PipPipHooray75

PipPipHooray75

on H1 we have a good decending channel lower but there is resistance at the moment on the 0.6920. We have some Canadian employment data tomomorrow which if a better than expected result may see Loonie go higher and strike out past 0.6950.If it breaks then a definate rally to 0.7000 would be the next target. It can be a slow burner this pair but with the right...

PipPipHooray75

Since yeserday this pair has been back on the up. M30 shows a nice clear channel but this morning it looks like the support of the channel around 0.382 Fibonacci level has been broken and we could be seeing a breakout here if the bulls don't like it. We either have a trade back into the bullish channel with a target of 1.3618 next Fib level or the breakout will...

PipPipHooray75

Could be a long postion here for 20 pips whilst we wait for a decent channel confirmation. Support of possible channel and fib level first target

PipPipHooray75

The big question here is have we missed the breakout? It's made its mark again on the Asian session, this was one to watch as we had a lot of tests of resistance on this pair. We have now seen a 40+ pip breakout but will it continue? The UK market liked it so far but its always risky going with the break once it has happened for a few hours. I've decided to go...

PipPipHooray75

So the potential breakout has happened before the UK markets opened. Break occured this morning around 7.00am and was confirmed by the second M30 candle starting outside of the support area. A great 20 pip probing break has happened and we are now around the 1.2485/75 area. I'm hoping that this mornings market will go with it and eye the first Fibonacci TP...

PipPipHooray75

After another morning retest of the support and it's looking likely that we are still heading south with this pair. Looking around 1.9090 sell for a 30 pip profit. Should be safe with our SL set around the 1.9130 area. The bears still have this pair.

PipPipHooray75

The fortunes seem to be on the up on M30 for the cable now. Construction PMI comes out in just over an hour and could be the lift this pair needs to really stretch its legs above the 1.2500 mark. Look to be a good opportunity at the moment with the support on the small 30 pip channel that its been in for a while now. A trade around 1.2485 could be good pippin on...

PipPipHooray75

This pair entered a bearish trend since last weeks 2nd July. since then we have a small 30 pip channel where since then there has not been a lot of big moves. The overnight Asian session has continued the sell but now are we looking at a trade of the support level of 1.3525 in this morning's europe session? We can either see the sell continue this morning with a...

PipPipHooray75

So, since the breakout of the bullish channel on the afternoon on the 30th June, this pair has been ranging in a 55 pip channel for the last couple of days. It looks like we have a key support level of 1.3550 which has held firm 3 times in the last 2 days. This morning there looks to be a long trade opportunity off support, eyeing the fib level of 0.236 which is...

PipPipHooray75

Looks to me from my M30 that we now have a new support level and the cable is finding a new bullish trend, eyeing up the previous high of 24th June 1.2543. With the NFP's after lunch I'm looking for a single trade today taking advantage of the momentum. Should see some GBP strength this morning so going for a 20-25 pip trade. SL set below the support around the...

PipPipHooray75 Updated 

After yesterday's breakout of the bearish channel, the cable played out the rest of its merry tune between the 0.5 and 0.38 Fibbonanci levels. These look like holding as support and when you add in the new bullish channel it looks like we have a trade on the open. I'm going long at 1.2370 and waiting for the morning open to carry on where we left off. TP is...

PipPipHooray75 Updated 

Looking at H1 the EUR/GBP seems to be hitting the channel support level and has the EMA200 acting as support. Its still bullish this pair at the moment so one to watch for a trade of the bounce. If so, I shall trade at the 0.9063 entry and go for 20 pips.

PipPipHooray75

Will this come back into the bullish channel this morning? I'm looking to enter around 1.3700 for a TP of 1.3720 if thats the case. I can't see this breakout of the channel sustaining so hopefully we will get an entry this morning.

PipPipHooray75

After the breakout was made yeterday of support, there was a 40odd pip break. However its now looking like retracing and its already back at the old support level this morning, now 1.3688 area. If we a break above 1.3700 area i will look to enter long at 1.3700 and first TP area of 1.3720. Let's see what the opening looks like soon here in the UK.

PipPipHooray75

The cable has pretty much traded within the channel, it's tested both the resistance and support levels. I am thinking my next target may be the 1.2382 level, either for a bounce or a breakout. Either way it makes for an interesting trade, either 50 pips to resistance or are we going to see another test of support. Both have been hit 3 times, its going to go somewhere!

PipPipHooray75

The cable has been in a bearish trend for some time now, there's been no fundamental news to break the trend and with the mortgage data coming out at 9.30am today I'm looking for a short trade. Set my SL at 1.2400, outside of the resistance level on the M30 and allowed 20-30 pips TP around the 1.2340-1.2330 area. Support is at the 1.2317 level. Unless there is...