I can see CHF taking the lead shortly with this one, although it has broken the downtrend resistance, I feel it's still being quite sluggish moving upwards. I would wait until the next drop to see how strong it is before shorting it. The possible reason for CHF weakening could be due to ongoing BREXIT talks. I would monitor this one very carefully ...
Using ICT Concpets, it’s led me to believe EU has a potential rally down, it took out a double top, an area of Liquidity where Smart Money can sell, its retested a breaker used to mitigate orders, so now overall bias is to short EU to the double bottom, another HTF level of Liquidity, maybe EU will reach for the range Low
JMAT is currently in a tight consolidation ranging from 2894 - 2983, I am expecting this to continue for a few days and then for the price to break resistance @2983.
My game plan would be the following:
Looks to me like a big triangle, I think I've mentioned before. I'm leaning bullish, looks like a small descending wedge which could kick start us on the way to test the top. Once there would need to reassess to see if there's a chance it being broken for a nice bullish move which might bring back some volume to the market.
If it breaks down I'd expect us to test ...
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.6430 would begin in Midterm.
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.6580 on 01/03/2019, so more gains to resistance(s) 0.6860, 0.6970, 0.7025 ...
Looking to Buy GBPUSD from the Buy range (1.28000-1.28150) , Target is near the 1.29000 level (+-100pips).
Only enter this trade if you see a reversal pattern or bullish price action on the 1H chart.
We can see indecision candles forming on the daily , this can result in price consolidating between these two levels.
Possible short from current area to support levels and if its broken could also give a shorting opportunity back all the way down to end of structure which will follow the prediction I gave earlier this week and also on thursday.
The exchange rate is up 21%. The rise can be built in a double wave structure. We are currently in a flatter stage. Retreating this uplifting stage can cause steeply rising waves. Target price for rising double wave structure is 6.3838 usd level.