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EURGBP H4 Off the back of the resumed GBP strength, I feel we could see a break and close below our current support zone of 0.88300. Waiting for this closure is important, a clear break and close below followed by a subsequent retest and resisted price at 0.88400 could set us up for potential shorts.
USDCHF H4 - A snapshot example of the election impact on USD and risk pairs, technical structure holding, but that's nothing to base a trade off during these times. Much of TA on other pairs aren't infact holding. Wicks upside, wicks downside with no clear direction, and we are yet to decipher market direction until more clarity comes to the surface. I'll provide...
Hi Guys - Don't use this as trading advice. This is only my opinion
Hi Guys - Do not take this as trading advice, Its only my thoughts on the market and what I see pre-results for the elections. Remember to follow me if you like the content Cheers
AUDUSD is brokeout above the double bottom neckline resistance as expected from my previous analysis. The market is testing the descending triangle trendline resistance. Breakdown below the internal uptrend support could be a bearish signal ⬇️.
AUDUSD is testing the descending triangle support. The market is printing a double bottom reversal pattern. RSI is printing a bullish divergence signal. Breakout above the double bottom neckline resistance could be a bullish signal ⬆️.
EURUSD is brokeout above the current downtrend resistance. The market is printing the double bottom reversal pattern. RSI is printing a bullish divergence signal. Breakout above the double bottom neckline resistance could be a bullish signal ⬆️.
XAUUSD is testing the downtrend resistance + 0.618 fibonacci retracement level. Breakdown below pullback channel support could be a bearish signal ⬇️.
EURUSD rejected the 0.618 fibonacci retracement level + descending channel resistance. The market broke down below the pullback support. Potential retest of flip trendline resistance + fibonacci retracement levels. Sell re-entry at confirmed bounce off the retest ⬇️.
GBPCHF H4 - Same reasoning for EG shorts, fundamentals spiking GBP and market volume comes into play and EUR/LON markets react to weekend headlines. Still best practice to let the dust settle after such an opening. Personally like to let London morning do it's thing before looking to scout any trades out around NA/LON overlap time.
The US elections next week bring the market to a point where all we have to do is wait and of course, prepare our trading account for the crucial hours when it will be revealed who will lead the country in the next 4 years which are expected to be very difficult and challenging especially in the economic and social aspects. Technical analysis aspect We can...
Following my previous gold chart I would hope for a retest of $1950 before a dump until after the election, after a propped up economy ($) helps re-elect DJT. We have a nice Elliot wave in play with a break of support now turned resistance and with a fib retracement from the...
As expected, the Dow, when compared with the SPX and the NASDAQ to name two, presents the most bullish of the bunch. The recent drop was severe, but no long-term damage has been done. And while the SP500 and NASDAQ closed red last week, the DJIA closed green. This is telling us that though profit-taking has set in, bullish fundamentals underpin this...
Last week, prices were well sold at the 21 EMA. This indicates that the bears still have control. An interesting possibility is that prices could hit a Cradle point formed by a confluence of the Triangle boundaries. This point is also reinforced as the lower boundary of a possible larger channel. This mythical point in space and time could present as very...
The week before last gave us a shooting star/doji. The following week resulted in a pull-back that has everyone scared. For now, we held lower parallel support. However, I'm leaning on the prospect of more downside for now. The markets are telling us something: there is clear concern over the mid-term elections. If Democrats win, I'm sure that would pour water...
GBP has been recovering from short-term drop due to election loom, given the fact that it didnt break the support trend line clearly. *1.29285* would be a good long entry and TP at 1.304. Trade Safe
See chart for fundamental and technical analysis. I have given a timeline of Brexit events and the reasoning for its effects on the Pound Sterling. The combination of technical analysis and a strong likelihood of a Conservative landslide (Soft Brexit) should see the GBP surge, and hopefully see GBP recover to its pre-Brexit highs.