• We are trading in a descending Chanel , however with the fib expansions of the high to low swing , we have hit the FE100 level which also has a confluence of a ascending trend line
• We have some strong resistance where we have a 38.2 and 50 overlapping fib at 1.830
• below that we have the monthly pivot and the descending channel line

• We need a clear break above 1.830 before any long position 

• After the Hammer formation candle, as expected we saw last week have some bullish momentum

Daily Chart

• We saw continued bullish momentum last week , however past few days we are seeing seeing doji's / indecision from price action
• Having said that, yesterdays doji's body did actually close above minor resistance which should now become support however next resistance is near, so i expect some sort of rejection back towards the pink zone support before taking another leg up

• Broke through resistance, and looking on towards testing the next resistance

• We had a continous bullish days last week, where we have broken slightly resistance,
• Today's candle is showing some bearish price action, but this could be a retest of the breakout zone / retest support before continuation to the upside
• Note there is the ichimoku clouds which could give some resistance
• Bias is bullish since we have broken the descending trendline, and had retested the bottom and rejected also from an long term ascending trendline.

• Although we have broken resistance, and trading majority in the s/r zone, I believe what is stopping the bullish momentum is the Monthly pivot, and confluence of the 50% fib and the clouds.
• Having the strong resistance, it could be possible for price to pull back and reload again to the upside to break it.

• As anticipated on the previous weekly forecast, we have continued to reject from the Clouds/ Fib level 38.20
• Last weeks candle wiped off just over half of the previous bullish candle

• Last week we had a two huge bearish days, however yesterday (Monday) we have a slightly bullish doji?
• Stochastic is also in oversold and turning and perhaps we might retrace and retest the resistance

• Above I have two charts, one with the Ichimoku and one without
• We broke slighly below the Ichimoku Clouds, and now trading in the clouds where i will look for hourly / 4hrly shooting star formation from the zone.

• There is a potential Cypher pattern if price goes up to 78.5% fib which is a good confluence of weekly R1 pivot and Resistance yellow zone on my chart.
• There is also other ways to look at it if you draw two sets of fibs and there good confluence levels to look for short opportunity.

• Bullish Cypher still in play

• Last weeks price action was bullish and we recovered nearly half of the sell off of the previous wk prior

• We had continuous bullish price action daily candles
• Broke through resistance, however nearing another minor resistance
• We are also trading in the ichimoku clouds and Stochastic is trading in a overbought zone

• As you could see the bullish cypher identified over a week ago did play out quite well
• This is a 4 Hourly chart, where we have broken through the Ichimoku clouds, however we are in an area of potential resistance (yellow zone) and market could retrace to the downside to test the support zone in the following days.
• We are also travelling on the upper line of the ascending channel., 

• Do you see any similarity?

• Hammer Candle Formation last week from the Support Zone With the long wick , this shows buyers are really in control.

• False break of support is noted from last weeks price action.  However Ichimoku Studies shows that we have broken the clouds and trading below, which suggest in a bearish mode. Having said that, the current clouds has some room for any bullish momentum to take place.  
• We also have the Tekan San line which is flat , which usually attracts price towards the line.

• This is the only Time Frame Chart (H4) which we are trading into the clouds acting as possible resistance, So I would like to see price go above the the clouds and break the 23.6% fib level to consider long trade

• We have been trading between the 101-103 region for nearly two months now
• Approaching the ascending trendline

• Ichimoku lines are squeezed and possibly indicating some bullish action if prices move up further, however upside could be limited from clouds trendlines and fib levels from last weeks sell off.

• Weekly Ichimoku Clouds are near, and we have briefly spiked into the clouds acting as resistance
• Confluence level of Fib 38.20
• Also a Support and Resistance level

• H4 - We are trading above clouds, however H1 - we have broken the clouds
• H1 chart have drawn a descending and ascending trendline which forms a squeeze / triangle, 
• Oscillators we are not seeing anything significant to note

• Very Bearish Candle after market retest resistance level, 
• With the heavy momentum it will not surprise us if we break below the lows of 2014 and find the major support level as shown on the chart

• Daily candle is a doji which suggest a pause on the bearish run, and more often suggest a reversal

Hourly Chart

• Identified this cypher pattern which suggest a correction
• Last few hours Price action does show some strength of the bulls
• MACD - (not shown on chart) is starting to cross

• Huge Bullish Week Candle reacting from the 1.37 level and have pushed prices well above the 1.38

• Continuous 4 day rally brings us back above 1.38, and would be ideal to dig into a 4hr chart to see any hammer formation hammer to ride it potentially up to 1.40 or equal highs
• MACD is crossing at the bullish level, suggesting continue bullish bias. however Stochastic suggesting its overbought
• RSI is not overbought

Hourly Chart

• We could be travelling back in an ascending channel towards equal highs or the 1.40 zone level which on a daily and weekly provides very good resistance if we get there
• We have  Bearish Cypher setup, however given the fact we are close to potential support it doesn't give us room for profit 

Daily Chart

• On a Daily Chart we could see a huge fall continuous for 4 days
• Fall from ascending channel 
• Looks bearish and some may argue we could find lows as we continue the bearish tone. However I have spotted this cypher pattern which could work nicely due to the fact these patterns if formed at top and bottoms work much better

• We have a potential Cypher Pattern
• Stochastics is extremely oversold but remains in the oversold (slight divergence) - this doesn't mean anything but still in a bearish mode
• RSI - slight divergence where its starting to head up above 30

• Last week Candle was a Shooting Star Pattern 
• Cautious here because the Body of the candle is above previous body, which has a lower chance of a reversal candle

Daily Chart

• Early Asian Session we continue to see sell off, however bound a good bounce from the monthly pivot / W S1 Pivot which also is a previous resistance, which becomes support
• I would like a smaller push down towards 102.500-600 before attempting a long scalp
• Stochastics on the H4 is at oversold still

• Obvious Stochastic Positive divergence
• Near Resistance

• Stochastics is overbought territory but still rising
• RSI is also pointing upwards
• Last week Candle is a small bullish hammer closing higher than its previous huge bullish candle
• However candle body is small

• Technically Chart is showing that bulls are in control and pushing prices to the high 0.92, and if we manage to trade there, a high chance we will break to the upside to test its 0.935 which in terms of Fibonacci it has very strong level and confluence
• Flip side, if we get a fail rally (currently Tuesday Asian Session), Looking to see a break of the ascending trendline to go short (for scalp / intraday trades)