On the weekly, we are flirting around s/r / 1.80 level
Of the most recent bullish swing, we have held at the 50% retrace and would like price action to break back up above the 1.80 level for continuation up towards1.9-2.0
Daily Chart
We are trading in a descending Chanel , however with the fib expansions of the high to low swing , we have hit the FE100 level which also has a confluence of a ascending trend line
We have some strong resistance where we have a 38.2 and 50 overlapping fib at 1.830
below that we have the monthly pivot and the descending channel line
Hourly Chart
We need a clear break above 1.830 before any long position
Outlook Trade opportunity
We need a clear break above 1.830 before any long position
Risk Level Medium
Tips -
Always take note of any economical news event on our provided calender below
After the Hammer formation candle, as expected we saw last week have some bullish momentum
Daily Chart
We saw continued bullish momentum last week , however past few days we are seeing seeing doji's / indecision from price action
Having said that, yesterdays doji's body did actually close above minor resistance which should now become support however next resistance is near, so i expect some sort of rejection back towards the pink zone support before taking another leg up
Hourly Chart
Broke through resistance, and looking on towards testing the next resistance
Outlook Trade opportunity
Long preferred
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
