After last Irish news which are have positive impact on GBP, GBP is gain power - technicaly good -
Chart time frame - WEEK
Time for reaching TP - 1 - 3 weeks
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GBPAUD Technical Analysis for the upcoming week.
1. The price level has reached a strong support level, but it didnt take much time to test the level.
2. The price has gone below the support level.
3. From the Daily Chart, clearly shown an upward Trend. So the price may test that upward trend line.
4. So for now I'm taking a Sell and Take Profit as to touch...
NZD/CAD @ 0.84150
SL - 0.84700
TP1 - 0.83400
TP2 - 0.83100
TP3 - 0.82700
-Technical and Fundamental Analysis is the same as previous CAD/NZD idea just with different entry, SL and TP's due to the fact my broker arranges the pair this way. Overall same principles and fundamentals, just different numbers.
Like I Would Always Say... Taking A Look At The Bigger Picture Makes Even More Sense...
Price Will Do Its Thing But Will Eventually Follow The Circles, Patterns And Sequence...All We Do Is Flow With The Ride...
Let's Keep Our Eyes Open As 1~Projection 1 Is About To Be Achieved..!!!
Happy Trading Guys... :)
As I Earlier Projected...Resistance Has Been Hit...And Price Has Reversed Perfectly...
Now The Big Question Is... Will Price Continue Down To My Projected Final Support Far Bellow As Tagged 3 PROJECTION..? Or Will It Rally Back Up To Our Trend Line Before The Main Trend Is Respected..???
I'll Like To Read Your Various Opinions.. :)
But Always Remember I Do The...
Price twice bounced of 168 fib, finishing bearish channel pattern. It can still make one more move down but we are waiting for upside break of the channel.
After price breaks channel, making new high from Friday, we can enter the market.
Forex is the most technical market of all in which discipline is even more important, and patience is extremely necessary to be able to wait for a trend to start.
In our strategies in this market the % probability of a trade being realized is about 40 times out of 100, and the average Risk Reward is 3 times out of the loss.
On EUR/USD chart we can see a strong bullish trend start. Now we will wait to finish the price corection and consolidation around 1.10330. As you can see we are looking for a possible buy in the next hours if th price will continue the bullish trend.
Stay tuned. Regards RoTradeAlerts!
GBP/USD is retesting the 1.20200 zone again, as you know from our past analytics the price was rejected from this support zone strongly in the past 2016.10.06, 2017.01.17, 2017.01.09.
So if the price will confirm this zone 1.20200 we will look forward for a possible buy position. If the price will break this zone we will come back with...