The overall trend is LONG. You may catch a 25/30 pip SHORT retracement back to the 50% / 61.8% retracement levels.
1. 14 day downtrend seemed to have ended as price found support around support found around 1.2605.
2. Bullish pinbar formed and closed with a long wick rejecting lower prices.
3. Bullish candle now in...
-MONTHLY RESISTANCE ACTING AS RESISTANCE
-FIRST DAILY BEARISH CLOSURE AFTER 15DAYS (3WEEKS)
-WEEKLY SPINNING TOP CLOSURE (SLOW DOWN OF MOMENTUM)
-FIBONACCI RETRACEMENT LEVELS TO BE MET
-TRENDLINE TOUCH, REJECTING A BREAK ABOVE
GBP remains offered given the political volatility in
Westminster. The BBC reports there is further pressure on
May to resign from her own MPs after one of her senior
ministers quit the cabinet (Andrea Leadsom).
We have covered much space this week already,
but continuation breaks remain favoured.
I'm not really interested in currency due to being pretty boring markets more than anything, but it is a necessary evil in our world. GBP is interesting for me being British and also because of its long market history spanning many centuries. It's story has been one of decline for many, many years now as the Americans took over what remained of the British Empire....
Escalation of a trade war has led not only to concerns expansion about global economic growth, but also to a fall in the rates of developing countries’ currencies. Since quotation mainly goes against the dollar, it has become an unwitting beneficiary because of this. The correlation between the dynamics of the dollar and the currencies of developing countries...
LogicStrategy Quant scores shifting in favour of GBP, compared to the weak score provided for CHF.
- This was following the recent decrease in unemployment in the UK down to 3.8% from 3.9%.
- CHF PPI dropping significantly to 0% with a forecast of 0.2%
- CHF retail sales dropped significantly this month, down to -0.7%
- SVME PMI down for CHF to 48.5...
As patience grows thin on PM Theresa May's tenure and Brexit deal, global traders have put a beating on the British Pound, sending the $GBPUSD to fresh new lows for the year.
To add more fuel to the fire, on a technical level, prices remain firmly below the 10-Day EMA without any sign of a reversal.
With a political crisis looming, we see more downside for the...
Since early January 2019 the prospect of soft Brexit outcome has benefited sentiments towards GBP which has rallied from 1.2440 area to recent peak in 1.3350 area.
The meaningful vote is scheduled for 12th March which if it fails then further votes on No deal exit is on 13th March and negative outcome will be followed by vote for extension of exit...
Today, we shall consider important topics, near future and opportunities.
Elections to the European Parliament will be held in Europe this week. (Elections will be held in 28 countries from May 23 to 26, 2019, 751 members will be elected. Those elected people will represent more than 512 million Europeans, which makes these elections the largest transnational...
-PRICE HAS REACH A MONTHLY TIMEFRAME SUPPORT LEVEL
-PRICE HAS MET WITH AN ASCENDING WEEKLY PINK TRENDLINE
-RSI INDICATION STATES THE PAIR IS LOOKING HEAVILY OVERSOLD
-61.8% FIB RETRACEMENT IS A GOOD KEY LEVEL AND PSYCHOLOGICAL LEVEL FOR A POTENTIAL UPSWING TARGET
Yesterday’s data on US retail sales could be described as weak only. Sales dropped 0.2% in April (with growth forecast at 0.2%) therefore the dollar has suffered sales.
We recommended looking for points for selling the dollar yesterday because the afore-mentioned scenario was considered as fundamental one. Our position is unchanged – we short the dollar. First...
Now that we know we have a bit of an extension until April 12th, but that will be extended into May if Parliament passes Prime Minister May's deal she made with the EU earlier in the month which had already lost by a staggering 150 votes. That's quite a bit to make up in 20 days. Overall, I'm now quite negative on every pound pair. Here's more words and charts on...
-WEEKLY TIMEFRAME HAMMER CLOSURE
-HAMMER AFTER 8 DAY BEARISH TREND\
-HELD AT DAILY PURPLE RESISTANCE AT 0.65150
-DAILY & H4 BREAK OUT OF BEARISH TREND
-NO LONGER SITTING BELOW MOVING AVERAGES ON H4 DAILT TIMEFRAMES
-FIB RETRACEMENTS WORK AS TARGET ZONES
Technically the gbp/usd is strongly bearish. It is intent on setting new period lows. The price, after having broken down the channel composed by the support ( 1.28 area ) and the resistance ( 1.32 ) has started this very short-term downtrend. In less than five sessions this led him to test the key short/medium term support. This one identified by 23.6% of the...
Welcome traders around the world to this new trading idea!
We are looking at the EURGBP pair today and looking for short positions on this pair.
The two horizontal black lines do mark a daily gap, which was filled with the latest price moves. Price did form a new peak high during this uptrend and we want price to do a nice top before its breaks down.
JPMorgan Chase & Co analysts in connection with the rapid growth of the cryptocurrency market in recent times, and Bitcoin in particular, have thought about the question “what is its fair price?”, so-called intrinsic value. Determining the fundamental cost of cryptocurrency is a very difficult and highly ambiguous question, but considering Bitcoin as a commodity...
After a few strong weeks of bearish rally (mostly thanks to brexit) after the price of FOREXCOM: GBPUSD broke most of the supports, not only daily, but weekly , at this time is reaching one of the lowest supports since January.
Since May 3 this bearish rally has not entered longs, with minimal corrections we did not see purchase possibilities, however that...