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GBPUSD - Following a 'pip perfect' week with GBPUSD last week, are we potentially seeing a market reversal/ retracement to the 'golden zone'? Failing to break the 1.33143 level last week and sitting very close, will we see a break or reversal? I believe a break of the ascending trend and retracement to the 61.8 Fibb level. Keen to hear your thoughts, please...
Looking at EURUSD, expecting another Bullish week as the USD weakens. You can see I have charted last weeks Support and Resistance zones, which should act as key levels in the coming week. Our Take Profit is set at 1.18846 which is just below last weeks High. Our Stop Loss is placed at 1.18400, this means price needs to break the ascending trend along with a...
USDJPY looking as though price has tried breaking the descending trend but failed / retracing back. Therefore, looking for a Sell order to follow the downwards trend :-) Let me know your thoughts!
Current Set-up for USDCAD. Price looking like its running out of steam and expecting the bears to come in shortly. A new Higher-Low has formed and we're looking to jump in on the sell off. News coming out of US and Canada this afternoon which could take effect on the markets. PLEASE REMEMBER TO LIKE, COMMENT AND FOLLOW FOR MORE TRADE IDEAS!! @newgenforex on all...
Using Fibonacci Retracement as my key indicator, you can see Gold has respected 23.6 level since the major bearish move last week. From also using the Stochastic indicator, you can we are current sat at 50. I would like to see price retrace slightly to the 23.6 level before making a Bullish move to the Golden Zone. With a 1.66 Risk to Reward, a promising set up,...
From using major support and resistance zones in previous weeks, I can see EURUSD is current sitting above the previous resistance (1.17570) which will now act as a support level. We've also spotted an ascending triangle, from here in expecting price to retrace to the previous resistance (now support) which would also mean a break from the ascending triangle and...
Following a Sell-Off at the tail end of last week, I'm expecting to see Cable recover some of its losses. We can see a new higher-low and now expect to see a higher-high developing. A continuation on the ascending trend. Following my current trading set-up, we will be aiming for a 1:6 Risk to Reward Ratio. Remember to use Risk Management correctly. I will not be...
Expecting price to reach yesterdays low, in reflection of how the market has traded thus far today.
as you can see from the charts, we are back on the descending trendline. I believe we have now created are new higher low and would expect to see a retracement to the previous lower lows.
GBPUSD looking bearish. Following the news of a second National Lockdown, we are expecting the Pound to loose confidence as the economy begins to crumble once again. With the US election around the corner, could this also have an effect on cable? Let me know your thoughts.
Using the RSI and MA. Price is indicating a bullish move to touch the trendline (will it break?) Constant news evolving around the US election, most USD pairs are volitile so trade smart!