Daily chart is in a very bullish position, and the weekly is in a retracement of the April to Aug range. 50% of the April to Aug range is at 0.9714 and the 61.8% at 0.9919. I don't see any reason at all to short this pair unless there's a failure at one of these levels or before. Anyone shorting this pair now is crazy IMO.
Where are you? {image}
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{quote} maybe not 9700, but I've got my eye on 9510/9620 area to complete wave 4 before it heads down towards 8000 to complete wave 5. Looking at the daily chart we have an inverted H/S which has broken both possible necklines. The orange neckline has a measured target of 9510, and the yellow neckline has a measured target of 9620 a break back below 9100 temporarily invalidates the pattern (but not the EW count) and a further break of the low means we are on our way to 8000 to complete wave 5. {image}
now we have DBHLC (Double Bar High Lower Close) at M30 tf already breaked below general speaking is a powerfull bearish pattern on H1 TF I don't know how much is meaningful at lower tf as M30 anyone?
