Over the past few weeks, GBPUSD has been channeling after it broken the downtrend that started from the last of this month. This is a pure technical momentum based play, where im expecting price to test the high it set lsat week. Price target is around 1.5640
Just entered 20mins ago and this is in line with all the long trades i'm taking n posting for today. This is more of a channel breakout without any clear trends as i'm still bearish on this pair on a daily perspective. Expected target is around .7480
I posted a couple of weeks ago about the possibility of the USDCAD breaching the high on the weekly which is highlighted by the red box. Now that Price has clearly broken it, I am expecting this clear upward momentum to continue. Also to point out, the green trendline has held firm where price has failed to break and close below it, therefore it is safe to assume...
Throughout this entire year, USDCAD has been rallying which can confirmed on the larger timeframes such as monthly, weekly and daily. I'm basing this trade based off of that momentum and on a simple trend-contination setup. As you can see, price has been consolidating this past week and along with all the momentum n volume today coming because of greece, Im...
It looks like we have a double top forming on the GBPAUD. I would be looking to sell at anywhere near the resistance levels and aim for a TP at 1.8300, which is what I believe will be the next level of support. This is a long term trade with a fairly short stop loss 1.84889 compared to the potential upside in this trade. TP1: 1.83871 TP2: 1.83015 Regards...