The GBP has been strong for the past couple of weeks. Manufacturing was up last week, earnings were up, and unemployment was slowly shrinking. The vaccine rollout in the UK has gone relatively smoothly in comparison to other major economies, so there's a case for recovery and a strong GBP fundamentally.
However, the Pound basket has an existing resistance around...
Camarilla is the one of the best indicators, if not the best. It is better than classic pivot points.
It detects the most important daily, weekly, monthly and yearly levels that you would have hard time to find yourself.
It is leading indicator and plots ahead of time (day, week, month, year) and its static, does not change.
It is a rule based system of its own...
For the time being, the pair has just past the middle trend of its rising channel and has touched its falling trend.
(+) 1.17 level will be the target for the future. Apart from that, 1.20-1.21 levels should be followed if the price wants to touch the upper point of the channel.
(-) However, if prices come back from here, 1.12 will be a significant boost...
Hi traders, as you see GBP index is about to complete that running flat, so nice wave to the downside is expected there. It will probably correct on lower tf for that last push to the upside, i see price retesting that trendline and fib 0.618. Dont rush, wait for price to complete that pattern and confirm that drop first! After that i will be looking for price...
Summary: The market narrative is overwhelmingly positive for a reflationary rebound and for a weaker US dollar in 2021, an outlook we are largely sympathetic to, but plenty can still go wrong, and the speculative fervor of the momentum is the most clear and present danger for a correction sooner rather than later. Elsewhere, the Brexit deal was the dampest of...
Long story short: EMA14 and EMA 50 crosses each other after long wick candle touched PIVOT POINT and there was very strong BULLISH candle in exact spot which shows that market just has changed trend, by the way, long wick candle landed perfectly on FIBONACCI 0.618 which confirms my analysis, so now we wait for a pull back till 1.103 and then we can put our...
Before completing the pattern You can sell and
TP1 is : 1.1010
TP2 : 1.0990
and sell loss is : 1.1130
After a downtrend when the pattern completed we can have a bullish trend .
Tell me your ideas and GOOD LUCK. 😊😊👍
Huge wedge on the monthly been getting held down for a long time, Weekly recently taken out the lows- strong bullish momentum, levels gained
Currently backtesting downward trend line
Looks good for a long (presuming this is not a false breakout) stop loss under trend line