Looking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
Hi, Buy 1315-1325 - You're looking for a long red candle-wick on the 4 hour or daily for your entry point. Best to wait for confirmation.
To the Technical Analysts - An Inverse Hammer for entry signal.
- Divit -
P.s: Keep your eyes on the news ( Chubby Korean Boy dropping bombs like Travis Scott Drops Hits )
Declines on AUDNZD has been going on for three months. In previous week demand tried to reverse this unfavourable situation which ended in a rebound from resistance at 1.0550. Support at 1.0390 also did not stop the sell of and as a result AUDNZD reached its lowest level since January 2017.
Current target for bears is 1.0340 support. At this level we could...
Bears on AUDNZD took wind into the sails. Strong declines began on May 22nd and since then price has fallen from 1.0750 to 1.0425. During this period following support levels were broken: 1.0570, 1.0500, 1.0440. The nearest support towards which currently price is heading is 1.0390. This level can provide a temporary correction, but main target for bears is below....
Here is a nice Trend Continuation Trade on GBPJPY. Made a deep retracement right back into the previous structure level which is holding. Great opportunity to enter a low risk short position with the overall bearish trend. Target would be a retest of previous lows and could use an advanced target to shoot for a 127.2 extension
1) Expecting a pull back into Daily resistance zone @ 113.847
2) If Daily resistance zone @ 113.847 holds
+ break of trend line expecting shorts to lower bounds of the range @ 112.35
3) Downside target ~ Support zone @ 112.354
4) if downside target @ @ 112.354
is achieved and broken will watch price action in this zone for further shorts towards 110.939 zone
Gov Lowe speech Highlights:
-RBA GOV LOWE SAYS INFLATION IS EXPECTED TO REMAIN LOW FOR SOME TIME, BUT THEN TO GRADUALLY PICK UP AS LABOUR MARKET CONDITIONS STRENGTHEN
-RBA GOV LOWE SAYS OUR VIEW IS THAT A FLEXIBLE MEDIUM-TERM INFLATION TARGET REMAINS THE RIGHT MONETARY POLICY FRAMEWORK FOR
-RBA GOV LOWE SAYS A FLEXIBLE MEDIUM-TERM TARGET IS THE BEST WAY...