EU Broke the support yesterday and went further down.
However its now starting to bounce off the trendline in the 4H time frame. If this bounces it will be significant so keep an eye on the chart.
TP1 - 1.147
If it breaks through the top then I will update with another TP
See comment for closer time frame.
Ill be honest. The last thing I am doing is selling the lows of GBPUSD.
I am not disregarding the fact it could sell off at the lows. But, I would rather see the price break the lows and trap some traders below.
I am expecting a Bearish continuation Monday ish, then hoping to see a trap, then I will buy. DEPENDING ON PA
Things to consider, GBP is very ...
Price has been trading within a bullish channel for the past two months. As price is approaching the lower trend line once again I am waiting for a bounce of break scenario before entering a trade.
Trade Journal:
Expecting a short-term rally after persistent dumping.
1: Expecting to range towards the bottom of the supply zone.
2: Expecting breakout to retest previous support.
3: 1/2 position speculative long with tight SL.
Supporting:
RSI should head into the oversold area.
Bankroll was decimated in a previous trade with no SL in place.
Mental ...
Looks like NZDUSD has found market structure in the form of a channel, expecting new highs and price to reach upper boundary of channel drawn in analysis.
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AUDUSD has rejected our correction channel finding support around the 0.7350 level. We have entered the trade long with a great risk to reward ratio. Will we see AUDUSD trade to the long side hitting our take profits or will we break this channel and continue to trade lower ?
AUDCAD has rejected strong resistance at the 0.977 level with a bearish candle, this level is also in confluence with a descending trend line adding to a short bias.
Will AUDCAD hit our take profit at the 0.9712 level giving a total of 55 pips ??
Bitcoin/dollar has shown an Elliot wave 5th wave pattern with a ABC correction on the 4HR time frame , making this a completed wave 1 & 2 on the daily time frame. Price has rejected the 0.618 Fibonacci retracement level with strong bullish candles. Will we see a 3rd Elliot wave to the long side on the daily or break further to the downside ?
Hello traders,
In spite of the OPEC Oil production boost estimated in 1 Mn daily barrels, UKOIL has been soaring aproaching 3,5 years highs close to USD 80; since the production supply increase was expected over 1 Mn and the real supply boost might finally be around 600k daily barrels.
Now the price is retreating from USD 79-80 level, after being unable to ...
The euro has broken higher against the US dollar, following softer than expected wage earnings data inside Friday’s key United States monthly jobs report. The EURUSD pair is now trading at its highest level since the day of the last European Central Bank policy meeting. Bulls will look to reclaim the 1.1800 handle, while sellers to look to test towards the key ...
EURGBP Has been trading within a channel for the last 9 months. It is currently testing the upper channel line, the last 2 days candles both with long upper shadows show the bulls are not able to push prices higher at the moment. Fridays doji candle shows indecision, the bulls managed to push prices higher but the bears drove them back down again to close near the ...
BTC is up against a weekly resistance now after a strong push off the 5800 support level. It has created a new higher low here and gone on to create a new higher high.
It has also just broken out of the long term down trend which has been respected since early May.
If it gets rejected here we may head back down to retest the recently broken down trend for ...
Eth had a good pump along with btc over the past day. It is right up against a daily resistance now and if it gets rejected here we have made a new lower high and we will head down to retest the long term uptrend.
If that fails to hold up against the bears next stop is a weekly support at around 392.
Watching closely for a entry either off the trend line or the ...
Ethereum continues to trade below key support on Tuesday, after the second largest cryptocurrency by market capitalisation failed to attract fresh buying interest on Monday.
The ETH/USD pair has now lost over 15% of its value since last Friday, following the strong decline to $435.
Technical indicators remain bearish with further downside for ETH/USD ...
The British pound has moved towards the top end of its recent short-term trading-range against the US dollar, as the greenback moves lower in early week trading.
The GBPUSD pair continues to probe towards the 1.3300 level, but has so failed to gain traction above this key level.
Buyers will need to break the former weekly high of 1.3313 to keep the bullish ...
Kiwi has recently pulled back after breaking to new lows, maintaining the bearish trend of lower highs, lower lows
However, price is not yet overbought, nor has it reached my preferred (As sen on chart) level of resistance.
Once there, I will watch for signs of a reversal...conservative 1st targets at the 38.2% Fib level, with a possible runner looking for the ...
