Here is another view. After the break of the RT channels while in this triangle, there has been deep selling down to one of the daily Fib Ext levels.
Shame that yesterday I don't bet on the Euro rise... I am thinking with my bottons that possible EurUsd can test again the 1.2300, what you think?
Hello. Here is a pic I posted on another thread earlier. I should face resistance when it's the the 50 sma which is on black.
Here is the 60 min look. The ADX is now above 25 which is a good sign. But it's now hitting the 50 sma on the 4hr. This could go back down and hit the daily up trend line first before it turns up again. And how did you get your pic to show on the page? Thanks.
Thanks Cruiser13, So you also believe that can be possible see the EurUsd at 1.2300... Nice charting that you are doing and welcome to this topic that I create to we all discuss forex... Now is time to sleep... Nice trades!
Hello VitoriaSC. Here is what I see going into the London opening. A pic of the daily chart shows that a head and shoulders formation has been formed and price is heading up in two channels.
But price on the 60 min has created a flag and needs more strength to continue it's upward track. Otherwise it will continue to go down along the angle show by the red line. These are showing how price is acting while in this channel. I think there's a lot resistance in either direction right now since this and all the crosses are nearing the end of their long term consolodation. I think which ever way it decides to go is going to create a alot of profitable moves though. Thanks.
Hello. Just got up and checked my charts and found that the Eur had finished this third leg down exactly where I thought it would. Now it' getting a bump up and It could have a more sustained upside today. Let's see how the other pairs also act today. bye.