EURUSD SHort setup, triple top and channel top

16 Jan 2017

If we do not break the descending channel upper trendline with volume we can expect to test the middle and upper regions of the channel. We're also at the top Keltner which acts as resistance.

Make sure to implement a close stop and ride it down !

16 Jan 2017

Nota

Bottom Keltner at 1.0591 , this will surely act as some form of minor resistance.

Ideally exit the position before possible volatile macro-economic events on wednesday.

17 Jan 2017

Dagangan ditutup: hentian tercapai

Our stop loss was reached earlier this morning on the breakout of the channel to the upperside.

A weaker dollar by Trump & FOMC comments made this happen. Euro is still fundamentally the weak part of the pair.

We can see resistance at 1.720 which is the Fib extension of the first upmove and the forming head of our H&S, we can expect a correction to the neckline before continuation if this bullish sentiment continues