Expect more ranging and even attempt bullish however overall bias is down and will wait to see how market reacts when high timeframe key levels are met, then look to make an entry.
Looking at the ranging areas, awaiting too see how market reacts upon reaching key levels, personal bias is down to create lower lows, however awaiting confirmation
Depending on news and overall conformation, a sell to 1.04 and even lower is on a potential, however I expect some consolidation and pullbacks until NY opens only if good news for the Dollar.
Still awaiting after a very rangy weeks, the break of 1.29 could be on the cards this week, as I await for conformation, up and down is expected until NY opens.
Expecting to be a ranging area between the highlighted zones, however with overall downtrend I expect to break the support around 1.0520 and go into even further lows, still waiting for conformation though.
I expect some ranging consolidation to continue to NY opens, Still in an overall downtrend GU awaiting conformation after potentially passing an important support around 1.2525 to then further into the 1.24s.
With dollar strength and a weak Canadian dollar its looking very likely were going to say and upward direction to 1.29 and potentially beyond. With the technicals to back it up overall an uptrend passing key resistance zones with full force, I expect some consolidation in the highlighted area. And then we have to assess if we have the confirmation of a further...
Just like GU, the fundamentals are overall bearish along with the technicals, I would say potentially even 1.05 range in the near future, however first stop would be the lows of 1.06 after some little consolidation in the highlighted area. we still need confirmation of the continuing downtrend in the morning which is likely, before we place a short.
As we all know the overall trend on GU is down, Monthly & Weekly. As well the fundamentals to back it up, GU's downtrend is most likely going to continue, I predict some slight consolidation in the highlighted area, once we get confirmation, down to 1.25 and potentially lower will have to see how the markets respond when London opens.
