EJ Week of 22nd September
Last week I was expecting an upmove to the complete the ABCD pattern. The move completed with the help of FOMC news, breaking structure to new highs.
At the moment my bias is bulish, looking at entries around 133.35 for a profit potential of 250 pips at a confluence level of fibs.
If you look at the Daily chart we do not see any resistance nearby (clear sky). By looking at Weekly we still have at least 400 pips to get to the next resistance, so there is an opportunity for a good trade in this pair . For those who wants to take advantage of all moves, you might want to get involved in a CT trade in Lower Timeframe by trading the retracement down, once the 4H mother candle low is broken.
Last week preview - http://www.forexfactory.com/showthre...18#post6965318
Last week I was expecting an upmove to the complete the ABCD pattern. The move completed with the help of FOMC news, breaking structure to new highs.
At the moment my bias is bulish, looking at entries around 133.35 for a profit potential of 250 pips at a confluence level of fibs.
If you look at the Daily chart we do not see any resistance nearby (clear sky). By looking at Weekly we still have at least 400 pips to get to the next resistance, so there is an opportunity for a good trade in this pair . For those who wants to take advantage of all moves, you might want to get involved in a CT trade in Lower Timeframe by trading the retracement down, once the 4H mother candle low is broken.
Last week preview - http://www.forexfactory.com/showthre...18#post6965318