EUR/USD - Neutral Descending Trend line Double top in contention for a Triple top (Strong Resistance). RSI pointing towards the downside but irrelevant at this moment in time with all the noise from the FED Interest rate decision and future economic outlook (Fear in the market) will wait to see how the market reacts to this potential trend line if proves a strong...
USD/JPY - Short FED Interest Rate decision moved this pair Wednesday 21st ofJune (Bear Market) leaving the interest rate unchanged. The outlook for next months decision is now the topic of discussion after no change this month i.e. Increasingly likely for FED Interest rate cut. The Equity markets showing strength I think to end the week we will see a strong...
Waiting on Japanese session reaction to GBP pullback. (PatiencePays) If there is a breakout off the downward wedge (Long position) Take profit 1: 140.000 (Resistance & just below 50% Fibonacci Retracement) Take Profit 2: 142.650 (fibonacci Retracement 61%) Fundamentals affecting decision: Long Position positive news on trade war negotiations and continuation in...
GBP/USD break of downward wedge on the 4hr chart (Scalping will be ideal at periods of Volatility over next couple of days i.e. news). Take Profit 1: 1.2870 (Fibonacci Retracement 50% & Resistance Level) Take profit 2: 1.3180 (Fibonacci Retracement 100% & Resistance Level) (Top of wedge could be Ideal Support for Stop loss) (MACD beginning to cross for potential...