The recent closes have seen the FTSE 250 close above the downward sloping 1/1 line suggesting we are into more bullish territory. The recent rise may have been too fast but i can see the Uk mid cap index rallying into the downward sloping 2/1 line. The only concern is the divergence of the MACD histogram. There was a strong close today though
we have had a nice run since October but can it be sustained. The MACD histogram seems to be diverging away from the rally. Can see this running up into the 3/1 line but would need to push through it for the santa rally to start. Would like to see a break of the upwards 1/1 line before entering a short it were to go that way.
Was a little worried by the pair confirming the downward trend. The break upwards suggests a long position is feasible. MACD has crossed into positive territory and the RSI is trending upwards. Given long trade on EURUSD i won't be backing this as well but it adds to conviction about a retracement of the GBP and EUr against the USD. the issue is that none the ...
GBPUSD looks like it could have continued downward trend. Both indicators look like we could be heading lower as well. The two lines of caution have to be the (blue) horizontal line of the price chart. Also the upward (green) line on the MACD. It would be good to see a break of both these points before trading.
The tight stop at the blue down ward trend line proved useful. Nice profit from top of the channel to this point. the RSI has broken through its trend as well. MACD still waiting. Whilst a move to the bottom of the channel is still likely - looking for the next resistance (the long blue line above the current price) as the potential entry.
The ride has continued on the lower half of the trend, Looks like we have stalled at the current level but could we soon resume to the bottom of the trend? the next question is what happens from there. The RSI won't show any divergence vs 17/09 (red lines) - could this suggest the downwards trend continues. However looking back a little further to 9/09 (Blue ...
recent divergence of both MACD and RSI suggest we are into the corrective phase. In the ST it appears we are in the III wave of the a correction. Can see this topping out close to the 1.2983 level or the higher 1.3035 level. From there the corrective B wave and C wave should follow. The c wave should see a retrenchment to either 1.3035 or 1.3133