Price retested level 1.37 last week but bounced off around that level on Friday. Our stand on 1.40 and 1.42 from last week analysis still holds. We will be paying more attention to our daily chart stochastic cross as price is already pushing the daily chart upper bollinger band. It will likely bounce off around 1.40 to test the daily middle band before heading...
For the coming week, I will be going long on GBPUSD till price gets around 1.42 or daily chart stochastic crosses downward again. My first target will be at 1.40, if price continue from there before daily stochastic crosses downward, it becomes 1.42. 1.40 is my daily chart upper bollinger band while 1.42 is weekly chart upper bollinger band. Price has tested level...
EURUSD which is heavily on a downward trend seems to be having a pullback after closing the week with a greenish candle at 1.1056 which initially tested the level 1.0989.
For the coming week, if the pullback will be sustained at least for the week, we expect the price to react around the levels (after like two days or half week pullback)
1.1065,
1.1100
and...
GBPUSD seems to be resuming its previous four weeks move which initially went on consolidation around 1.2976 down to 1.2767. I personally was waiting for the price to go lower around 1.2743 to 1.2633 before looking for a buy order but as we can see, 1.2767 seems to have held the price and It’s looking bullish after breaking 1.2866 .
If the price will keep the...