mleader1

mleader1

GBP is in a very dangerous move at the moment having not being able to break through 1.399 (and even 1.396 on Friday) With the rising negative COVID news and possible rising DXY, I would consider to short GBP for now but keep eye open for this week's US data (many!) Pound should rise a bit to correct last Friday's waterfall. Although I don't think that was a...

mleader1

DXY had a weak week last week till the last day which saved it from sinking further. The RSI on weekly is still intact above 50 (51.3+), daily is on the way back to 49 so there' might be some good long momentum to be expected in the next day or few more. The immediate resistance is very strong, at 92.530, which is not only multiple weeks lows and highs (hence...

mleader1

Euro got a boost by very positive economy data this morning, which supported a continuous rise this week. similar to GBP against USD, because of the weak US dollar, we didn't see much decent correction on the pairs, so if there's any mini waterfall, it really should be now. (DXY is also now at a bottom forming a base, if it succeeds, it will bounce back up a bit...

mleader1

GBPJPY's rise in the past few days created a rising wedge which got broken out just a short moment ago, I expect the price now should drop a bit further to form a proper correction. SL: previous supply zone on weekly. which is also 20MA on 1H. TP: Fib based GL.

mleader1

Given enough boost, pound should be able to touch somewhere close to 1.4, it has not had much comfortable correction at all since the past 4 jumps, really like pound's doing... If it ever hits, I believe 1.4 is another level that's not only just a historical psychological ceiling point, but also proven level of resistance, let's see whether it stands this...

mleader1

AUDJPY is rising to the upper edge of the downtrend channel (daily chart), it has moves that indicates of a breakout since 21st, but only managed to create a falling wedge from my opinion. I'll be selling when it reaches above 81.15. SL can be as low as 81.231 or higher above 81.36. TP: expecting to breakout downward so TP slightly above historical support

mleader1

I am having nasty red figures across my accounts this week, - having dropped my last week's analysis and been wrong on DXY directions since the beginning.... And it got worsened by the negative US economy data day by day This is a simple analysis based on Fibs and historical support/demand zones. If us dollar still can't find buyer at this level (91.83) it will...

mleader1

a correction will be needed soon in the newly formed rising wedge, I expect some cool down period happening today - providing a safe journey from today's US economy data. Be noted that IG sentiments shows over 52% sells today (55% in past hour) and myfxbooks shows 82% sells, so it might a a dangerous pair to trade with even though technicals suggests a correction...

mleader1

Got stopped out yesterday after the mighty green shoot, I hope today it won't be the same scenario. Pound has stabilized and in consolidation since yesterday's boost, which I believe it gives enough opportunity for GBPAUD - consolidate a bit, and then going down a bit to at least TP2. trailing stop. Like stated - going down just "a bit" :) If it falls, it...

mleader1

I expected DXY to go up yesterday impatiently having discovered that it had not breached the daily 20MA in the past week, only a few hours before it got breached ruthlessly. :D But not yet convincingly broken. Today I'm watching closely on DXY again as there'll be many dances throughout the day. My personal opinion on this one is to stick with what I spot...

mleader1 Updated 

Nearly all GBP pairs went downhill this morning highly possibly because of DXY which jumped from bottom up. Hope you caught this as GBPAUD is on the other side similar to DXY, but reaching to the upper edge of the rising channel on daily, so if no surprises I expect it to go down by a few inches. If you missed out, you can try enter a few pips down below the TP...

mleader1

seems there's no more down beating drum for DXY (as far as I believe). it stayed above 20MA on daily in the past whole week whenever it got the chances but simply didn't break through. On 4H it also showed similar act against 100MA. it has now reached to the very edge of the lower end of newly formed rising channel so I expect it to rise if no major news event...

mleader1

After many days of descending since the big drop in June (three black crows), the black birds simply kept coming wave after wave, forming an unforgiven falling wedge, of which I believe is close for a reversal. The yearly low is at 1.70 so we are not that far away, finger cross it will not fall that far but hopefully just a few more pips down so my trades can be...

mleader1

Nicely overbought RSI in short period on all lower time frames, ok formed inverted cup on daily chart and near 0.5 fib retracement for a handle formation. The jump was also supported by a double bottom formation. Note: It was a confirmed downtrend, but with the CAD coming back strong a reversal may happen. For now, it will need almost immediate correction to...

mleader1

I'm making a super red week since yesterday, so if you are not confident please do not follow on this one. GBP is touching it's 50M on weekly, which I believe big buyers will kick in (I was expecting it happen on 200MA daily, but unfortunately no buyers showed up). Please be aware although lower TF RSI are all oversold, pound is pretty weak at the moment, so I'm...

mleader1

There's a very much needed correction before US dollar moving higher. A deep one :D DXY is still in decline from monthly chart, and have just met up with its monthly 100MA, from which it struggled a bit (and then surpassed it). Weekly it has a nicely forming W pattern, from which it can move up quite a bit further up, but I feel it's no higher than 94. Daily...

mleader1

Pound had gone through hell today and now on the way back for a revisit before heading back, DXY has started its correction giving way for its counter pairs a breath (hopefully). The D chart RSI is near the edge of oversold, lower TF are all oversold, so there's a high chance that it has bottomed for now at 1.25334. TP: Fib based, not to be greedy as Pound...

mleader1

Pound is coming close for a retracement. It needs a correction before a continued downtrend - although I do prefer a reversal to reach the dreamland above 1.40, I feel we do need some fundamental support from UK economy to stimulate the journey - and if not, the firm downtrend is undoubtedly the current trend. I expect pound to retrace anytime soon from now,...