GBP
FUNDAMENTAL OUTLOOK: WEAK BEARISH
BASELINE
The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. With rising price pressures and falling demand, the risks of stagflation has risen substantially, so much so that the BoE have forecasted a possible...
On the Daily price has made an impulsive move to the upside and then consolidated in a falling wedge pattern after testing and faking out of the psychological level/support of 1.5200.
On the 4 Hour we can see price has stalled and started to retrace towards the fib levels, 50 EMA and Market Structure so upon interaction and price action confirmation we can look...
Priceline of US Dollar / Canadian Dollar forex pair is moving within an up channel and now hitting the channel's support.
Volume profile of complete channel is showing less interest of traders at channel's support
But MACD is strong bearish and Stochastic is strong bearish so i would suggest if the MACD turns weak bearish or Stochastic gives bull cross then buy...
Good evening everyone,
Gbpcad has been trading on the bottom half of the big weekly channel for a while now and did a beautiful rejection of the monthly R1 + 200SMA weekly resistance level.
Now the price is overextended on fastertimeframes and therefore i'll wait for a pullback and rejection before going short.
Potencial targets is 1.73 level (monthly...
Good night everyone,
Quick check at CANADIAN DOLAR FUTURES on right bottom of the chart
H&S bearish formation, about to break. I dont like 100% this formation, why? Because overall canadian dolar was already in a downtrend and this recent upmove was a correction, and a H&S is a reversion only pattern, so this one cant be fully trusted, anyway its there and...
