GBPUSD has approached for 3rd time in recent hours dynamic level at 1.5060.
Likely scenario: following positive EURUSD dynamics, GBPUSD closes above 1.5060 which confirms buy entry targeting 1.5160 area.
Alternative scenario: kick down from 1.5060 to 1.4970, then another leg up to 1.5160.
This idea is an updated view on a broader GBPUSD...
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Probable scenarios for EURUSD:
I. Impulse test of orange support line at 1.0520 (shadow down to 1.0480) and spike up to 1.0670 and 1.0720. Look for additional confirmation with close above with 1.0590.
II. Further decline...
I. GBPUSD has tested weekly support from 2008 highs.
II. On 4-hour timeframe GBPUSD has tested and bounced twice from dynamic support created by connecting minimum levels from 08.Jul and 04.Sep, 1.5330 and 1.5163, accordingly.
III. Hourly timeframe confirms 1.4910 support level and...
Since 09.Nov USDJPY makes up a probable flat correction in 123.60-122.30 range. Currently pair rebound is stopped at pivot point 122.85, where descending red trendline from two local highs (close values) meets control line from 26.Oct - 05.Nov highs.
USDJPY close above 122.85 would indicate following 123.60 test and growth up to 123.90-124.10 area.
EURUSD did inverse test of dynamic level (red line), a rebound from it confirms EURUSD long. Put stop below intraday low 1.0615, resistance marked with dark line, target set below R2 daily pivot-point 1.0690.
AUDUSD started its decline from 0.7140 on Thursday and was stopped by short-term support level 0.7090, created with two violet trend lines. After rebound AUDUSD has returned to previous order's open level.
As displayed on the chart, 0.7140/60 area is strenghtened with a few dynamic resistance points. Expected scenario is AUDUSD decline targeting 0.7050 and...
GBPUSD remained in the ascending channel range. During today GBPUSD is sitting on channel's lower line currently at 1.5210, a confirmed break below it is needed to open SELL order.
*If GBPUSD retraces back into channel, it rises to 1.5260, 1.5285 (follow yellow lines above).
Since 12. October AUDUSD is moving in a descendeing channel with current range 0.7140 - 0.6940 that reflects main trend direction.
At this moment I expect developing one of the outcomes:
I. Rise above 0.7080 (entry) and test 0.7140 (target), stop 0.7050.
II. Fall below 0.7040, test and break of 0.7020 (entry), decline to 0.6945 (target), stop 0.7050.
EURUSD on daily timeframe has broken down descending trendline from May 2014 top 1.3993 in projected area 1.1040. This level should be considered pivotal for EURUSD on Monday: another close below it would confirm next bearish target 1.0815, while rebound above 1.1040 would support EUR.
Green trendline from 20 July on 4-hour...
You could trade EURUSD since 19.Oct with just one dynamic line from 01.Oct low 1.1132. At the same time EURUSD has got confirmed resistance at 1.1380.
Would we see breakout from narrowing range before ECB meeting? I need your guess.
OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes!
MA's crossed bearish
Bearish engulfing candle (January)
Broke major support at 137.000 & Retested
Next monthly support at 115.00
Weekly engulfing candle +...
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