long position on a strengthening USD. SNB has stated the the would like a lower CHF as it its currently overvalued
HL has been broken and i predict a bearish move, coupled with a brake of the 61.8 fib from june 2017 i predict that price action will fall towards the 38.2.
i can see a potential head & shoulder position forming. coupled with bearish divergence on the daily chart and possible bearish flag pattern coming into play.
here i can see a potential inverse head and shoulder on a 1 hour time frame.
strong fundamentals backing the dollar index. price is forming a rising channel
price has hit resistance and looks to be heading down to 1.15000 level by the end of the year.
price bounces off trend line and 38.2 fib and holds on weekly support.
gbp/usd is at major resistance will wait for a close on a 4hour candle before deciding where to place my entry's. i do excpect a small pullback.
we see a bearish divergence on the rsi and a pin bar candle on the 4 hour chart. we can see that price action is having trouble moving higher even with positive AUD employment data. we can expect price action to move lower to test the previous trend line at 86.900
long term projection. SNB has stated that the price of the frank has been overvalued and is effecting export prices. SNB is not looking to raise interest rates in the near or intermediate future. with sterling looking likely to raise interest rates in the near future we can expect that price is likely to rally substantially in the next few months.
i expect price to test the trend line from November 2015. at the price of 0.88000. before i shoot back up to 0.90000
i assume a bearish trend down towards 1.24200 level. BOC is expecting another rate hike in October which is why the market has been buying the cad. with strong wage growth and employment the cad is in a stronger position the usd. the fed has been dovish of late about a 3rd interest rate hike in September, even though there has been a improvement in employment and...
trend line has been broken & closed on a daily chart. signal for bearish momentum to continue down. RBA has stated that a higher aud dollar is bad for the economy. market is going for a price correction.
clear down trend. weak economic data from uk. usd economy is in a much stronger position. fundamentals. simple.