With GBPJPY pair now making a lower-low, that causes the market sentiment to shift to bear. Expecting bullish candle(s) towards the previous swing low in order to create a good entry to short the pair...
Risk: Long term trend is still bullish.
The uptrend going on with GBPUSD likely to witness loss of momentum for some few days until a clear path is determined for the weekly. Last week candlestick ended with indecision and the week's high or low will be tested next week in order for market to know a possible direction. As the bias is towards long trade, a re-test of last week low is more likely for...
A confluence of pitchfork trendline, 0.618 retracement and 2.618 extension all point to a resumption of EUR/GBP uptrend. This could take it up over 5% throughout the rest of the year back to 2019 highs.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=119.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=118.8.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Hope all is well, my 9th published trade on Tradingview.com (XAUUSD has hit take profit as of last night major move was caused by FED cutting interest rates by 2% and banks driving price down to close gaps in the market)
Taken this short based of recent moves in the FX market, main reason for this short was because of daily closing below the 38.2% fib...