PRICE HAS REACHED KEY SUPPORT AT THE END OF LAST WEEK, WILL WAIT FOR THIS WEEKS OPEN TO SEE IF A TRADE IS AVAILABLE. COULD GO EITHER WAY HOWEVER I AM LEANING TOWARDS A LONG DUE TO DOLLAR STRENGTH.
PRICE ACTION HAS REACHED AN INTERESTING AREA OF RESISTANCE AROUND 1.0224. THE BULLS SEEM TO HAVE LOST MOMENTUM. WILL WAIT FOR THIS CANDLE TO CLOSE BEFORE ENTERING A TRADE, I FEEL A SHORT TARGETING 1.005 IS MORE LIKELY.
PRICE ACTION HAS BROKEN OUT OF THE TIGHT RANGE OF THE LAST 8-9 DAYS TO THE DOWNSIDE. WILL LOOK TO GET INTO A SHORT POSITION TARGETING AROUND 0.7013. THIS FOLLOWS THE LARGER BEAR TREND. FRIDAYS EUROGROUP GREECE DECISION LOOMS OVER THE EURO.
FURTHER FROM MY PREVIOUS POST PRICE ACTION HAS REACHED THE DESCENDING TREND LINE ON THE DAILY CHART, ALTHOUGH THIS FORMS A HIGHER HIGH IN THE BEAR TREND OF THE LAST FEW WEEKS MY BIAS IS TOWARDS A SHORT (IN KEEPING WITH A BULLISH DOLLAR) I WILL BE LOOKING FOR A LIKELY REVERSAL AND A SHORT TRADE TARGETING THE SUPPORT AT THE 211 AREA.
PRICE ACTION HAS REACHED ONCE MORE RESISTANCE AT THE 92.96 AREA, I WILL BE LOOKING FOR EITHER LONG OR SHORT DEPENDING OF WHAT HAPPENS AND WHAT SIGNAL IS PRODUCED.
EURCHF HAS BEEN FOLLOWING A DESCENDING TREND LINE SINCE THE 6TH OF APRIL WHICH IS NOW COMING TO A HEAD, SUPPORT HAS BEEN FOUND AT 1.0233 WITH MULTIPLE DOJI'S FORMING SHOWING GREAT INDECISION. IT COMES AS WE REACH THE 50% LEVEL OF THE JAN 15TH (SNB BOMBSHELL) TO 20TH FEB RECOVERY ATTEMPT. i WOULD EXPECT A BREAK BELOW TO HAPPEN AND AN OPPORTUNITY FOR A SHORT. BUT...
PRICE ACTION BROKE THE SUPPORT OF THE RANGE AND COULD NOW BE HEADING FOR A RETEST OF THAT LEVEL TO FORM RESISTANCE FOR A POSSILE SHORTING OPPORTUNITY TOWARDS 1.1950 AREA, HOWEVER IT DOES GO AGAINST THE GENERAL BIAS OF A BULLISH DOLLAR, THAT SAID FURTHER BULLISH ACTION FOR WTI OIL COULD HELP THIS TRADE BECOME FEASIBLE
A SERIES OF LOWER HIGHS AND LOWER LOWS SINCE MID MARCH, FOLLOWING A DESCENDING TREND LINE. AN ACCEPTABLE TRADE WOULD BE TO WAIT FOR PRICE ACTION TO BOUNCE ONCE MORE FROM THE DESCENDING TREND LINE OR TO BREAK AND CLOSE THE OTHER SIDE OF SUPPORT AT AROUND 211.30. TARGET WOULD BE THE LOWS OF JANUARY AT 168.87. STOPS WOULD BE THE OTHER SIDE OF THE SUPPORT TURNED...
WAITING FOR A BREAK OF THE SUPPORT AT THE 0.7166 AREA FOR A POTENTIAL SHORT TRADE DOWN TO THE LOWS OF 0.7039. WHICH WOULD CONTINUE THE OVER ALL BEAR TREND.
LOWER TREND LINE UNDER PRESSURE AGAIN, WILL IT HOLD? A CLOSE BELOW AND A LOWER LOW THAN 1.90342 WOULD CONFIRM A SHORT FOR ME, IF NOT WILL WAIT FOR PRICE ACTION TO GIVE ME AN ENTRY FOR A REBOUND LNG WITH A SL JUST UNDER THE PRICE JUST MENTIONED.
THE DOWNWARD TREND LINE FROM THE 6TH OF APRIL ON THE 4H CHART, (THIS IN A BEARISH TREND ON THE DAILY CHART) IT ALSO COINCIDES WITH A FAILURE TO CLOSE A 4H CANDLE ABOVE THE 38.2 FIBONACCI LEVEL OF THE 6TH APRIL TO 14TH APRIL BEAR MOVE. I WILL BE WATCHING PRICE ACTION FOR A POSSIBLE SHORT TRADE.
PRICE ACTION IS ONCE AGAIN HEADING TOWARDS THE $54 MAJOR AREA OF RESISTANCE THIS YEAR. ALL ATTEMPTS SO FAR BY THE BULLS THE BREAK IT HAVE FAILED. WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE. ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE...
PRICE ACTION SHOWS STRONG BEARISH D1 CANDLE AT SUPPORT OF 0.74492, A DECISIVE CLOSE BELOW WOULD OPEN UP THE OPPORTUNITY OF A SHORT AFTER A RETEST TARGETING THE YEARLY LOW OF 0.7161. THIS MARRIES UP WITH OVERALL STRONG DOLLAR SENTIMENT.
PRICE ACTION HAS REACHED THE CONVERGENCE POINT OF AN ASCENDING AND DESCENDING TRENDLINE RESISTANCE AROUND 1.8377, LOOKING FOR EITHER A DECISIVE DAILY CLOSE BELOW AND RESUMPTION OF THE DOWN TREND, OR A STRONG REVERSAL SIGNAL FOR A POSSIBLE LONG. NOTE: SLIGHT DIVERGENCE ON THE DAILY RSI.
A DECISIVE BREAK OF KEY SUPPORT TO CREATE A NEW YEARLY LOW. WILL WAIT FOR A RETEST OF THE RESISTANCE AT AROUND 1.3385 TO ENTER A SHORT AND CONTINUE THE BEAR TREND.