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Cable weakness at resistance for a short, we still have downside targets not met and are still likely to be met.
EUR/USD looking to retest the 50MA, MACD crossing over towards a buying signal and 50MA is also placed perfectly aligned with the 1.1538 resistance.
A bearish Gartley Pattern I will be monitoring into Monday morning.
We have some fib confluence with the 61.8% retracement from the most recent move down.
As this is with trend I will be looking for a 1:1 R/R which for the first half position off, which is just past the traditional targets of the 38.2%
CADJPY looking very bullish, looking to breaking yellow box and continue to the resistance area marked in red.
EURUSD Short setup, price bounced off resistance.
USDCAD can see a bounce off previous support.
In the exchange rate we expect a local double peak within a day. We are trading the resulting BC wave structure. The BC wave structure target price is 1.1551
1, EURUSD recently broke it's channel that it was respecting since August. Since it has broke the channel it has retested the channel.
2, H&S pattern waiting for price to broke neck line.
Short signal signal strong since 14-Nov-2017
Rally's up to 17-Apr this year, then declining in price.
CORRELATION with Gold!
Could see buyers entering from the new support, wait for a reversal candle to confirm entry.
The EURUSD exchange rate is based on an ABC correction. If it succeeds, further downward movement would be expected from this correction. By way of example, the structure of the first wave of the correction and the first major wave structure of the decreasing motion may be the same. The decreasing three-wave structure targets a price of 1,1200 levels.
This is the influence of bad economic result from this week. I also see the right shoulder lower than the left shoulder and clearly negative trend for this currency pair so far. The price will drop to neck line. Maybe this price fall slow dawn positive result from JOLTS Job Openings (in monday) but it can not stop it. When the price touch neck line we must wait. ...
A bounce to 1.1675, the last 4hr broken support would be a chance to jump on daily bearish trend at a better R:R to target range lows
Trade with >70%: SHORT @ 1,1744 stop-loss 1,1792
Our first downward target for Wednesday was met. But that spike lower did not translate into a retest of this week's low and price action in EURUSD was muted. In fact all trading was confined within the previous day’s range – reflecting investor uncertainty. So although the market remains below the 13 day line and last Thursday’s Marabuzo line, immediate studies ...
The backdrop to EURUSD remains dominated by Thursday’s aggressive decline. Price action yesterday was muted with limited movement in range and net direction. This kept EURUSD under Thursday’s Marabuzo line and the 13 day mvg avg without attracting significant fresh selling interest. This means that today’s signals are weak but given the underlying bearish bias, we ...
USD strengthening as well as the political uncertainty in Italy has been detrimental to the EURUSD pair. I expect the downtrend to continue but the RSI has been oversold for quite some time now, therefore I would expect a slight pullback to the first resistance before it continuing to the next level of support. The risk to reward ratio is much more favourable this ...
Trade with >70% probability: SELL SH @ 1,23650, stop-loss 1,2391