Cable now stops at the bullish trend line ( black line).
I'm waiting for the breakout.
Any break will open the door for further downside.
And a bounce is a chance to buy in dip.
Indeed, BUY or SELL : the rate is 50/50
Grexit, Strong Dollar post the risk to Cable.
But the hope for rate hike supports Cable.
While Technical Analysis is not obvious.
1.5900 is 50% Fib retracement : the long term retracement.
Cable bounced from the strong resistance: 1.5900, the bounce from the strong resistance post the risk for downside.
SMA200 stands at Kumo cloud: This is a strong support: 1.5400
However, the break the bullish trend line could wipe out the support 1.5400
- MACD cut the signal in the MACD indicator.
-----------------------
In short, I wait for the break to enter the SHORT position.
The test around the trend line will open the chance for a reasonable position.
---------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals
Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.
I'm waiting for the breakout.
Any break will open the door for further downside.
And a bounce is a chance to buy in dip.
Indeed, BUY or SELL : the rate is 50/50
Grexit, Strong Dollar post the risk to Cable.
But the hope for rate hike supports Cable.
While Technical Analysis is not obvious.
1.5900 is 50% Fib retracement : the long term retracement.
Cable bounced from the strong resistance: 1.5900, the bounce from the strong resistance post the risk for downside.
SMA200 stands at Kumo cloud: This is a strong support: 1.5400
However, the break the bullish trend line could wipe out the support 1.5400
- MACD cut the signal in the MACD indicator.
-----------------------
In short, I wait for the break to enter the SHORT position.
The test around the trend line will open the chance for a reasonable position.
---------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals
Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.