In this multi-time frame analysis, I go over the bullish outlook and forecast on GBPCAD.
I outlined the 2 possible scenarios of the price to wait for in order to confirm the next bullish up move.
Remember to clearly understand what forecasting is for to give you a better entry rather than blindly enter without any price action confirmations.
Higher time frame:
COMEX:SI1!
Deficit in Supply
Inflation Hedge
Weaker Dollar is plus
Huge performance divergence to Gold. Possible catch up ?
Silver demand is forecasted to double
Historically cheap
Industrial use increases
Long term buying opportunity with a first price target of ~30 $
EUR/USD seems to be stabilising the newly formed base at 1.1300. A recent weekly candle from 2 weeks ago, formed extremely bullish in alingment with the recent fundamentals suggesting that there will be a medium term upswing in movement.
Generally speaking a closure above the 1.1400 handle should signify a comfortable 100 pips into the 1.1500 region and beyond,...
looking for AUDJPY to pull back to 80.00 - 80.50 these are the areas where we should see the bulls come back in !
TP1 based off my weekly chart at 90.300 was where price got rejected, we have seen price fall for the pas few weeks after hitting tp 1, TL and triple topped that was formed.
will not enter trade until all other indicators lign up
EURUSD - Bullish
1W Timeframe
Week Trade #3
Tentative:
BUY Entry Market Order @ 1.1928
T/P @ 1.2038
Total pips targeted for week = 110
Ref. 1 : A clear break & hold above 1.2080 will signal that Bullish Trend can continue up to 1.2330 in longer term.
Ref. 2 : A clear break & hold below 1.1730 will signal that Bearish Trend has resumed.
R3 1.2154 R2 1.2049 ...
In H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair....
