What's not to like about this pair long?
Not quite a triple bottom but close enough for me, higher swing low should be alerting traders to the possibilities here and most importantly (for me), a sustained break and hold of the key 72 area. A bit premature but a H & S forming too. Neckline at 7420. Targets the 79 area if completed. Personally I'd be happy with 77.50-78.
Fundamentals appear to support this view for now, UK data not been great of late and BoE have recently dampened hiking talk whilst ECB have stood still...thus narrowing divergence in monetary policy expectations.
Stops above 73 now look vulnerable and could propel us to 74 in a hurry
Not quite a triple bottom but close enough for me, higher swing low should be alerting traders to the possibilities here and most importantly (for me), a sustained break and hold of the key 72 area. A bit premature but a H & S forming too. Neckline at 7420. Targets the 79 area if completed. Personally I'd be happy with 77.50-78.
Fundamentals appear to support this view for now, UK data not been great of late and BoE have recently dampened hiking talk whilst ECB have stood still...thus narrowing divergence in monetary policy expectations.
Stops above 73 now look vulnerable and could propel us to 74 in a hurry