MENU

TRADE SETUP ALERT 18/05/2021

ETH Looking for Continuation

ETH has completed a 50% Fibonacci retracement of its recent bullish run and it could be time to start looking for continuation. The key level here for the next bullish move would be the reclamation of the Weekly Pivot @ 3770. This could set up targets @ 4280 followed by 4915. If however, the price falls back below 3410 a deeper correction towards the 61.8 Fibonacci level closer to 2900 can be expected.

EURUSD Inverted Head and Shoulders Continuation

Since the previous head and shoulders have completed its target it has now reverted into what appears to be an inverted head and shoulders continuation pattern. The ultimate target here is in the vicinity of the current R3 Monthly Pivot @ 1.264. Support will be near the neckline @ 1.213 with failure possibly seeing a move to support @ 1.196.