The last 15M candle closure indicates some buying pressure after the structural shift but then again this could just be end of week market manipulation. We are more than likely to see the price come down to test the strong supportive level and gain liquidity before we see a strong upside move but then again price could fly to the upside from the current area it...
EURGBP H4 - We saw this bounce from support to resistance over the course of last week, market gapped down and then retest that 0.91 handle nicely. We covered this in the weekly watchlist video posted yesterday, strong GBP gains as we kicked off EUR and LON open!
EURAUD H1 - This pair tried to bounce off support yesterday, but quickly round resistance at around 1:1.3, following protocol this would have been risk free. Still flirting between that 60 pip range, markets are fairly flat at the moment, looking for something to spice up today. Not masses on the economic calendar, but hopefully we can find something that moves...
GBPCHF H4 - Same reasoning for EG shorts, fundamentals spiking GBP and market volume comes into play and EUR/LON markets react to weekend headlines. Still best practice to let the dust settle after such an opening. Personally like to let London morning do it's thing before looking to scout any trades out around NA/LON overlap time.
USDJPY H1 - Eventually broke that resistance price of 105.420 yesterday, looking to see a market correction to test that price as support again, another really good RR setup. All of the above range from 1:5 to 1:7
EURJPY H4 - Looking for this pair to find support at current price on that 124.500 half number. Monthly key level, previous S/R and trendline test. Few confluences there, just need to hold off and see if we find support first with some maybe H1 reversal signs.
GOLD'S RECENT CLOSING PRICE SIGNIFIES A BUYING PRESSURE IN THE MARKET WHICH MAY CAUSE THE PRICE OF THE COMMODITY TO RISE TO IT PREVIOUS SIGNIFICANT HIGHS 2000.00
CLOSING PRICE 1930.00 AREA, TENDS TO TAKE OUT RECENT SIGNIFICANT HIGH 1913.00 AREA CAUSING A CHANGE IN MARKET STRUCTURE.
THE CURRENT CLOSING PRICE ALSO SHOWS A BREAK OUT OF A TREND ON THE DAILIES CHART...
Following the previous 12 month chart:
A nice trendline break and retest would be a great chance for a short.
I would expect the end of year, the 12M candle close, to be a doji, so a reversal from these fib retracemtnes and if it holds as resistance for the rest of the year should...
AUDUSD H4 - Lots of resistance just above current price, 0.72 is quite a bit psychological number, monthly key level, and resistance just a little above. Could be a second test of fibs/resistance before dropping again.
Aggressive selloff fueled by BOE. Other GBP pairs seem like they want to start correction, we have some sort of support zone here on GU, but still very active with bearish markets, interested to see if current price holds as support.
GOLD H4 - Huge dump at the trendline resistance, dumped circa 200 pips down to the next S/R zone, could be a region where we start to gear up for a second attempt to break the descending structure/resistance.
GBPUSD H1 - Another H1 chart here for a GBP pair. If we can push up again to test 1.29 possibly, that could warrant a good rejection to see us back down to the previous low region again and then possibly beyond.
EURJPY H4 - Seen a little lift here on EURJPY, bounced from support initially, not sure how much mileage this has, but we need to break that sequence on lower highs shown from between 10th and current date.
EURGBP M30 - Saw a break and retest of this pennant last week, but this was quite late during the week and markets then closed, and also failed to set new highs beyond the breakout high. I'm neither bullish or bearish on this until we hear more from the vote later on today. This will then set the tone going forward for the GBP markets and to a degree the EUR markets
GBPUSD H4 - Breaking the corrective consolidation from last week (the flag consolidation range). Possibly could see market correction up towards the previous S/R zone. Again big moves expected later off the back of the vote this evening.
EURJPY H4 - Gains seen for the EUR off the back of ECB and Lagardes comments. She's pushing she euro up nicely to break the previous S/R zone at 125.400. Hopefully we find resistance around that 126.650 region.