This is a MTF killer zone, its drawn when yesterday or the last period closes, it so powerful.
The way I use it is buying and selling as a support and resistance (but it's not support and resistance ), or at a retest when it break, and if it not being touched by the price today or in the current period ... than the zone will be still valid for any time in the near...
With current events and fresh levels looking likely on Monthly timeframes - we can see GBP & XXX major, minor pairs to see heavy movement for appreciation for Sterling.
As the UK is seeing the vaccination being used from Monday, most likely and last minute negotiations for Brexit.
If the parties can agree a deal at all, the surgence of relief will...
HERE'S OUR ANALYSIS OF GBPJPY
WE COULD SEE EITHER A CORRECTION TO THE 135-136 HANDLE
OR CONTINUATION TO THE 141-144 PRICE POINT
PRICE DID CREATE A NEW WEEKLY HIGH THIS WEEK AND HAS SURPASSED MARCH HIGHS BUT FAILED TO CLOSE AT THE HIGHS THIS WEEK
SO WE COULD SEE CONTINUATION COME SUNDAY MARKET OPEN AUGUST 16TH
INCREASING WEAKNESS IN JPY NOTICED...
The pair is near the support level at 136.00 and 0.618 fibonacci retracement.
The Bank of England announced its monetary policy, raising the outlook for growth and inflation in the UK, and hinted at the possibility of raising interest rates.
Wish you good trades!
We are fast approaching a conclusion to the Brexit story. While no deal Brexit chances greatly increased over the past week with a short extension of April 12th, UK Parliament is still weighing over whether or not to pass May's deal, a rejection of which would even further heighten the chances of a no deal Brexit. If the House of Commons can pass May's deal, then...
Let's keep this short and sweet.
Three charts, D for trend direction, 60 to spot trades and 15 for precision entry.
If you look at D we're close to strong resistance(the big red circles), we're not quite there yet, that would be closer to 0.86, so now is not the VERY best optimal entry timing. However, this strategy applies to future trades. It's up to you if...
GU wicks have been crazy, but we cannot ignore the fact that it has failed to close the 4 hour candles above key daily level, that keeps my interest peaked for a short, now that brexit hype is over and DXY is hovering around support.
Targets are clearly marked, entry for a short at key daily level marked in red and stop loss is flexible for me. I would like to...
GBPUSD has took a small hit today and I'm projecting the bullish momentum to continue now, with 2 strong daily closes above the 1.3 level, I am seeing clean protection of this level and DXY had a good chance of making new highs on Thursday and failed again, forming a triple bottom.
Fundamentally Brexit headlines are emerging each and every day and it looks like...
There are a few things in life that you think will never happen. Brexit was one of those things. With the continued uncertainty surrounding the exit from the EU, will we also see Parity with the US dollar or will the UK Government strike a deal? Trading Forex / CFDs is High Risk.
GBP/USD struggles to bypass monthly PP
In line with expectations, the overall optimism related to progress made on tax reform and decreased probability of a government shutdown continued to push the cable downwards. Although the pair has crossed the 200-hour SMA, the further plunge was temporarily stopped by the monthly PP at located at the 1.3372 level. But...
HI guys! my idea is If the news release and pound regain strength GBP/USd could shoot up to an initial high of 1.2790. This was the first post brexit low and the Resistance awaits at 1.2850
IF the scenario turn upside down, GBP/Usd could fall sharply 1.2415 the initial support and followed by 1.2360, 1.2250 and 1.20.
Please trade carefully while trading using...
Eurgbp gapped up this morning and is now hovering around the top of a descending channel that also lines up with the 50% fib of last move after a few rejections. if we stay below the 50 on a 4 hour candle close that will present a short opportunity down to test the longterm 50% Fibonacci from the brexit rally at 0.84160
We can go long the Aussie here, or if we don't see bearish follow through in the next 3 days if more conservative.
Stop loss should be below 0.7392.
You can either take it at market or wait 3 days to jump in.
Until FOMC is out I don't expect to see long lasting directional moves in the dollar, and neither should you in my opinion.
We have a good opportunity to take USDCAD longs at market price here. Risk a drop to 1.2758 which would nullify this push. Oil is most likely at a top, so I expect this to progress favorably for FX traders.