Price action been falling steadily but it's about to meet a rising trendline on the daily so could see a bounce here. Nice easy trade in terms of stops and targets. Stops below the round 1.8 number as that could attract PA like a magnet
The Pound has been supported, while tracing a triangle, which is characterized by the lack of a clear trend direction.
Rgmov has been in a downtrend, suggesting that every overbought rally was a short, which has been the case.
Currently, price is breaking below the weekly mode, which is 11 weeks long, and soon to be 12 after this week's close (unless we expand the...
Set up for a H&S pattern for the GBPUSD. Generally H&S skewer of in one direction before going in trend direction. with brexit playing heavy on investors, it is probably this will break the 30 year resistance zone.
Good morning GBP/NZD, time to rise and shine :)
My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both...
Primarily a technical play but with the recent ECB action, the CHF may appreciate versus other pairs as the EUR catches a bid.
Brexit fears, as much as they seem forgotten may take centre stage once more as the first quarterly round of Central Bank activity ends next week.
This contrast makes FX:GBPCHF a favourable play.
With the break of the ascending...
You would think the bombings in Brussels would send the euro plummeting. You would think the ECB reducing rates and more QE would send the euro plummeting. You would think the very idea of a brexit that threatens the EU concept would bring down the euro. You would think that political uncertainty in Germany and poor data would bring down the euro. This is my...
Looking at some support/resistance levels, waiting for the continuation of the downtrend amid all the Brexit controversy. Split my position into two, one closes at 1.4085 and the other one I will wait to go to 1.385. Eventually looking go down to the 1.385 levels, even as some predict to 1.36. Simple trade, newbie here.
Overall with the Brexit situation going on and technicals showing on the charts, we are bearish on pound pairs. Simple trade on this. Previous Support turned to resistance as a barrier. Break of the trend line should lead us to the previous Lower low made which is about the ~157 level. I am shorting as posted and adding on to my position when price breaks...
Now that the GBP/USD has set fresh new lows we had to look at the bigger picture for a hint of the direction. We can see that the price has bounced off a key support zone, therefore, we are going long with the scope of it hitting our resistance. See www.plusfxtrading.com for in depth analysis.
Today's Chart - EUR/CAD
SUMMARY:
The primary trend of EUR/CAD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.5325 and support at the level of...
Well, with everyone stressing about a Brexit, we'll proceed to trade on harmonics without GBP pairs. Like the idea? Give a like and comment!
Best of trading!
