A potential short trade is busy setting up for this coming week starting on 12 November 2018.
Fundamentals will probably support a weaker GBP.
Economic red news releases include GBP: cpi, retail sales and inflation reporting.
Should all of or most of these news items be negative for the GBP, a definite GBP weakness will be experienced.
The fundamentals on the GBP provides a lot of potential upside momentum for the GBPCAD today.
1st there is the GBP manufacturing PMI, then the official bank rate votes and lastly BOE Governer Carney will be speaking.
The technical's indicate that price on the 4hr chart made a lower low and bounced of a support area formed a few weeks ago.
The latest political...
So, the USDCAD is showing some spirit.
A potential 60+ pips up for grabs.
TARGET: price level is 1.2940
This is only possible should there be a price pull-back on the lower time frames such as 15 / 30 minutes.
ENTRY: Ideal entry will be during the price pull-back.
Strong fundamentals still support the USD long side.
The lack of fresh geopolitical risk...
Here we have some interesting developments on the EURJPY.
The following idea at play: Long EURJPY
Trend confirmation in place on daily in line with Ichimoku Kinko Hyo principles.
Should the trend hold, it will be a very slow grind long side, no hurry here.
The idea should be approached with a set and forget mindset.
Optimal entry as soon as price cleared the...
Whichever way you look at it folks, 50-80 pips will be made available.
The red news release for the GBP-CPI might just do that.
See two possible blue scenario price action layouts should the red news come out worse than expected. There is also an orange scenario, should the red news come out better than expected.
Note the following price action: This morning...
After market opening on 9 April 2018 the GBPUSD moved just over 50 pips long.
Fundamentals still support another 100+ pips long.
1. The USD: PPI - red news due on 10 April is likely to support further upside price movement in the pair.
2. With the upside trend intact as per the Daily & 4hr chart, the GBP: Manufacturing production-red news release, should be...
When markets open on 9 April 2018,
this is possibly what might happen in GBPUSD price action.
Price might immediately entertain the following price levels;
First reaching for 1.40217 on the short side,
Then going long to reach for 1.41319,
and ultimately reaching and breaching 1.42013
(maybe in this sequence or maybe not)
Price action on EURUSD daily = short bias
Price is moving sideways since 29 January 2018
Applying a 30 pip stop loss and profit target of 30-40 pips.
Risk management approach gives a RR: 1:1.5 more or less
Remember, when it comes to price action, anything is possible