Starting with a daily chart of the dollar index
1. Lower supply area identified as 93.00-93.48
2. Upper demand area identified as 96.90-97.54
3. Price making higher lows and just broke through a resistance line. Bullish bias
4. Fib retracement between 93.00 and 97.54 ...
The FX:GBPUSD showed multiple bullish signals on the 30 min following the decision by the BoE to maintain interest rates along with asset purchases. A bullish pennant had formed, that included a bullish reversal candle pattern at a support line. There was also evidence of hidden bullish divergence, with the price ...
A bearish pennant can be seen on the hourly following the fallout of the Brexit vote. Additionally, hidden bullish divergence is evident as well, with lower highs in the price but high lows in the CCI oscillator.
Entered sell order at 1.0980 with a 600 pip SL and TP.
Downtrend and downward channel appears to have formed on the EURUSD. Price is now bouncing off the trend line instead of continuing upward to resistance of the channel.
RSI is below 50, and MACD is below signal line.
Sold at 1.099 with 30 pip s/l seeking 30 profit.
Britain voted to leave EU which resulted in fast losses on the value of the pound and by extension the EU, which is currently dealing with economic difficulties itself. The loss of the UK means the loss of significant income.
Currently players are taking profits which is pushing the price back up. However, a ...