Based on technical structure we could have two targets , 2nd being the bottom red line 0.70497. This has good risk reward and details on the chart. Two small positions only and goto breakeven when you feel necessary, latest target one.
On I break of 1.1360 which is long term resistance and current range resitance I will go long aiming for the two targets above.
Take profit at target one and Stop to breakeven at target one.
Price seems to have broken through the bull flag but resistance is still ahead at 1.13160 which is a long term resistance ...
This looks like a bear flag/triangle or even small range forming before interest rate decision. I am waiting for Thursday so I have not drawn the triangle too tightly.
It would be nice for a break to the downside before Thursday evening but this may not happen. CPI could also influence a move. Low CPI data could ...
Failed attempt to the upside and triangle breakout imminent.
I will be ready to go long or short depending on the side of the green triangle we come out on but favour a short. Two triangles at play and will trade both.
Sell Below 2038
Bias is down with interest rate rises looming and failure to make new highs.
Wait for confirmation before selling at 2038 as it bounced before.
Fundamentals should trigger the technical breaks to the upside or downside.
Fed interest rate hike must be getting closer
Long at the 382 retracement and trend line 1.5411
We are in a medium term (3 month) uptrend as you can see from lower lows on 4hr and daily charts.
BOE still hawkish on rates
Stop = 100 pips which is just below the recent low
TP = upper channel
Fundamentally a good short and following a simple pattern. 2 blocks down and one block up. A block being based on the 4hr chart and around 100 pips. Target 77000
It is obvious that people are selling every bounce possible so far.