OANDA:GBPJPY I stay like yesterday on a daily perspective to show the very strong selling wick we have had yesterday during the US session when the price action met the daily Fibonacci 0.618. I wasn't expecting the quotation to reach the daily Fibonacci but I kept in mind the daily structure without changing my view because of a short term correction. My second...
Last week was an important milestone to reach the door of a fib retracement level. Everyone can be interested to catch the uptrend move but it’s important as well to step back on a daily time frame and to consider where we are. On one hand, we are bouncing from the low in the 50 handle which is a significant price increase. On the other hand, we are still in the...
OANDA:GBPJPY After a strong bullish retracement, the pair succeeded to cross the 0.618 fib level on the daily. However, just after that, we can notice a strong pullback, a sign of exhaustion that pushed GBP JPY down to the 0.5% fib level. Historically we also can notice a bearish zone just above the current higher high. We have had a selling wick just after the...