Important: I use New York close charts so that each 24-hour period closes at 5 pm EST.
Click here to get access to the same charts I use.
We talk about this pair last week , and as I mentioned before , I’m bullish about this pair. Even when it drops below the lower trend-line one of the members of the group send an analysis , and I warn him about fake break outs. If you take a look at weekly chart too, there is a pin bar exactly on a conjunction of supports, and also I have to consider Fibonacci 61.8% line around 1.1200 . On the other hand we have fundamental situation on USD , this is the longest period of time that US economy is expanding in the last century without any stops. So maybe this year put an end to this non-stop growing. On this chart I prefer to see an intraday correction and then continue to go up , it may make continuation pattern on lower time frames. As you can see next technical target is 1.1538 and if it couldn’t break it , that would be a bearish sign to enter shorts.
We are looking at this channel quiet a long time, and enjoying the profits that it make fore us. But it maybe an end, unless it reverse and get back in the channel and make that break a fake one. Sincerely i didn’t expect this one to break the top so soon but next week would give us a clue. i don’t trade these kind of break outs most of the time , and choose the watch and see strategy. Even if it don’t get back to the channel , I highly expect to make a correction around 1.3307.
Here is my favorite pair to trade for this week. a great risk and reward laying on the bed (1:4). As you can see in the chart, 109.92 completely act as a great resistance, and sellers or winning the game . Next Technical stop is 107.55. Nothing more to say about it, just enjoy the ride.
I’m watching this pair a lot these days, and make a lot for me by these heavy downtrends. I’m looking forward to a break below the trend line in the following days.if that happens the first target to make fake breakout is 1.3071 and the second one is 1.2900 and 1.2796 to confirm the break.
A historic Break through the trend line and also psychological resistance 1300$ is finally happening. The first target is 1325.3 area and the second is 1355.51 .
click hear to JOIN my Telegram Channel.
if you want to receive free beginners lessons click here
MUST READ MONEY MANAGEMENT AND INVESTMENT