Price is now on a major resistance.
The Stochastic RSi for 4 Hrs, 3 Hrs and 2 Hrs timeframe are on the oversold level.
The 3 Hrs and 2 Hrs time frame will synchronize by 4pm GMT
A 2:1 risk ratio is advisable
Presently price is about to hit the 45 mins resistance. I have 2 reasons why the GBP will fall.
1) With the upcoming Retail sales (9:30am GMT) and T. May potential resignation news, i expect GBP to fall.
The DXY and trade war doesnt do the USD any favours but considering the GBP current state, i believe the GBP will fall.
2) The traders sentiment is long as...
Price on major support level 0.70072.
I expect the price to bounce off this support to the nearest resistance level 0.70284.
A further increase might be seen tomorrow by 1:30 during the NFP news as i expect the dollars to fall.
Stop loss should be on the next support level 0.69886
DXY to fall more than 100 pips on Wednesday...so i expect
usdjpy to fall below 111.0,
eurusd to rise above 1.12,
gbpusd to rise to 1.296
Audusd to rise to 0.709
Federal Reserve System (Fed) Interest Rate Decision @ 1 May 2019 18:00 GMT.
- Technically, I have identified 3 major resistance that the price may test however the overall trend will be a sell.
The Gross Domestic Product (GDP) @ 26 Apr 2019 12:30 GMT may also push the dollar down.
I would suggest you use a stop loss which should be the next resistance level if the market doesn't go down.
- Fundamentally, there are 4 major news next...
Hello guys I'm new TDV and there goes my first analysis.
20 pips trading with a risk ratio of 2:1.
Wait for price to hit the resistance and enter a short position
Stop loss: Resistance + 10 pips
Take profit: Resistance - 20 pips