EURUSD is heading towards the support line of a Channel Down and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Supported by Downward sloping Moving Average
Target: 1.0867 Entry: 1.0922 Stop: 1.0953
GBPUSD is about to retest a key horizontal resistance level near 1.3134. It has tested this level 6 times in the recent past and could simply bounce off like it
Emerging Channel Down pattern in its final wave was identified on the DAX 40 4 hour chart. After a strong bearish run, we find DAX 40 heading towards the upper
DOW 30 has broken through a resistance line. Because we have seen it retrace from this price in the past, one should wait for confirmation of the breakout before trading.