As Brexit uncertainty looms and the British economy is put under more and more pressure, we can see the possibility of the Cable returning to its all-time low @ around 1.20000 (a drop of 800(0) pips from it's current location).
It differs from the uptrend of 2017 in that the bull and bear fights are a lot shorter-lived as short-termism becomes a factor in the new...
Previous price zone has been breached (see this chart for previous zone: ) and we are finally seeing strong downwards movement into our next trading zone. We can now expect all future trades to take place within the 1.15800 - 1.08000 range.
I am now anticipating the pull-back and re-test of the previous...
Here we go again - for the 5th time this year. Will the Australian dollar be able to break free from it's downwards plummet against the US dollar?
Or will we see yet another bounce off of the VERY strong resistance? I think we might just.
But for now, let's put our faith in the dollar to climb up to the resistance. More updates soon.
It would seem that the Fiber is ranging in an upwards trend with the next movement expected to be downwards back towards the 50% weekly Fib line (1.15300).
NFP is also coming up in a few days and expectations for the dollar are low. Is the recovery of the EURO finally happening?
Will be updating this chart regularly and doing an NFP-day update on the day.
So here we go, the big break-out we've been waiting for - or is it? Let's assume that the USDJPY pair continues it's upwards march towards it's June 2015 high, we're then looking at 3-6 months worth of upwards movement and thousands of pips.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below...
S&P and DJIA up 0.3% and 0.6% respectively
US CPI to rise 0.2%
Weaker EUR economy, lead by weak German production
Head and shoulders pattern
For a long time I've been Bear-biased on EURUSD, but it seems that we might just have a head and shoulder forming within the triangle.
Possible trading options would be to buy low @ 1.16500 or sell high @ 1.19000. Both require patience and a good entry point.
For the buy:
For the sell:
TA indicates a bounce off the slanted support line, followed by a 'fake out' to the 1.0000 region, as before. This would be a good time to open up a short position.
We should then see a sell down to the 0.97500 region (and possibly below). Remember to keep in mind the retracement areas to take some profit and/or re-enter.
Observing how previous bubbles have popped, I don't think we're just quite done with the overall bearish trend of BTC yet.
Taking into considering the movement and Fibo lines, I believe BTC has to reach the 5000 dollar mark before fully recovering.
Going long right now and not having the patience to wait out the trap could mean losses.
Good news is that if we have a breakout, we'll soar upwards to the last high of the month.
Other good news is that if we fail the breakout, we'll plummet to this month's low.
Either way, HUNDREDS of pips of profit are going to be made. Or lost...
Volatility is currently low within EURGBP and we've seen the price ranging for some time now. We should witness a bearish breakout should fundamentals and reports back it up.
If Bollinger bounce occurs, we will see price go bullish up to the 0.87900 region.