UK elections on Thursday
GBP has had a run-up on the back of polling data which shows that there is a consensus for a Tory majority government.
As the election day gets close - it should be expected that the GBP falls into a trading range while we wait for the outcome.
The weekly pivot would be the most obvious place for the GBPJPY to find a level to jump off...
The US CPI figures and Retail data points should give the USD a boost if they come out as expected.
The last FOMC meeting also comes with economic projections for 2020 and this is where the USDJPY could find the momentum to rise.
If the UK elections go as currently forecasted with a Conservative majority, the Japanese yen should not be the go-to safe haven,...
I’ll be watching UJ along with US Equities & Gold to gauge whether or not this setup is truly risk off.
Ultimately, it is likely to bounce before a larger countertrend move to the downside. If no immediate rejection from the zone identified takes place, shorts could get rekt.
Whether up or down, a setup should materialize. Short term bullish, medium term...
CHFJPY has reached a strong resistance level on 4H/
formation of a double top pattern and rsi divergence leave us a clue that bulls are exhausted.
bets are high that we see a strong bearish reaction from the underlined resistance.
our confirmation will be a bearish violation of minor support on 1H.
Wait and sell the...
Risky, because it is GBP :)
A possible short-term reversal should stay inside the marked red box. It consists of:
1. The trendline, nice and clean touches, waiting for the third.
2. The orange horizontal line is the previously worked support level which now should act as a resistance. They both make up a solid crossing area.
3. Short-term AB=CD
4. The mid-...
GBPUSD is standing on a strong resistance!
I believe that the price may retrace from the current higher high level.
For confirmation, sell the breakout of the minor support on 1H chart.
After a breakout we can expect a drop to the support line of the rising wedge.
USDJPY Remains bullish.
I believe that buyers will go even higher and our first pivot point is 110.0 level.
This level combines a horizontal resistance and a rising trendline.
Look for a reversal formation within the underlined area to short the market.
Target levels are: 109.5 / 109.0
CADJPY has recently reached a support line of a rising channel.
it looks like the market has respected 81.5 structure support and we see a buying reaction.
Pay close attention to a falling wedge pattern within the channel and buy the market in case of a bullish violation of the wedge.
Target levels will be 82.8 and 83.5.
Tendency: Uptrend ( Bullish )
Structure: Harmonic | Gartley
Observation: i. Using Fibonacci ratios, the retracement between point X and point B is approximate of 61.8%.
ii. At point C, expecting the price to reverse to point D (Demand zone).
after breaking below the support of a symmetrical triangle
the market has retraced and now it is retesting the broken support.
broken support matches perfectly with a horizontal structure resistance level 109.6
I believe that bets are very high that we will see a bearish continuation in the direction of the...
This is another follow-up plan to speculation published earlier (see link below for reference purposes) where we enjoyed 85pips bearish move. See below our plan as breakout pattern surfaces!
Tendency: Temporary Uptrend ( Bullish )
Structure: Bullish Rectangle | Breakout
Observation: i. Price action has occurred over...
Here's an entry taken off of the inverted head and shoulders pattern. As always stoploss, entry, and targets are provided live when we enter the trade on our end. Stay tuned to our page for updates. Keep in mind that it's thanksgiving.