1)Price failed to break and close above resistance zone @ 0.99040
+ triple top formed @ 0.99500 zone
2) False Break and retest of descending price channel
3) Daily support broken @ 0.98402 zone
4) Previous Daily candle closed as an bearish engulfing
5) MA's spiralling to the downside
adding confluence to bearish momentum
6) A break of the trend line will...
1) Double top formed @ Daily resistance @ 109523 zone
2) Downside shifts in MA's
3) Previous/ most recent daily candle closed below resistance level
@ 1.84228 zone, if zone holds + next daily candle close below zone
will warrant further shorts.
4) Target 1 @ 1.80041
5) Target 2 @ 1.76786 = Daily support zone giving extra confluence
Bullish price action may see new swing lows @ 106.989 area in a few weeks?
as the pair has consecutively made Lower highs and lows.
1) Break and retest of trend line
2)strong resistance levels @ 114.467 area
+ downside moving averages
for further confluence for continuation of bullish trend conformation
3) Daily candle closed as an bullish engulfing previous...
Price failed to complete new swing low within price channel
1) Break and retest of descending price channel
2) Daily support held @ 0.98402
3) Daily candle closed as an bullish engulfing previous days
+ broken daily resistance @ 0.99040
4) Target 1 @ 0.96627
5) Target 2 @ 1.00398
1) Multiple price rejections for further upside @ resistance level 104.987
2) A Break of trend line & break of support zones 103.5352 & 103.358 will warrant shorts.
3) Target 1 @ 101.043
4) Target 2 @ 98.764
We may possibly see a new swing low if 98.764 is taken out
as on higher time frames the pair has been making lower highs & lows consecutively.
1) If price takes out resistance level @ 1.90523
2) longs to 1.95176 which is in confluence with 61.8 fib and 50 MA
3) If 61.8 fib level (1.95176 ) fails to hold as resistance further longs to 2.000
4) If 61.8 fib level (1.95176 ) holds successfully as resistance shorts back into 1.90523
200 Ma is holding as good price support hence, expecting price to pull back and test daily resistance @ 0.78019 zone before continuation of downtrend and break of trend line for short positions for a lower low to be formed.
If we fail to see a break of the ascending trend line and resistance @ 0.78019 zone is broken we may see upside movements towards 0.79000.
TRADE WITH CARE THIS WEEK AS FUNDEMENTALS WILL RESULT IN MAJOR VOLATILITY ACROSS THE GBP AND EUR PAIRS!.
A FULL ANALYSIS BREAKDOWN WILL BE UPLOADED ONTO MY YOUTUBE CHANNEL BedroomBillions, Follow me on Twitter & Instagram @ Billionsfx , for regular market analysis
Following the upcoming brexit referendum gbpusd is likely to see large amounts of volatility, the...
The pair has broken a strong trend line which has held since May 2015 , price has now retested this and bearish momentum can be seen to be resuming. Waiting for daily close for entry for shorts to Target 1
Waiting for price to pullback to deceleration zone and inner CTL highlighted to form lower high and for bullish PA to confirm movement to next downside target @ 119.896 = next swing low possibly.
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