Potential for a long position on EURGBP over the next coming days
Schiff fork touches the edge of the channel, which is the same area where we have had prior bullish signals this year (see candles highlighted) thereby making this a likely area of reversal from the current downtrend that began around this time last month
If the price holds in this outlined area...
Despite the GBP's surge on Friday following the reached agreement on migration between the EU and U.K the Pound still looks like it can print a new downside leg.
The Monthly candlestick closed below the key support region of 1.3250 and formed a hanging man candlestick which was mirrored on the Weekly timeframe also.
Here on the Daily timeframe, we can clearly...
Remember guys, keep it simple!
As you can see from the AUDUSD chart it is hugging the daily trendline tight. If it breaks and it is not a fakeout, buy that Aussie to the top! If it respects the trendline, wait, be patient and when the time comes it's time to short.
This doesn't work every time, but it can be a clear signal that the direction of any pair may be...
1.Support broken resistance validated
2.Trendline broken on daily timeframe
3.Opposing level breached by short sellers (109.000-broken)
4.Profit margin 1:7
5.Strong rally up to sell zone
today that markets are closed i thought i could share my outlook on USDJPY for the upcoming week: as you can see on the chart price has recently broke to the downside the previous support level, this means price is telling us it wants to go lower. Of course we shouldn't chase price, instead we should wait for it to come in our comfortable zones, like...
i want to explain to you why i'm going to short this pair if price pulls back a little bit more. As you may know audnzd -0.12% has been moving upward without interruption: both in the daily and 4hr chart Rsi is in overbought condition, and this tells us that market is overextended and there's maybe some room to retrace and let the trend breath....