High risk analysis considering the UK election results are this evening, however... GBP is stuck in a nice 100 pip range on GBPJPY. 143.500 resistance holding now. price is looking to bounce back down to support at 142.500. At the 142.500 level this is a nice bullish trendline and support. This is the area to watch for another trade opportunity on either the...
Concluding a year that saw the central bank take down its benchmark rate three times, the Federal Open Market Committee on Wednesday met widely held expectations and kept the funds' rate at the same level. The Fed is completely satisfied with the current state of things. As a result, markets do not expect any changes in the monetary policy until the end of 2020....
CHFJPY dipped lower and resume higher yesterday but correction might not be completed yet. From the look of things, the correction might be unfolding as an expanded flat pattern. I will wait for the price to deep lower to the blue zone for a potential entry. The invalidation level on the chart is critical for buyers, so my stop loss will be there if I secure an...
After a lot of whipsawing price action on EURCAD, and AUDCAD, I could now see the kind of price pattern in the making. When there is a range-bound or contracting price action, it usually tends to be a Triangle. I'm able to label the price action on EURCAD. And if the count is correct, price should resume higher from or near the current market price and the...
After a lot of struggling to identify EURUSD bottom, the market has clearly indicated the direction of the trend. The Zigzag pattern from the weekend analysis actually completed the corrective structure in wave (ii). Since then, the price has made a five-wave up which I counted as an expanding leading diagonal, but it might as well be a "1-2, (i-ii), i-ii" wave...
Lovely pattern forming and i'm super bullish on the pair - i've been LONG since 1.2700 and plan to hold out until we reach 1.40 - personally i believe the conservatives will obtain the majority they need to Brexit, therefore sterling should respond positively. I remain on guard to close my position if the majority doesn't transpire as i believe it will be an...
BEARISH CANDLESTICK REVERSAL PATTERN DETECTED: CHECK COMMENTS TO SEE THE PLAN
On December 15, the United States will not increase tariffs on Chinese goods.The reason is that the negotiation process between the US and China continues. The news was supposed to provoke sales in safe-haven assets, but it did not happen. That only confirmed our recommendation to look for points for buying gold and the Japanese yen on the intraday...
GBPUSD Good morning traders and aren’t we spoilt for choice. It’s been a while since we’ve been in this situation. I want to get straight into it and with recent news suggesting that the UK election is tighter then expected we now have a fresh signal of sellers in the market. The chart presented is a 4H TF and we can see that we’ve pushed up “for no reason” we...
As we continue wave (V) on polls suggesting Tories winning, there is still indecision for now as investors wait for the results. End target is still 1.34. Tories winning should be positive for GBP while hung Parliament would plunge it first. Final FOMC today would create volatility in the pair, but election should be the priority for investors. Good Luck!
Snap election tomorrow. Tories need 320 votes for the majority and latest YouGov polls and forecast suggest Tories winning 339 seats, with Labour on 231 and the Lib-Dems on 15. The seat-by-seat model, which is based on thousands of interviews, puts the Tories on 43 per cent of the vote and Labour on 34 per cent. On the technical side GBPAUD broke the upper trend...
I've already explained a lot with the description on the chart! I will be looking for a pullback to the structural level to position for a long trade in one of the biggest impulse wave, wave iii of (iii). I will be keeping eyes on it and GJ or EJ for a possible long trade! What's your thought about CHFJPY? Kindly let me know in the comment! Best of luck on the...
Tesco: -In the daily chart: Price action has consolidated into a rangebound symmetrical triangle, this usually symbolises continuation (to the upside) but I do not discount the possibility of a short if we fail to breakout long and in-turn breakout in the opposite direction. Identifying a breakout: In this case price has had bullish candles deviate outside of...
with my strategy, it's probably open a long position and have a profit
For those who shorting this pair, if break the supply zone just let it be. i guess this will be the scemario when Boris Johnson win this election on Thursday. if repeat again 2017 scenario, it will be a huge bearish back to 1.22 zone.
In yesterday’s review, we already noted that this week may be decisive for several financial assets, and the global economy as a whole. On December 15, the United States may introduce tariffs on goods from China and thus bring trade wars to a new level. It's entirely up to an agreement between the parties. Even though we have heard positive statements for more...
The market structure of GBPNZD shows how the price breakout of major ascending trendline and support zone. Price is currently retesting the broken levels that lined up with a descending trendline. Price has the potential to decline from or near the current market price. Elliot wave also shows a series of 1-2, (i)-(ii) sequence which could mean a rapid sell-off...
A golden trading opportunity for this upcoming second Brexit referendum on 12Dec19, yes you hear me right. It is no different to a second referendum when 1 party is pro-Brexit and another party is pro-Brestay. The UK people have another chance to vote what their heart desire, to stay in the EU or to leave. How the market will move, I've shared on my previous...