If you want 10x + leverage to the price of Gold 1.43% , and are tired of financial products like $JNUG or $NUGT or are unhappy with the fact that $GDXJ is no longer a true junior index it has too many big names. Then this is an amazing opportunity to get a good property in Northern ontario with possibly over 10 million ounces in the ground meaning you are getting...
We are going long GBP for this pair. There is clear divergence on the daily chart and weekly indicated with the white lines.Our stochastic's look good for a long as well. As well we have big support here with the triple bottom. The price has been tested 3 times and is holding. More to see on the weekly
Entry 1.7726 with the target being around 1.89
If this weeks weekly candle closes above the 20 EMA. I will be looking for a retest of the 20 EMA.
Once the following candle retests the 20 EMA this confirms a buy for me towards a price of 1.35.
Stop loss will be under the 20 EMA.
Keeping a close eye on USD/CAD. This pair is still looking quite negative with 5 consecutive weeks of declines. Price is sitting on the 100 EMA. If the price breaks the 100 EMA and closes under in the following week we may see fresh declines all the way down to the 1.21 price range.
Also Oil is still looking strong with higher high's further boosting the Canadian dollar.