GBPUSD has formed an inverted head and shoulder. Price has broken up and out of the neckline and has retest it. The target may set as 1:1 to the distance of the neckline to the head, alternatively, it may also set at a resistance/order block as shown in the chart above.
DXY // USDINDEX // USD // DOLLAR
👉🏻 93.220 now holds as support. Morning's news on Evergrande and the Hang Seng Index have led investors to start pouring money into 'safe havens', USD being one of the options. Bullishness is expected in the short term. FOMC news this week, so trade cautiously!
SOL // SOLANA // SOLUSDT
👉🏻 Many have asked for the hottest coin of August: Solana. On the H4, it has broken below the 50ema, possible collection area is the 200ema, which will be around $130-$135.
👉🏻 Same trade setup as last week, lower timeframe is forming a bearish flag pattern, which will then complete a corrective ABC movement before continuing its up trend. We could see this strength of EURUSD at the end of September 2021.
H4 Trade Setup
👉🏻 Mentioned last week that 1795 can be an area to enter long, but Friday's break below 1791 could mean otherwise. With the possible gains mentioned in DXY, we could see a selloff to at least 1760 area which is also the 50% retracement level.
1690 area marks is the yearly lows, doubt it will reach close to that, yet breaking it.