Look for this order block to be respected. If that doesn't work, watch for longs at the major trendline.
There are only two points of interest for me on GBPUSD this week. Here they are. Buy on dips.
Look for retests of that order block/trendline break this week. This is likely the last opportunity for bulls before this heads up towards 1.15000 and then 1.16000.
NZDUSD seems to be forming a very ideal Wyckoff distribution sell-structure here. It bounced off of the daily trend line at the top, and so far is respecting the more minor 4hr trendline here. Very promising risk/reward trade.
TESLA has just formed a clear Wyckoff structure on the 100day SMA and the 38.2 Fibonacci retracement. It looks like a very promising buy here. If it breaks this point, it's likely to continue into the $280s, but if this holds, it will likely make a new high before coming down any further, especially with the promise of the widely promoted Model 3. If this does see...
Overall I hold bullish bias for this pair at the moment. However, I wouldn't be surprised to see some fairly strong bearish pushes along the way. Watch the key trendlines and support/resistance points.
Like EURUSD, a buy on dips situation. May see significant resistance just after making a clean high when it hits that trendline. Watch the listed resistance/support points to help form your buying plans.
Certainly a buy on dips situation. Watch the marked support points for potential buy opportunities.
I expect the RBA to be neutral/slightly dovish in their rate statement this week. With AUDUSD at the trendline it's now held for over one year, I expect another push down from here. If this breaks, who knows where this pair will end up.
This is a perfect buying opportunity on beautiful Wyckoff structure for GBPAUD. If this trendline breaks, another potential buy point is about 100 pips lower. This looks extremely bullish long term though.
Use investor skittishness about British politics this week (maaaybe into next week) to get into some great potential GBPUSD buys.
Expecting a bullish push with Fed speak in the early portion of the week, but if/when data disappoints, this thing should take a hard hit and head towards new lows.
I hope you took partial profit as recommended. Pairs seem to always come back when we least expect it. GBPAUD has been kind enough to give us a potential double bottom. I recommend buying on the break to the upside of this wedge we see it currently forming.
GBPAUD rose over 150 pips from our buy entry last night. I took partial profit and now will reenter when/if one of these potential scenarios plays out.
Here are your support/resistance levels and major trendlines to watch as the US rate hike decision approaches.
GBPUSD is likely to be a swing buy, either here or slightly lower in the low 1.25000s. It's currently retesting the breakout from the accumulation range. If news comes in strong for the GBP this week, the reversal is definite.
If/when we see some USD strength this week, it should present an ideal EURUSD buying opportunity. These are our areas of interest for swing buys, targeting new highs.
The GBP bear run caused by the elections has presented a very promising potential buy here. We have both an inverse head and shoulders on the daily and the 78.6 Fibonacci level. I suggest using a rather generous stop loss and a low lot size, as the potential for variance on the entry is high, but the potential amount of pips made in profit is quite large....