GJ Analysis

2018年9月9日

Daily: After a strong correction rally to 145.5, the pair has quickly pushed back support 144 and consolidate near mid 142 region. The push below 144 has also broken the small uptrend. Following that, the pair has bounce back upwards to test the upside at 144, confirming the break of small uptrend. The resistance 144 has also held for 3 consecutive days and printed a shooting star on Friday, indicating a potential Lower High, which means there could be another swing lower. A clear break below 142.4 would expose the downside 140. Alternatively, a failed breakout below 142.4 would contain the pair above the support and potentially rechallenge the upside at 144 for an upside break.
4H: Looking closer in the 4 hour TF, we can see the pair is currently contained in a 4 hour range 142.6 - 144. We can see that the resistance 144 has held multiple times and the pair would potentially retest the range low before any clear signal can be seen. A clear break below the range would expose the downside at 142 & 140.25. Alternatively, a break above the range would invalidate the bearish setup and expose the upside at 145.5.