To me this is still a great opportunity to go long. Daily RSI is still above 45 (so are all lower TF). It showed sign of recovery after the mighty drop on Thursday (and early session on Friday). However it may be so weak that the rise cannot even pass 1.689 so buyers be aware of the risk. TP: Final target is just below the high before the mighty drop last...
EURGBP got rejected just below the daily 50MA and fell slightly below 4H 100MA. consider previously failed breakout on 08 July, which it fell back within the downtrend channel, I expect EUR will go down and maybe reaching to the edge of the channel's lower end once again before another attempt. TP: I will start trailing from 0.85527, anything go lower than 0.853...
An aggressive rise may be seen on Monday or even during the Asia session. GBPNZD has been going dripping out all its gains having not been able to break 1.996. It's now been dragged down to near the lower end of previously formed uptrend channel Note: It did break the 100MA on daily, so I don't expect another attempt to 1.996 maybe not even half way...
Pound got some up beating moment today and then battered down by the US dollar. 1.38 has recently became a support line and provided multiple bounces when pound fell, so it may be a point of buying interests once again for many buyers. However things will turn ugly if big buyers are patiently waiting for the daily 200MA (Which I doubt!). Checking on DXY it may...
we don't know what will happen in the next few hours as US session approaches, however... EURUSD downtrend was firmly formed many days ago and has been forming seemly M pattern structure on weekly chart (and obviously daily) which is significant move. RSI has been below 50 since June and seem to be going lower on weekly, although slight recovery on lower TF, but...
AUDUSD broken the mini uptrend lower line yesterday and I expect it to go further down. 0.744 level has provided a little bit of resistance in the past few hours and was in a strong historical base - so is the 0.741. It may be all driven by today's US data, it can either break the 0.741 or going up above 0.744 to resume it's upside momentum within the major...
Gold recovered near 0.5 fib from June high, besides of daily chart, all lower charts RSI now are near oversold. I expect the price to start falling slightly for a simple correction before another rally. The SL is slightly above daily MA, and TP target at near 1805.
if you have missed this out you can wait to enter a few pips below each TP line . There's a risk here at 0.744 - 0.745 area which is a potential ascending triangle if recent rise is respected (2nd - 06 July). If mini uptrend is broken, we can see a further drop from 0.744 GL
I believe the newly formed downtrend should be respected once more unless DXY break it's newly formed ascending trend line hard. The SL is set above daily 20MA. TP can be as low as the other side of the downtrend channel. GL
Depends on this afternoon's US data, it may either break the trend or support it back up significantly It's near the edge of previously formed ascending triangle and close to a formation of W pattern on daily chart. If US data is not that bad, I expect the trend line not to be breached. Note: I do not trade DXY. GL.
GBP did not break 1.3900 in the past few hours and did not reach to the upper edge of the descending triangle formed since the big waterfall back in June. It's still hard to say whether it will definitely go down much but I do believe it should at least go back down half way 0.5 fib of today's gain. Gold drop accelerated as time of writing, my entry was just a...
There's still room for the pair to go down a bit further, however I expect it not to break long formed downtrend channel, and bounce back up from the edge of the lower channel line. It will require much selling power to get it further down, at the point of which I believe there'll be more buying interests than selling. The SL is at mid of historical support...
Dollar had a glory day, although encountered an immediate deep correction which wasn't expected, it stopped at 0.5 fib and bounced back up. I expect from now most US pairs should start retreating and respect the newly formed W pattern on DXY. GL
dollar recovery was accelerated by today's news but then got an immediate correction (or say side way play) The fact the move has formed an irreversible W formation, I expect the dollar to continue going stronger, the NZD recovered just about 0.5 - 0.638 fib and then started showing sign of retreat, which possibly means no more buyer interests or buyer TP. I've...
today's event was significant (and unexpected sideway play). If the W formation on 1H DXY and M formation on 1H GBPUSD both are respected, the market now should start pushing dollar back up and GBP going downward a bit deeper. Trailing. GL
USDCAD has reached to a strong base and bounced around 1.2444 several times, I expect this to be the main move as it has just bounced again a few hours ago in Asian session. It's also in descending triangle so trade with care.
I expect pound to rise a bit further up before a correction happens. Daily chart is going above 45 which is a good sign of buying strength, 4H 2H 1H has gone down a bit from overbought level that gives some room for price to go further up. NOTE: I do not see any confirmation for the direction yet so have only put a small lot size for this trade (which has been...
pound should going go a bit from here. GBP has been strong in survival in the past few days and maintained good line support around the 1.374-1.376 area, it has formed a mini falling triangle since the rise on 2nd, July. However if it does breakout up and rise, I expect it to be sharp as I expect there might be some significant buyers who's been waiting for...