". There is still a possibility of temporary retracement to suggested resistance line (151.07).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
At the first, I suggest that you consider the areas I have identified! There is a possibility of a powerful retracement. that two bearish trends are so strong and I will show you in zoom out in the comment below why I said those are so powerful!
If so, traders can set short orders based on Price Action and expect to reach short-term targets.
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
GBPUSD is in downtrend now. And I guess it will continue this way.
If the support line 1.31519 breaks, the we may see more drop to the price.
I assume it will reach 1.26790.
What's your thought on this pair?
GBPAUD was bullish last week. I assume it will be bullish during the next week too.
The uptrend perhaps continues to the resistance 1.84500 (first target)
and if it can pass it, it may reach the line 1.92750 (second target)
Merry Christmas everyone.
Great British Pounds Ended last week as the strongest among the major currencies and the uptrend is likely to continue this trading week as the currency pair is set to target 1.3333 mark. A break above 1.35153 will expose GBP to retest its bearish order candle at 1.38000 for a long term move.
In the meantime, we might likely witness a slight pullback to at least...
Hi, Traders ! Monfex is on the air !
With Brexit in suspension and PM Johnson waiting for the respective EU decision, GBP/USD is also flat.
* UK will need the new elections in case the EU provides a three-month extension, as requested.
* It is hard to project the outcome of the election calling, but we suppose that the turbulence would increase on the market...
Hi, Traders ! Monfex is on the air !
GBP/USD can reach 1.30 already this week on a positive wave of a Brexit deal.
* During the past days, GBP has increased in value significantly ag USD against the background of improved outlook of a Brexit deal.
* There is the possibility that the UK government could start legal procedures to avoid asking for an extension...
We have already noted that this week promises to be calm but The Jackson Hole Economic Symposium is an annual symposium, traditionally gathering representatives of all the leading Central banks in the world, might give enough reasons for bursts of volatility.
The most vulnerable are the euro and the dollar. Weak inflation in the Eurozone (yesterday's report...
FEEL FREE TO COMMENT IF ANY QUERY OR SUGGESTION.
In the chart, plotted value is for GBP/JPY which has stronger CONTROL PRICE, value HIGH and value Low . The " Control Price " has complete control 1 to 7 as seen in the chart.
1) The 3 excesses detected at Value High and after the (h) excess with price rotation sellers have complete control over the...
During Friday’s trading session, the British Pound appreciated against the US Dollar by 196 base points or 1.51%, breaking most of the technical indicators. On Monday morning, the rate was located between the 200-hour and the 100-hour simple moving averages at the 1.3197 mark.
In regards to the near-term future, most likely, the resistance level of the 200-hour...
The level to focus on is 1.3526-1.3549, as this area includes two separate ABC targets from January and February.
A break above that resistance range is needed to assume that a more meaningful rally is perhaps developing.
n the downside if this pair breaks below 1.3170 then it will open door for 1.3000 area. if it breaks below 1.3150 then i will look for my entry...
Interesting to see how this one plays out over the coming couple of weeks. If Britain leave the EU with a Deal, this may give GBP strength against the non EU member Switzerland, however a No-Deal may weaken the GBP (This may only be for the short term until trade deals with other countries can be signed) we believe price is going to be bouncing between the...
Talk about taking it to the wire; we've heard a lot in the press over the past many months about the prospect of a No-Deal between the UK and EU for Britain leaving the European Union. This could go either way, if Britain leaves with a deal this may mean strength in both the Euro and GBP, however a No-Deal may in the short term weaken the Pound, taking price to...