As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=128.9.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=128.65.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we can see on the 4H time frame we have had previous Higher highs and Higher lows.
We are now waiting for a break above our Daily Resistance level at 106.800 and also a strong previous Supply zone at 106.650.
We will be aware that price could in fact reject the Supply zone and break below trend towards 107.350 which we would look to enter upon a break of...
Looking at a basket of Sterling pairs on a variety of time-frames.
(You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
There appears to be some evidence of a bottom shaping on the 4-hour chart.
Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...
USDCHF - Intraday - We look to Sell at 0.9865 (stop at 0.9895)
Trades at the highest level in 12 days. There is no clear indication that the upward move is coming to an end. Intraday, and we are between bespoke support and resistance 0.9795-0.9865. The move higher is mixed and volatile, common in corrective sequences. The medium term bias remains bearish....
. There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPUSD is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Approaching a third touch confirmation on the larger bearish flag pattern on the weekly chart, but zooming in on the 4hr and 1hr we see consolidation on the top of the channel in the form of a bullish flag pattern giving confirmation of at least a double confirmation on the third touch before a short signalling a buy opportunity.
On the 1hr chart we can identify...
EURGBP - Intraday - We look to Sell at 0.9200 (stop at 0.9230)
Posted Mixed Daily results for the last 3 days. Inside Soldiers have been posted on the daily chart. A bearish Head and Shoulders is forming. Trend line resistance is located at 0.9193. Bespoke resistance is located at 0.9200.
Our profit targets will be 0.9090 and 0.9020
Resistance: 0.9193 / 0.9200...
As we can see on the 4H time frame we are currently consolidating between 1.11075 and 1.10650 so I will be waiting for a clean break and retest of one of these prices for a precision perfect entry.
Above 1.11075 we will look for TP levels at 1.11450 (38 pips) with a possibility of breaking our supply zone to 1.11650 (58 pips).
Below 1.10650 we will look for TP...