It seems EURODOLLAR will have some correction over the 2nd qrt . The current H&S formation has been triggered and we may continue towards the 1.15 levels.
GBPUSD has reached a major level. From this level, sterling should have some retracement towards the 1.28 level. Sell GBPUSD at 1.31 with stops above 1.34 and targets at 1.28
GBPUSD has broken above a key level 1.26. We seem to have a confluence zone at 1.26. Where the price has broken a key level and Fibonacci retracement level 61.8 are near the same price. This enables a possible buy opportunity at 1.26 with stops below 1.25 and targets at 1.28.
During the European session, we have seen GBPUSD being bought. For a buy signal to be generated we would need to see the price pullback towards the 61.8 Fibonacci retracment level. Once price reaches 1.2550 Buy with stops below 1.2530 with targets at 1.26. The trade should meet its target buy the US close.
Please see the chart, We currently are seeing a retracement with the GAP being filled. We may possibly have an opportunity to short Brent between 44.50 - 45.50 with stops above 50.50 and targets at 37.50. For this trade to be confirmed we will need to see RSI divergence at the completion of the fifth wave.
Please see the chart. Currently, EURUSD has seen upside. The pair is consolidating forming a falling wedge pattern. Alongside the technical chart pattern, we are also seeing RSI divergence.
The current recommendation is to buy between 1.12 - 1.1150 with targets projected at the 1.1450 level and stops below 1.11.
