Price reversed from an ascending channel and formed a double bottom. Price broke out from a descending trendline and is making a bullish corrective structure.
Price made a 4 hour bearish corrective structure and broke it, currently price has a potential to move down towards the support zone,
We will be waiting for a sell setup on a lower timeframe to confirm the down move
On a daily timeframe, this pair is moving between two strong trendlines and is forming a wedge. This is indicating a possible breakout so it would be smart to place pending orders for either a bullish or bearish breakout
I'm seeing a second shoulder forming to complete a Head and Shoulders pattern. If prices fail around the 1.07349 zone, consider a short if you choose to be an aggressive trader. If you choose to be conservative, you can wait until the pullback completes at the 1.07065 level and take your profits at approximately the 1.07060 level.
News was released from Great Britain a couple days ago regarding Brexit which shot the pair upwards. Normally, price tends to head back down towards an equilibrium after such an event occurs. This also goes to mention that the 0.23 fib level is holding quite well. I'm seeing a pullback shortly after this support level is broken and it will head downwards towards...
