The GBPUSD is looking fairly bullish now on the weekly chart as its RSI and Stochastics are turning up from oversold levels, while the MACD blue line appears to want to flatten. The first upside target is in the 1.63 zone, which is roughly where the 38.2% Fibonacci resistance level kicks in. The current bounce occurred off the 50% Fib support level. The 1.63...
We have a break of the trend line and double top with negative rsi divergence, a conservative entry would wait for a break of the neck line with a SL of roughly 110 pips and target of 150 pips
After looking at my GBPAUD dollar trade in the morning we noticed other head and shoulders patterns on the GBPCAD, we waited until the price broke below the resistance level and believe this trade will be completed within the next 6-12 hours. This is a pretty simple High probability trading set up and should be a really good trade. Trigger!
The trend is still bullish, but it can get ugly soon, or it will retrace & go up again. Taking a short now might be riskfull& against the trend. Take your trade when there is confirmation if it broke out of the descending triangle
After a stacked engulfing bull bar, price looking to breakout after 2 perfect consolidation bars.Triggering @ 1.6276. Looks clear to 1.6450 for ~ 175pips with stop at 1.6235 for ~40pips risk.
Friends, As signaled this week-end, this Wolfe Waves Pattern came across loud and clear. I would have expected a 5-prime adverse excursion as it often seen in the WW, but instead, price is moving along just fine. This is a M15.But, dDid you see this DAILY chart: - All prior discussion on the development of both patterns can be reviewed in the TradingView's...
We've arrived at heavy demand area. Pair should reman consolidated until we encounter a solid reason to break through this level or bounce up. Seems like situation will be simillar to the one when we were at this price level previuosly /yellow square @ Feb 2014/, yet the outcome might be opposite. I'd suggest playing it safe&technical now = from support to...
After the sudden steep decline of the EUR yesterday during the ECB interest rate conference, the EUR seems to have gone into consolidation vs the Yen, Dollar and Pound. Both the Stochastic and the fast EMA are indicating reversal intent but we're going to have to wait and see. Check those breakouts and don't let yourself get caught with a fakeout. For more ideas...
After some data releases came out we see GBPUSD retrace down to 1.6441, but i see a nice pattern kicking in by looking at MACD and RSI once again. Noticing gbpusd hits a low we tend to see a recovery back in the 1.6500-1.6600 region. Noting that the 1D 1H and 1W on GBPUSD are all sitting super low to on the RSI
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept. *Please hit the zoom-out button once* (or more if you're feeling wild) This may look like a mess, but the last few "bars" on the chart are holding some useful information! I'm sure I'm not the...
Cable broke from the previous range this morning with a move above 1,6610 marked level, after disapointing manufacturing PMI data it droped back and tested that level from above. If that breakout is valid then we should follow up now towards 1,666 ressistance level. Keep in mind that manufacturing PMI's aren't influecning Pound so much beacouse of how brisitsh...
Heads up for the Bat pattern guys. I'm still bullish in GBPUSD for medium term also.
GBP/AUD currency pair is close to an important support near 1,772 level which is 2014 low and possible wave 3 end. If we take away the fact that 5 wave structure should be in the bigger trend direction (which is an uptrend on bigger time frames for GBP/AUD) then the downside scenario is valid and if price manages to go lower then 1,772 low then way to 1,74 and...
After trading the Pound to the short side off after the March high E-Target was identified, it went into a consolidation pattern and though it came close to the 61.8% retracement, it never closed above it. This kept the Short N-target in play. Price has started moving away from the Tenkan-sen and I would expect to see a reversal sometime in the next two weeks...
It remains that the ongoing improvements in unemployment, a lagging economic indicator, coupled with a solid recovery should eventually lead to a rise in wage growth. As a result, the current weak earning growth may not reflect the current health of the job market as it is an even more lagging indicator than unemployment. Furthermore, the 2-3% rise in the national...
On this pair here is what i think is going to happen: First the pair would go short until it reach the 382 of the july 8 2013 trend up. Now im not saying it would go beyond that but im not saying i wont. Depends on the price action, now we should take profit in that area after making some in the short trade. Observe that this is a weekly chart and if we are...
This pair found support at 61.8% Fibonacci retracement of the last big swing high. This level was also a great bouncing zone in the past. Recently on the first bottom of the pattern, RSI was extremelly oversold. Action: wait for a double bottom to complete at that level and buy next candle if RSI bullish divergence is in place.