Currently out of the channel GBPUSD is set to make lower lows which will give us a clear indication of a short opportunity within the market. As we have currently broken and retested the trendline we could see a potential fall down to 1.3040 with the helps of some positive data from Non Farm Pay Roll.
AUDUSD is showing major rejection at ~ 0.7160 levels following this level being rejected I can conclue that there is a potential buy back up to the top of the channel which would hit the monthly resistance level at ~ 0.8030.
That is the potential target however I am more than happy for 0.7690 to be hit however if we break through that level I will consider...
The pound is currently moving bullish ahead of the BREXIT voting this maybe due to investors pulling out of last weeks shorts. The pound could go either way, i think if we stay in the pound i will fall fast back down to 1.4300 levels if we leave we could see a rise up to 1.5300 maybe even 1.5700
We have decided to do a quick breakdown of the possible outcomes for the euro0.91% following the BREXIT! This is what we have come up with. A lot of people suggested a short for the EURUSD0.91% last week, however we need a strong daily bearish candle stick to break the channel in order to confirm this. As you can see last week we tried to break the channel but...
Big rejection form the 1.1000 it is possible that we may hit this level before a break down and through the trend however it is important to consider both options as we could break through this is resistance and head back up to 1.1070 levels.
AFTER A STRONG DOWNWARDS THIS WEEK WE CAN SEE THAT THE CHARTS ARE SHOWING A STRONG SUPPORT A FEW HUNDREND PIPS AWAY. WHILE IT IS IMPORTANT TO REMEMBER THAT THE CURRENT TREND IS BEARISH. THERE ARE STILL LONG POSITIONS SUITABLE TO TAKE