• The three weekly candles are extremely bearish and closed last week breaking the ascending trendline
• There is Negative Divergence on the stochastic
• Ichimoku Study - Trading above the clouds

• We have saw price flirt around the Support and Resistance zone / Ascending Trendline and was unable to stay above , therefore it is likely the market will test the next support zone.
• Saying that it would be ideal to sell on pull backs
• Ichimoku Study - Bearish (trading below clouds)

• The H4 chart shows that the basically we were trading in a very tight range last week, and by friday has failed to stay above .
• If market gives us a pull back scenario, I would be interested to sell (please see the blue zone on H4 Chart)
• Ichimoku Clouds - Bearish (trading below Clouds)

• Note this is a uncomplete weekly candle however I want to show you the weekly chart as its coming into Support /phsych level 1.370 and also trendline support
• Will be interesting what weekly candle we will achieve by friday for long opportunity perhaps

• Daily Chart is also showing the same clear Support Area. however we must take note that if you throw in Ichimoku studies, we have broken the support clouds which might suggest bearish momentum
• however the broken clouds does have a flat line which could be a false signal of bearish. so need to be cautious
• We must also take note that the strong selling momentum from the near 1.40 has bought the market dumping right towards the 1.37, so buying into this might not be a good idea (please see 4hr chart)

• Stochastics positive divergence which could signals a possible long trade, however I have not took it due to the extremely bearish momentum with vaguely any retrace

• 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 

• Broken ascending chanel

• Potential price to stall at the highlighted level / light blue level (1.375 approx)

• Overlapping Fib, + potential harmonic pattern completion

• US Dollar index is also close to my resistance

Daily Chart

(Cypher Harmonic Pattern coming?)

• Finally have a bearish candle month
• Rejection from the 61.8 retrace which also is a long term descending trendline
• Stochastic Negative Divergence
• note price closed at the 50% retrace level and if you scroll back, its at a close area of good support and resistance 

Weekly Chart

• Bearish engulfing candle
• Fibs in grey are of most recent swing up, and we have broken the 61.8 level, and looking at the 78.6 to 88.6 retrace level closely as its a strong level 
• Stochs are oversold

Daily Chart

• New low since November 2013
• Levels to watch is the same shown in weekly chart

• Have shown the trade setup from the 1.34080 level,
• reason is its a 78.6 fib retrace (bit under), 127.2 fib ext from dec high to mid jan low, you also have a 141.4 fib ext reverse

• Not much action for the first two days of the week as market anticipating moves after the Fed later today

• I have identified a potential Cypher Pattern similar to the AUDUSD setup.

• There is divergence (unfortunately not drawn on chart sorry), where we have higher high, but lower highs in stochastic.
• Trading into resistance, with Friday's Candle seems to have a exhaustion pin bar.

• The Stochastic seems to me that it wants to push price up,
• On chart are two counter trade setups if we break resistance

Hourly Chart

• I have not shown the stochastic indicator window, however i could tell you it is pushing up which makes this pair breaking resistance more of a possibility
• On the chart, there are two possibility, One is a trend continuation, and second is a counter trend

• After beginning the week a tad higher , we hit resistance around the 61.8% retrace and continued lower
• We have found temporary support at a 61.8% retrace from NOV low to Dec Highs,
• Price action shows very heavy pressure and looks like a potential to go lower 
• Stronger support is lower at around 1.345 which is a confluence of a fib extension of 127.20 (reverse calculation of most recent swing retrace) & a 161.8 fib ext (of the Dec highs swing down to first week of Jan) and Also which is a Mid Monthly pivot from S1 to S2.
• At this stage, trend traders would look for opportunity to short if Monday / Tuesday provides some retrace and Target 1.345 (As shown in 4 hourly Chart)

• A very good potential short setup if a retrace to the 38.2/50/61.8 fib level with confirming price action candles to follow the short to find lower lows

Hourly Chart

• Monday Asian session hourly candle had shown price action tried to break lower, but with another candle recovering (engulfing or a railway candlestick pattern) - this is showing market finding support at this current stage and wants to retrace higher before continuing down
• On my hourly chart, I have only shown possible counter trade levels

• Resume of bullish momentum is expected this week due to a weaker US Dollar both technical and Fundamental 
• If we break through 1.372 we may see a tripple top or my earlier forecast of a new high of 1.395 

• On an 4hr chart the most recent swing was down, so we will look for an opportunity to short it (although it may contradict the daily chart analysis which is a longer term view)
• The 1.372 level is a place to look closely where it has three obstacles (fib retrace 61.8 and two fib extensions confluence)

• Bearish momentum is very strong from Friday, as we broke major support
• We expect the market to stall at the 1.349-1.35 level which is a strong support.  
• Until then, any intraday trades should be taken short

• Strong bearish momentum , as market tries to test the 1.349-1.35 - psychological and confluence of fib levels
• I have a short trade targeting the closest area i have drawn on the chart, and tp2 the second.

• Trend is still bullish
• Descending Trend line (since march 2008) is near at around 1.3950 -
• Stochastic is overbought and diverging
• Last month's candle's body is strong and covers previous resistance area

• Seems to me that it will be in a consolidation mode for few days where support is 1.370
• Trend is bullish however is in a critical area where the upside is limited until we break and close well above 1.380.

• There is no clear direction from the last few hours, which was good opportunity to range play
• As from the Daily , i mentioned an area of supply and demand need to be tested (1.370)
• Trend line is ascending

• Trend Ascending / Bullish
• Ascending Trend Line respected third touch
• Stochastic are pointing upwards 
• RSI reading is 60
• Trading above major support
• Friday candle is bearish (shooting star), however is in a messy area and not a clean area. - eg if you look left, what do you see? lots of action!