Much of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been...
An April 12th deadline is now looming above the heads of Europeans and the British as the UK find themselves situated as the estranged husband who refuses to sign the divorce papers. Right now there are six main scenarios: 1)Revoking Article 50 and cancelling Brexit 2)Another referendum 3)May’s deal plus a customs union 4)May’s deal plus both a customs union and...
Same as GBPJPY, sterling is very bearish right now. The set up was based on a simple break and retest of the support/liquidity zone (the blue stripe). We can see a huge green shooting star rejected the zone. The spike is more or less due to the FOMC announcement, which also wiped out my other two trades. Then, on the 1H, we see an evening star formation, where I...
Currently looking to go long on this pair. Price is in a down-trending channel, I want to see it retrace to the .5 fib level.
With so much uncertainty surrounding Brexit, do key technical levels still have relevance on the Cable? The short answer is yes as major news is usually priced in before any major reports are actually released (ever hear of "buy the rumor, sell the news?"). However, it is still critical to pay attention and stay up to date on any major releases; the market can...
Interesting move today for the cable which is already up 1.14% at the end of the week. Market is now expecting a soft brexit rather than no deal brexit. Technically the pair is gaining bullish momentum since it broke above the 200day SMA at 1.318 and will likely close above it weekly. Also, it broke a descending trend line shown on the chart which shows a...
Yes yes. Bull on ol boy. Ideal circumstances to buy wouldn't you say? 1.28696 tp & sell 1.26966 tp & rinse wash repeat Then maybe we roll around with the bears after that. Bottoms up!
Going short, let's see where it will bring me :) -This trade is just to monitor my own trades, not trading advice
Cable has reversed strongly off long-term support at 1.27 to reverse the short term downtrend Preference = go long with the trend reversal Scenario A) price pulls back to 1.283 before continuing to 1.30 Scenario B) bullish momentum provides no short term dip-buying opportunities so wait
Here on the GBPUSD currency pair as previously noted I have analyzed and review a harmonic pattern signaling bears to enter the market. I believe the bears are still in control and throughout the week we will begin to see an aggressive decline. I would love your feedback and happy trading.
- Breakout of parallel channel - Confluence: 61.8 fibonacci level rejection on H4 which happens to be my H4 resistance level (1.3210) - EMAs crossover with price action below supporting bearish bias - Bearish sentiment on sterling with uncertainty looming over brexit - Price seems to be heading back towards the 1.3000 psychological level - 60 pips target with 30 pips stop
Hello my friends, As you saw my last pound analyse you can remember that we just reach our first long target and after a forming a bearish wedge,dropped,Till now all things was natural and look like it is time to short it again,but when you look at chart more accurate can see we have an IH&S in chart.look at it: It man if we can break neckline,we can easily break...
The British pound remains in a downtrend for now- but appears to be transitioning to a sideways range from 1.305 to 1.335 Fundamentally what Trump says about a US trade deal (GBP negative) matters less than improved chance of a soft Brexit from new UK gov whitepaper (GBP positive) Scenario A) Downtrend pauses -- Price rebounds from 1.305-1.31 support zone to...
There are a few things in life that you think will never happen. Brexit was one of those things. With the continued uncertainty surrounding the exit from the EU, will we also see Parity with the US dollar or will the UK Government strike a deal? Trading Forex / CFDs is High Risk.
Cable has been in a long-term down trend for 10 years, it never recovered from the highs of the 2008 crash up @2.1 (those were great New York and Chicago shopping trips), we had a 50% fib pullback into 1.7, continuing the downtrend to 1.6 by the end of 2017, Cable was already falling before Brexit. Since 2017 we've been in an uptrend within the boundaries of an...
Over the next few day's we have various reports coming out for this pair, and we have the Brexit negotiations going on which, will almost certainly have a negative impact on Sterling. Interestingly, both economies are performing well when viewed through the prism of reporting metrics but compared with the US$, Sterling is still going to be the underdog, but while...
Start of the pound recovery? Possible idea if 134.000 breaks