Monthly – Triangle formation. Trend of lower highs at 0.9022
Daily - 261.8% and a DeMark 13
Intraday (four-hour) – Expanding Wedge has a bias to break lower
We look to sell EURGBP at 0.9000
Euro-zone retail sales declined 0.3% for May compared with consensus expectations...
AUDUSD - Stalls close to the previous high. Look for a correction.
Weekly – Completes a bearish 5-wave count (Elliott Wave). Expanding wedge offers a long to medium term bullish bias.
Intraday – The three-hour chart looks to have completed a 5-wave count to the upside. Bespoke resistance is seen at 0.6997. We...
Although USDCAD has posted two ‘Inside Days’ (which highlights indecision) there is no clear indication that the selloff is coming to an end.
Bearish expanding wedge on the weekly chart with a DeMark 13
Broken the wedge formation on the daily chart
Intraday chart is holding inside a corrective channel
Trade idea – GBPUSD – Close to resistance. Scope for a correction lower to buy into
Monthy – Bullish wedge formation
Weekly – Possible ‘Outside Week’
Daily – Bullish Morning Star
4H – Close to resistance and DeMark 13. Scope for a correction lower
We look to buy at 1.2580 target 1.2745 stop 1.2580
Caution - UK Figures...
Weekly – Bearish Outside Candle with bearish expanding wedge pattern
Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday
We look to sell at 1.3400 Stop 1.3440 Target 1.3115
Economic figures could adversely affect the short term technical picture.