Hi Justin, I saw this at a time when I was considering a possible short signal in the 1.4950 area. That level is not a very strong resistance, but has held a few times since Dec. The attached 12 hour chart shows what I mean.
Yes, the weekly trend is up, but we could also have double topped at 1.5490 area with price to head to the downside. So this analysis leaves me a bit unsure with bias to the downside. I would love to hear further thoughts from you.
Hi Oasis, if anything I think a short (with confirmation of course) from the 1.5 area would be a better bet. I personally wouldn't want to go short on this pair anytime soon as it's still looking fairly constructive on the daily and weekly charts.
I don't see much reason to go long or short at this point, but this pair continues to produce levels to watch. Now if we break above 1.5 and form a continuation pin bar, that could be interesting!
Enjoy your weekend. Cheers!
Thanks Justin. Yes very constructive on the weekly for sure. Thanks for your quick response. Enjoy the weekend too.
Welcome toForex Social Network
© 2017 Created by FXStreet.
Report an Issue |
Terms of Service
Please check your browser settings or contact your system administrator.