Happy weekend traders!
Sterling slump after BOE easing monetary measures which sent the market down more than 200 pips followed by some positive job numbers yesterday with NFP adding fuel to the fire.
Technical see resistance level at 1.3050-60 zone where as long as market holding below this zone more drop will be expected toward 1.2900 levels
Above 1.3210...
GBPUSD has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD and the RSI are favoring a bullish breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD formed a falling wedge from the July highs at 1.34768. A bullish breakout of the range will result in...
Daily -
We can clearly see a descending broadening wedge, which makes this pair Bullish in long term, however I would like to see this pair hit the bottom of the wedge before it heads up, if we do break the blue trend line, its a safe to say to sell after a small consolidation, if we don't then we shall continue heading up.
4hr -
The 4hr time frame also shows a...
I was looking for structure to break and hold through the New York session but USD bulls lost the battle. The retest of the weeks high shows the market pricing in the fed meeting so I look forward to another test of the weeks lows before a leg up to test the month of July highs. In a perfect world the pattern completions would trade along with the Fed meeting.
Hey Traders, I'd really like to know what any Faders think about about this chart.
July 2016: Lowest Low Recorded Ever.
What do you think is next based on your experience and expertise. All opinions are welcome!
Pivot: 1.3235
Most Likely Scenario: short positions below 1.3235 with targets @ 1.3100 & 1.3045 in extension.
Alternative scenario: above 1.3235 look for further upside with 1.3330 & 1.3425 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3235.
Overview:
The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It...
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an...
PLAN Next week
Watch out this price if it can break TL and go down
It will end the impulse uptrend and going to downtrend.
I will wait for break TL (Buy1) and, maybe, it will TB to meet TL again (Buy2).
I think the downtrend is finally over by breaking my trend line after 8 months of build up. The retracement is already done, this pair is ready to be bought.
Great ratio regardless of which TP your aiming for.
Guys......
Seems very timely a month from June 23rd, please see attached charts for previous success with this pair in particular.
Everything is on the chart for this one, we will be following and updating this closely over the coming weeks/months.
Like and comment your thoughts below,
TheBanker.
www.tradingsignalreviews.com
Rarely wrong on cable, as I mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level.
GBP/USD
Overview:
Market still has room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this...
GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment.
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it...
The ECB meeting has triggered an upside break above the daily trend line.
Price will pull back inside the trend line and most likely to the 50% fib level at 1.42514 before breaking becoming exhausted which will present a long entry.
Price is likely to advance to the 76.40% fib level before it becomes exhausted and is likely to consolidate pending another...
