Monthly
As per my previous trade - although it hit my stop, I still maintain a bearish outlook for this pair. The last 2 months have spiked and rejected 150.00 and this month we are seeing the same. The EMAs are ever closer to crossing over - I feel we might be able to see this by the end of 2017.
Weekly
Last week price pulled back with a strong bearish candle to 150.00. However, we did fail to break below this level and price was also held by the EMAs which are upward facing. This week, we could possibly engulf last week's candle.
Daily
A new high was made last week which rejected from 152.50. We've rejected 150.00 for a possible swing to the upside and today's daily candle shows a strong bullish close. EMAs are also upward facing with the candle closing above them suggesting a rebound.
H4
Pullback of price into our preferred fib region with confluence rejection of 150.00. A break of our CTL as well as an EMA crossover. The 2pm candle was a bullish marubozu which shows strong buying momentum.
As per my previous trade - although it hit my stop, I still maintain a bearish outlook for this pair. The last 2 months have spiked and rejected 150.00 and this month we are seeing the same. The EMAs are ever closer to crossing over - I feel we might be able to see this by the end of 2017.
Weekly
Last week price pulled back with a strong bearish candle to 150.00. However, we did fail to break below this level and price was also held by the EMAs which are upward facing. This week, we could possibly engulf last week's candle.
Daily
A new high was made last week which rejected from 152.50. We've rejected 150.00 for a possible swing to the upside and today's daily candle shows a strong bullish close. EMAs are also upward facing with the candle closing above them suggesting a rebound.
H4
Pullback of price into our preferred fib region with confluence rejection of 150.00. A break of our CTL as well as an EMA crossover. The 2pm candle was a bullish marubozu which shows strong buying momentum.
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Stop moved to BE.
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Closed trade early for 160 pips pips before NFP tomorrow.