USDCAD is approaching our first support 1.3198 (Horizontal swing low support, 100% fiboancci extension, 50% Fibonacci retracement ) and a strong bounce might occur pushing price up to our major resistance at 1.3269 (Horizontal overlap resistance, 50% fibonacci retracement ).
Stochastic (34, 5, 3) is also approaching support and we might see a corresponding rise...
By the grace of Allah the most high in my previous ideas the TNTBTC gave 92 percent and 28 percent respectively.
This time it has completed the gartley pattern and the price action is in PRZ insha Allah.
I have defined the targets accordingly plz find on chart.
Previous day candle shows at bearish Doji candle, rejection from the resistance area . Oh the 4-hour chart, it shows three black crows pattern which is used to predict the reversal of a current uptrend. A risk to reward of 1.66.
All investment comes with risk. Trade at your own risk. Open to ideas and sharing from all passionate traders, please comment and share...
GBP/USD testing support
U.S. Retail Sales m/m
Price Movement
Since yesterday, GBP/USD moved up by around 40pips before coming back down for around 90pips.
Trend
GBP/USD is trending downwards.
The U.S. Retail Sales data measures the change in the total value of sales at the retail level.
It is scheduled to be released tonight at 2130 (SGT).
It is...
From my point of view, GBPAUD may be at the end of a distribution phase, having completed a H&S pattern. I see the beginning of the markdown phase just around the corner. The best scenario would be for it to make another lower low, breaking the support, retesting it, and then dumping the price.
