Hey Traders, I'd really like to know what any Faders think about about this chart.
July 2016: Lowest Low Recorded Ever.
What do you think is next based on your experience and expertise. All opinions are welcome!
Pivot: 1.3235
Most Likely Scenario: short positions below 1.3235 with targets @ 1.3100 & 1.3045 in extension.
Alternative scenario: above 1.3235 look for further upside with 1.3330 & 1.3425 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3235.
Overview:
The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It...
Pivot: 1.4430
Most Likely Scenario: long positions above 1.4430 with targets @ 1.4650 & 1.4700 in extension.
Alternative scenario: below 1.4430 look for further downside with 1.4350 & 1.4300 as targets.
Comment: the RSI shows upside momentum.
Pivot: 1.4190
Most Likely Scenario: long positions above 1.4190 with targets @ 1.4295 & 1.4325 in extension.
Alternative scenario: below 1.4190 look for further downside with 1.4140 & 1.4090 as targets.
Comment: the RSI shows upside momentum.
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an...
PLAN Next week
Watch out this price if it can break TL and go down
It will end the impulse uptrend and going to downtrend.
I will wait for break TL (Buy1) and, maybe, it will TB to meet TL again (Buy2).
I think the downtrend is finally over by breaking my trend line after 8 months of build up. The retracement is already done, this pair is ready to be bought.
Great ratio regardless of which TP your aiming for.
Guys......
Seems very timely a month from June 23rd, please see attached charts for previous success with this pair in particular.
Everything is on the chart for this one, we will be following and updating this closely over the coming weeks/months.
Like and comment your thoughts below,
TheBanker.
www.tradingsignalreviews.com
Rarely wrong on cable, as I mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level.
GBP/USD
Overview:
Market still has room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this...
GBP/USD Hourly
1.4076
Overview :
Market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before on Tuesday.
Britain published construction sector PMI: 54,2 that is lower then the forecasted 55,5. The pound did not receive support from the black gold market...
SUMMARY:
The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks...
