The safe havens such as the Euro/ Yen and Gold have come into play early 2016 and this looks to continue as we enter a bear market on indices.
The Euro has been doing well and looks to continue. A potential H&S patter has formed on the 4HR chart and with a relatively straight neckline, I will place pending buy orders when price breaks this line as confirmation to resume a target of a missed pivot.
Coincidentally, back in Nov 15, there was a Weekly / Monthly Pivot at roughly the same price (Usually a good target area for either S/R) which I favor as my profit taking. This would imply the EURUSD would be rallying back up to 1.113 area.
For more information, setups and education please sign up to my website, whereby I will be releasing some new content early this year! www.ejfxtrading.com
The Euro has been doing well and looks to continue. A potential H&S patter has formed on the 4HR chart and with a relatively straight neckline, I will place pending buy orders when price breaks this line as confirmation to resume a target of a missed pivot.
Coincidentally, back in Nov 15, there was a Weekly / Monthly Pivot at roughly the same price (Usually a good target area for either S/R) which I favor as my profit taking. This would imply the EURUSD would be rallying back up to 1.113 area.
For more information, setups and education please sign up to my website, whereby I will be releasing some new content early this year! www.ejfxtrading.com
