On Friday, Forex traders will be focused on the new dataset covering the US economy for Q1/2019. In Q4 of last year, the US economy advanced at an annualized 2.2% on quarter, well below a 2.6% growth in the second estimate and compared to 3.4% in Q3/2018. So, the question will be whether this trend of pessimistic readings continues, and how the USD will react....
Same as GBPJPY, sterling is very bearish right now. The set up was based on a simple break and retest of the support/liquidity zone (the blue stripe). We can see a huge green shooting star rejected the zone. The spike is more or less due to the FOMC announcement, which also wiped out my other two trades. Then, on the 1H, we see an evening star formation, where I...
From my analysis and seen from the chart patterns i feel GDP/USD will fall into a downtrend
i feel it could turn into an up trend but from my support line it should be a downtrend so my analysis is confusing me.
The dollar continues to consolidate at the top and cant develop a corrective movement that has matured for a long time. In this regard, today's data on US GDP for the second quarter (preliminary) may well play the role of a trigger. On the one hand, the data is expected to be simply magnificent: according to different estimates, the growth rate will be 4.0-4.2%....
reason why i think, this is because the institutional traders will sell off the news (liquidity)
After GDP:USD hit a double top at the resistance I've been bearish ever since. I think we will breakout of this ascending triangle pattern. Wait for confirmation at the lines of the triangle. If breaks down, set a short trade & the target will be the trend line. If stop-loss is broken go long.
As drawn in the chart... a pullback till 0.5 fibo level and then to complete a AB=CD pattern to 1.618 level !!!
the chart is self-explaining
It looks like the gdpusd is offering a good edge, Risk/Reward ration 6.15 !!!
looking for a short opportunity @ 1.458
This forecast is the figure of a trend reversal in UP, if the trend weakening of the upward movement is possible to start moving downward trend
From the lower time frames, the USD looks rather bullish, the reason for that is clear when you look at this daily chart. Over the last week or so, the dollar has made a significant rally and when looking at this rally on the lower time frames it appears the the USD is in a strong uptrend that will likely see new structure highs. However, with that being said,...
Patterns can be failed very unexpectedly. Patient is the key of success. Open your trad on a strong trend. Later I will explain about how to adjust SL and TP. I will also explain how to get reversal signal and have more confidence on your decision. It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish...
The GbpUsd closed in the red after Thursday's wild session. Cutting through 1.55233 will suggest a pursuit of the bearish trend, with 1.54433, as an objective, and 1.5481 as a primary objective. If Friday's movement turned out to be a technical correction, and the parity re-entered a bullish market, which will lead it to 1.55843. The daily Pivot Point is around...