the monthly chart. Price broke out of channel just to retest broken monthly level (1.36500) then quickly went back down. False breakout of channel, now price came back within & is still headed back down. We should see some downside momentum ahead of us, & a weekly pin bar is also rejecting strong resistance level. Could see a potential long term short with Lower lows & lower highs forming, will open 2 positions & leave one running for a long time! Some times you have to look back to the monthly chart just to get some key information!
Trade with care! : )
