The Tracker Detected a Short Term Demand Level
Potential move to the Upside expected
opportunity for good return on Investment
#priceaction #gbpaud #demandlevel #forex #tradingsoftware #forexsignals
USDCAD | W1 | BULLISH
This is a potential 175+ pip setup.
Our analysis has been produced from the Trend Based Fibonacci.
The methodology has been reciprocated with price action since April 2016.
The price has now reached our 78.6% retracement .
The weekly candlestick has closed above this level which exhibits a rejection.
This analysis also...
The pound has been showing some strength during this week and I belive it has much more strength under its belt. GBPCAD is now setting up an intraday long setup with price down at support and now rejcting off the 50ema. A pin bar forming now would also give extra confirmation. Look to take profit at previous highs, unless price action shows otherwise.
we got stopped out from our initial buys on this pair and are going for another buy now after it has reached yet another strong demand zone. we can see that the bears are losing momentum and there can be a trend switch.
simple setup once again, no need to over complicate the charts, confluences + great RR provides great chance of profitable setups. Short position from the supply zone at 1.84175, we are over extended & due to retrace. This supply zone gives us the opportunity to do that
Here we have a short opportunity we can take on eurgbp. We can see that price is having a hard time breaking above the minor supply zone and therefore we can expect a continuation to the down side. This is a 1:8 Risk:Reward trade.
GBPUSD has come into our sell zone between 1.28500-1.2900 also hitting our fib extension and rejecting thus far. shorts now in play! Brexit vote coming into play tomorrow could be a huge catalyst for this pair to go down south as i believe GBP is way too overpriced given the turmoil it is in with the whole brexit mess.
* Oil price rallied on the backs of an improved US-China trade relationship and continued efforts by major oil exporters to stabilize the market
* More dovish Federal Reserve (cautious about pushing ahead with future rate hikes)
* supply cuts (reductions of 1.2 million barrels a day) on the oil market, which are now finally being priced