In yesterday's ideas we discussed the momentum building lower in this pair for a potential breakout.
Now price has broken lower it could open the way for further short trades.
If price rotates higher back into the old breakout support level it could be a solid level to hunt bearish price action trigger signals.
GBPUSD has two possible scenarios. The first is to return of price above 1.2740 support, then today’s breakdown of support could be treated as a false breakout. The second scenario is the test of nearest support at 1.2570. Currently this support is further reinforced by the upper limitation of the triangle from which pair broke out in mid-April. Today’s session is...
As advised 23/03. breakout out of Feb low price resulted in a sell of right towards the massive support area 107 - 106. Only 1/2 position invested as price never retraced to the 2nd entry. Prepared to take of position at 107.5 and look for long short term entries.
Another +250 Pips potentially to be earned on the pullback out of the above mentioned support area
The asset has also provided a flag pattern and now is in a flag pattern again, the 100 MA will provide support the price, and the Coppock curve is a in a triangle pattern and it will most likely breakout upwards to be positive. Also, this is backed by the volume decreasing showing a breakout is Imminent.
The Ftse 100 has been reacting to recent events like article 50 activation and is highly volatile.
But the price is a new fan area so could represent a trend change, furthermore the price broke out of the ascending triangle, and now if the price closes below the 200 MA and the trendline - short.
USDCAD has a very peculiar configuration this week.
The support at 1.31220 was violated on Thursday, but the Bulls came into the game to bring it up above it again.
Nevertheless, another bearish bar closed just below it on Friday.
Macro and Cyclicity are expecting a signal to go LONG.
Interesting to watch and see whether this takes a clear position either LONG...
USDCHF might open interesting opportunities if the level around 1.00641 gets broken.
There are three different supports to look at downwards: 0.99421, 0.98382, 0.97390.
While breaking the psychological level of parity might be not probable, the Risk-Reward-Ratio in this case looks really appealing.
A factor of risk is the volatility shown in the last month or so...
USDJPY has closed the week down a neat trendline.
A bullish bar (inverted hammer) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot).
The trend seems clear and is still trading under the EMA, even if the macro factors driving the USD might probably come into the game mid week.
If we trade what we see, we can put...