on GBPCAD next week I will expect bullish continuation in a rising parallel channel.
On my focus will be a supply zone around 1.64 level,
I will be looking for a short trade in this area.
Bearish breakout of a channel will be a perfect signal for us to open sell.
Target levels: 1.62 1.60
Le taux de change GBP/JPY pourrait selon moi prolonger son rebond en raison de plusieurs éléments :
1) Le cours a rebondi sur un support extrême
2) Il a formé un "pattern" de retournement à la hausse en données hebdomadaires sous la forme d'une ligne pénétrante (piercing line)
3) l'indicateur RSI en données hebdomadaire est repassé au-dessus de la borne à 30,...
the market has recently broken a neckline on GBPUSD and now we have a perfect
chance to catch the retest of the broken level.
look for long trade around 1.218 level.
Target 1 - 1.229
Target 2 - 1.327
Stop - 1.209
The wave "iv" is developing. Although its internal structure looks staffed and the guidelines of alternation are also observed, at another rate it’s desirable for it to shift the blue channel sideways/up. Therefore, I consider both the possibility of complicating this wave to a triangle and simply the growth of the wave (C) of inside it
According to the rules,...
In this chart I see 2 possible scenarios and they both lead to the same direction
The first option: A standard ‘small’ correction which results in a regular 3-wave correction as the third overall wave.
The second option: We get a longer correction that will bring a strong pull-back to the green trend line and then we fall, which means we will have...
The EUR/GBP on the 4-hour time frame has been following a downtrend recently. The price broke below 0.90300 on 22 August. Bears are pushing the price lower as key technical indicators are supporting the bearish move. The price action in the EUR/GBP is mainly driven by the recent strength in the GBP. As of writing, the price is hovering around 0.90500 with negative...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2195.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.2175.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
. There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPUSD is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Right now its a buy but price might also break the trendline (what will be very hard, strong support - see to the left). At any case we are at important crossroads here. We might also see a range along MR1 as a year ago.
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Very bullish price action and short term pullback.
Bearish waving market with several pullbacks.
Overall bearish market turned bullish mid term.
Expecting prices to push above previous...