As long as price has not reached the resistance 142.700, (It may even go a bit higher now and just touch the line 142.700 but not pass it.) I predict a downward move for GBPJPY afterwards.
So if a downtrend starts, then we can set two targets:
Share your thoughts please. I'd love to read your comments.
Happy New Year everyone
Price in FX:GBPUSD will possibly go up down to 1035150 before falling down to at least 1.26950
I anticipate a continuation of downtrend afterwards. Maybe to 1.20750 or even further down.
What is your thought on GBPUSD?
The price in British Pound / US Dollar is in range bound now.
I expect it to drop. If it passes 1.2695 then maybe we can open sell trades. :)
I'm still learning, so I am open for your constructive comments.
Please leave a feedback and let me know what you think.
After breaking the long term downtrend in EURCHF, the price is getting ready to go up again.
If the current resistance and downtrend line break, there will be no other important obstacle to prevent bullish until the price reaches 1.103.
Two scenarios can be imagined for the flag formed in CADCHF.
1. It either breaks in the current bullish move 2. or after a temporary fall, it will break in the next bullish move.
Two resistance lines can be considered as targets
USDJPY currency pair is in a range-bound.
It seems that the triangular pattern is formed in the way of this pair.
The rise or drop of this pair is not clear yet, and we have to wait for the break of this triangle.
The break position determines the direction of price movement to the exit of this range-bound.
The price has been in the range for several days.
in my opinion, if this support line breaks by the seller's pressure, the price could fall to the support line .
Of course if there was strong signal, the price can break the up trend line.
But the current bearish wave changes its direction, the price will rise to the resistance .