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EURNZD is in the middle of a correction and what looks to be a flag pattern. In addition, resistance at the 61.8 to 71.4 zone from recent swing high and low it has respected the zone forming a bearish candle on the H4 and a stochastic divergence indicating selling pressure on its way in this zone with an additional ABCDE pattern to potentially follow through.
. There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPUSD is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
GBPUSD, Buy on H1.
- Price: Test support weekly and move up
- Structure: Minor uptrend
- Tendency: Strong upward
- Above support and MA
- waiting pullback : zone 1.220-> Give signal candle => BUY
- Take profit: 1.237
Looking for GBPUSD to retrace a little bit longer. It was well over due after a 250 pip daily close, last time GBPUSD even got close to that was back in January. Either a serious momentum shift or a planned stop run on all long term short sellers of cable. You never know unless we see continuation. I have noted key areas of value on Gu and will be looking for buys...
Here is a trade based on correlations.
GOLD and NIKKEI are negatively correlated, Also Gold and USDJPY are negatively correlated too. (see correlation coefficient indicator in the chart) Therefore if you think NIKKEI may possibly be rising, then GOLD has more downside pressure from stocks.
In the last two posts I believed US stocks may rise, hence GOLD may fall....
The movement of the exchange rate was closely followed by the analysis. The reason for this is that the current motion is a 2X fractal motion. Therefore, I suggest that until you get the opposite signal, it is advisable to go along this "fractal trail". This now means looking for a long entrant. The primary target price is 11035 usd. In the event that the momentum...
On the left is trading, on the right is theory. The entry level is around 1,1092. This level is an H1 head-shoulder or an M15 ATR half distance. In my experience, these two signs together are a sufficient condition in daily trading. The target price is H1 MA100,200 crossing points. The target price is 1.1190