Yes, I noticed this, the PA is interesting, and it got a boost off fresh lows today. Could be a turning point, yet it is too early to tell.
Looking at the weekly it seems as though there could be a support in this area of .0418 area from old resistance. Yet the pair has broken, 2 levels of importance the first being .05 - next the zone around .o480
With recent EUR and GBP strength I will not be surprised to see swissy lower
if this trend continues. There is the possibility of some retracement on these pairs.
I will look for a solid breach of .0400 to confirm further downward move.
Looking at the weekly it seems as though there could be a support in this area of .0418 area from old resistance. Yet the pair has broken, 2 levels of importance the first being .05 - next the zone around .o480
With recent EUR and GBP strength I will not be surprised to see swissy lower
if this trend continues. There is the possibility of some retracement on these pairs.
I will look for a solid breach of .0400 to confirm further downward move.
DislikedLooks like we have an interesting formation in the makings here. Possible inv.H&S in the makings.
I wouldn't be surprised to see this pair bullish for next week or so thus forming the neckline which would, if everything goes as planned around the 1.067 level. Then, the pair might go for a retest @ the 1.048 level thus completing the formation. Just as a reminder, 1.067 was this weeks high thus making it potential resistance.
If this indeed completes, we will see a bullish pair after the formation is complete.
Also, there is an H4 bullish...Ignored
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News