I'm actually very excited to share this chart!
For months I've been loving the dollar weakness keeping a key eye, that's been the main dominance in the market at this moment of time - Forget Brexit..It's like long going divorce which none of them can agree on anything at this moment of time.
I posted a video explaining we might reach 1.35 areas - we've come above a long term trend-line down - Keep in mind a VERY long trend-line going on for years. This was posted 2 months ago.
Fundamentals to keep in mind we have FED speakers speaking this week, if we get further clarity how they are going to rise inflation which tools will they be implementing in, or if they don't it could drag the dollar either direction, which you should keep in mind major pairs, precious metals and real yields.
Technical terms of GBP - We are in a tight range, keep in mind this is longer time frame. If we do extend further of the area we are in, we should be going back to the areas of 1.35 half areas. Which will reach my long term targets for GBP - 1.35, EUR - 1.20, AUD 0.74/0.75. That's if we get further decline in dollar. (Keep in mind most majors had key trend-line long terms they've battled with). If you'd like further information regarding minor pair targets or any other instruments, please do message privately.
However, if we do get key pull back for GBP keep an eye on the levels area of 1.32 if further decline, bulls will come into control.
Key tip: The trend is your friend....Don't forget UK, We are on Bank holiday - I don't expect large movements for today and end of month flows.
Trade safe and great week ahead to you all.
(Just a trade idea, not a recommendation)
Trade Journal.
For months I've been loving the dollar weakness keeping a key eye, that's been the main dominance in the market at this moment of time - Forget Brexit..It's like long going divorce which none of them can agree on anything at this moment of time.
I posted a video explaining we might reach 1.35 areas - we've come above a long term trend-line down - Keep in mind a VERY long trend-line going on for years. This was posted 2 months ago.
Fundamentals to keep in mind we have FED speakers speaking this week, if we get further clarity how they are going to rise inflation which tools will they be implementing in, or if they don't it could drag the dollar either direction, which you should keep in mind major pairs, precious metals and real yields.
Technical terms of GBP - We are in a tight range, keep in mind this is longer time frame. If we do extend further of the area we are in, we should be going back to the areas of 1.35 half areas. Which will reach my long term targets for GBP - 1.35, EUR - 1.20, AUD 0.74/0.75. That's if we get further decline in dollar. (Keep in mind most majors had key trend-line long terms they've battled with). If you'd like further information regarding minor pair targets or any other instruments, please do message privately.
However, if we do get key pull back for GBP keep an eye on the levels area of 1.32 if further decline, bulls will come into control.
Key tip: The trend is your friend....Don't forget UK, We are on Bank holiday - I don't expect large movements for today and end of month flows.
Trade safe and great week ahead to you all.
(Just a trade idea, not a recommendation)
Trade Journal.