The EURGBP breakout from the bull flag seems to fail…
Tag Archives: setup
We have the breakout from a s/t trendline on the 15m EURGBP chart and the pair is now pulling back. A higher low would be a partial retracement within the channel of the bullish flag. A break above the flag’s resistance line would offer a second entry alas a higher level.
The EURCHF 4h chart shows a higher high after a triple bottom near 1.2430 with a pullback to the 20EMA. The 30m timeframe violated the pullback’s trendline. A higher low on the 30m chart would set a long entry trigger at 1.2875 for a 1-2-3 reversal.
USDCAD: failed to hit new low below parity level, a fresh high above 1.0155 would change the short-term bias to bullish
EURUSD: new low below 1.3700, seems oversold therefore a swing up to a lower high is likely
GBPUSD: testing the 4h uptrend but the lower high makes the picture mixed
The daily and 4-hour timeframes are in agreement on the GBPUSD uptrend. We have a minor pullback from the 1.6300 top which is yet to test the 38.2% fibo level at 1.6052 however the bullish pin on the 4h chart with confluence of an important swing high (bearish pin bar on Oct.15) offers a setup for a long trade.