GBP/USD was strongly capped on dollar weakness, that's indicate that pound is not rready to go higher, brexit is playing very important role on pound moves. 14 of January is a big day for GBP pairs, I'm forcesting that May will lose on her Brexit deal and pound will fall to my lowest target.
Trade had broke the resistance which then became the new support and then retested it. It since then started rising
I believe the trade will go up towards the trendline area, which I personally set take profit. The next decision happens from around that area whether it will break or respect.
If it breaks the trendline and closes above then I believe that it...
The trade has recently broke the resistance (now the new support) and then then tested the new support. Now currently rising
I think the trade will go up to the trendline which it has respected in the past and then the next decision is from there. If it breaks the trendline and closes above it could possibly go higher to next key area but if it doesn't and...
EURUSD 0.33% – As we can see, the EURUSD 0.33% created a great new supply on Friday, this supply is fresh and seems to hold unfiled orders, if the price will back to this supply before Creating A new low, I’ll sell there as a continuation trade, my target will be the support zone below. for those who want to take it further, the next target is 1.0950.
My thoughts on two alternate ideas:
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it...
Looks to me that the GBPJPY will struggle around the resistance heavily as it has tested it multiple times already and hasn't broken through in the past. Who knows though maybe it will, you can never know? However more likely a sell looks more like a viable option, dropping heavily all the way to the 61.8% on the Fibonnaci which is a key support zone also. On the...
USDCHF: If you look at the weekly, and go back a few years, it's evident that when RSI is close to being overbought, it drops, dramatically! I have circled these points.
The key here is to wait until the day/week closes to see where we stand. Very rarely in the past few years has it broke from this region, so this remains a strong resistance.
You can break it...
Here as you can see its a short decline trend on this pair but as we been trading ichimuku for a while we feel this could be a buy.
We hope this could push up 200 points or so.
Feel free to comment, below
will be looking for a rejection off the daily resistance, and from my analysis I predict that the price will fall towards the 1 hour support line followed by a few hours of consolidation, good luck traders!
- Pauric Finnegan
BTC has been looking quite strong for the past few days, breaking up into the 7k region and has continued up to the 7300 area where it faces some strong resistance.
As you can see on the daily chart there has been multiple pull backs to the 61.8 fib level after each impulse move. The 61.8 fib level for the most recent push lines up perfectly with the next daily...
Month Support at the 1.15000 level broken. Week candle also closed convincingly below this level heading lower towards the next Week support level of 1.13100. Looking for 4 hour candle close above this level before entering long for a reversal back up to the 1.14000 level.
Month Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position
Sell limit 84.500
Today was a big day across the board. Big moves in the Nasdaq and currency markets, and of course - Bitcoin.
Today Bitcoin confirmed perhaps the cleanest Inverse Head and Shoulders pattern I have seen in a long time. We have popped up almost 10% at the time of writing. Not an insignificant move.
The dilemma we now face is where price has stopped - at trendline...