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TRADE SETUP ALERT 17/02/2021

EURUSD Head and Shoulders Once Again in Play

After strong rejection from the Daily 50 SMA price is once again trading back at the HnS neckline with a test of the Daily 100 SMA near the Monthly S1 Pivot @ 1.200 likely. If this level is lost the next level of support is the monthly S2 @ 1.188 followed by the Daily 200 SMA which will coincide with the HnS target near 1.178. A Daily close back above 1.212 would be considered bullish.

BTCUSD Trend Continuation

After a brief consolidation last week price has no broken out of the consolidation range with price discovery leading price above 50k and towards our next possible bullish targets between the Weekly R1 @ 52.8k and the Monthly R3 @ 55k. The 4H 50 SMA can be used as a dynamic stop level.