18 month range broken to the down side
Break of the range confirmed with a re-test of:
- Key S/R line with deceleration
- Overall 618 Fib retracement
- High test/outside reversal candle of the key S/R line and 50EMA as resistance
- Recent EMA cross over in November
Weekly chart shows a huge high test candle of the 618 retracement, with MACD divergence - adding further confluence
Intraday charts has a fall back below the 50EMA with 50/200EMA crossover and MACD divergence
Target 2015 Low of 1.300 (similar time course to achieving parity with EURUSD, with stop above the daily 50EMA (R:R 5.5)
Break of the range confirmed with a re-test of:
- Key S/R line with deceleration
- Overall 618 Fib retracement
- High test/outside reversal candle of the key S/R line and 50EMA as resistance
- Recent EMA cross over in November
Weekly chart shows a huge high test candle of the 618 retracement, with MACD divergence - adding further confluence
Intraday charts has a fall back below the 50EMA with 50/200EMA crossover and MACD divergence
Target 2015 Low of 1.300 (similar time course to achieving parity with EURUSD, with stop above the daily 50EMA (R:R 5.5)
