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FCPUQ2020 trade ideas

MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish rise Resistance :1.1774 Pivot:1.1650 Support : 1.1497 Preferred Case: On the H4, with the price breaking the descending trendline and ichimoku cloud, we have a bullish bias that the price may rise from the pivot at 1.1650, where the current price and overlap resistance are to the 1st resistance at 1.1774 where the overlap resistance and 38.2% fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the support at 1.1497, where the 61.8% fibonacci retracement is. Fundamentals: Although many data of GBP out today are lower than expectation, the drop of DXY has stronger impact on the price. Therefore, we hold a weak bullish bias.
CME_MINI:M6B1!Long
by Genesiv
1
MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish rise Resistance :1.1609 Pivot:1.1504 Support : 1.1445 Preferred Case: On the H4, with the price pullback from the support, breaking the descending trendline, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.1504, where the current price is to the 1st resistance at 1.1609 where the overlap resistance and 38.2% Fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the support at 1.1445, where the swing low is. Fundamentals: Halifax HPI m/m is out today, which is better than the expectation and previous data.
CME_MINI:M6B1!
by Tickmill
MICRO GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish rise Resistance :1.1609 Pivot:1.1504 Support : 1.1445 Preferred Case: On the H4, with the price pullback from the support, breaking the descending trendline, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.1504, where the current price is to the 1st resistance at 1.1609 where the overlap resistance and 38.2% Fibonacci retracement are. Alternative scenario: Alternatively, price could drop to the support at 1.1445, where the swing low is. Fundamentals: Halifax HPI m/m is out today, which is better than the expectation and previous data.
CME_MINI:M6B1!Long
by Genesiv
BRITISH POUND Futures (6B1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 1.2016 Pivot: 1.1894 Support : 1.1781 Preferred Case: On the H4, with the price moving below the ichimoku cloud and moving within the descending trend line , we have a bearish bias that the price may drop from the pivot at 1.1894, which is in line with the 78.6% fibonacci retracement to the 1st support at 1.1781, where the swing low is. Alternative scenario: Alternatively, price may rise to the 1st resistance at 1.2016, which is in line with the 38.2% fibonacci retracement . Fundamentals: the retail sales data (0.3%) was out today, which is higher than the expected and previous (-0.2%), which is a positive signal of economy, therefore we could expect the drop momentum decrease recently.
CME:6B1!
by Tickmill
BRITISH POUND Futures (6B1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 1.2016 Pivot: 1.1894 Support : 1.1781 Preferred Case: On the H4, with the price moving below the ichimoku cloud and moving within the descending trend line, we have a bearish bias that the price may drop from the pivot at 1.1894, which is in line with the 78.6% fibonacci retracement to the 1st support at 1.1781, where the swing low is. Alternative scenario: Alternatively, price may rise to the 1st resistance at 1.2016, which is in line with the 38.2% fibonacci retracement. Fundamentals: the retail sales data (0.3%) was out today, which is higher than the expected and previous (-0.2%), which is a positive signal of economy, therefore we could expect the drop momentum decrease recently.
CME:6B1!Short
by Genesiv
Micro GBPUSD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2287 Pivot: 1.2157 Support : 1.2077 Preferred Case: On the H4, with price moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise from the pivot at 1.2157 where the pullback support and 50% fibonacci retracement are to the 1st resistance at 1.2287 in line with swing high resistance, 78.6% fibonacci retracement and 61.8% fibonacci projection . Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 1.2077 where the pullback support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Fundamentals: The UK's Prelim GDP q/q and GDP m/m are anticipated to show a decline in economic activity. This gives us a bearish view on GBPUSD . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!
by Tickmill
Micro GBPUSD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2287 Pivot: 1.2157 Support : 1.2077 Preferred Case: On the H4, with price moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise from the pivot at 1.2157 where the pullback support and 50% fibonacci retracement are to the 1st resistance at 1.2287 in line with swing high resistance, 78.6% fibonacci retracement and 61.8% fibonacci projection . Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 1.2077 where the pullback support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Fundamentals: The UK's Prelim GDP q/q and GDP m/m are anticipated to show a decline in economic activity. This gives us a bearish view on GBPUSD. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!Long
by Genesiv
British Pound Futures (6B1!), H4 Potential for Bullish MomentumType : Bullish Rise Resistance : 1.2286 Pivot: 1.2161 Support : 1.2047 Preferred Case: On the H4, with icpre moving along the ascending trendline and above ichimoku cloud , we have a bullish bias the price may rise from the pivot at 1.2161, where the 23.6% fibonacci retracement is to 1st resistance at 1.2286, which is in line with the 78.6% fibonacci retracement . Alternative scenario: Alternatively, price could drop to the 1st support at 1.2047, which is in line with 50% fibonacci retracement . Fundamentals: The interest rate in the UK is at 1.25% with the recent rate increases from the BoE failing to have an impact on slowing inflation growth, as the UK CPI stands at 9.1%, a 4-decade high. The BoE is under pressure to take on a more aggressive approach in setting future policy rates. Gov Bailey indicated that the BoE could increase interest rates by 50bps as it attempts to address the issue of persistent inflation .
CME:6B1!
by Tickmill
British Pound Futures (6B1!), H4 Potential for Bullish MomentumType : Bullish Rise Resistance : 1.2286 Pivot: 1.2161 Support : 1.2047 Preferred Case: On the H4, with icpre moving along the ascending trendline and above ichimoku cloud, we have a bullish bias the price may rise from the pivot at 1.2161, where the 23.6% fibonacci retracement is to 1st resistance at 1.2286, which is in line with the 78.6% fibonacci retracement. Alternative scenario: Alternatively, price could drop to the 1st support at 1.2047, which is in line with 50% fibonacci retracement. Fundamentals: The interest rate in the UK is at 1.25% with the recent rate increases from the BoE failing to have an impact on slowing inflation growth, as the UK CPI stands at 9.1%, a 4-decade high. The BoE is under pressure to take on a more aggressive approach in setting future policy rates. Gov Bailey indicated that the BoE could increase interest rates by 50bps as it attempts to address the issue of persistent inflation.
CME:6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2181 Pivot: 1.2061 Support : 1.1955 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 1.2061 where the pullback support is to the 1st resistance at 1.2181 where the overlap resistance, 61.8% fibonacci retracement and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.1955 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Due to the current political uncertainty in the UK, rampant inflation and relatively modest interest rate increases, we have a bearish bias on the GBPUSD . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!
by Tickmill
1
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2181 Pivot: 1.2061 Support : 1.1955 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 1.2061 where the pullback support is to the 1st resistance at 1.2181 where the overlap resistance, 61.8% fibonacci retracement and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.1955 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Due to the current political uncertainty in the UK, rampant inflation and relatively modest interest rate increases, we have a bearish bias on the GBPUSD. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.2061 1st Support : 1.1955 2nd Support : 1.1778 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 1.2061 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 1.2184 where the swing high resistance,61.8% fibonacci retracement , 100% fibonacci projection and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 1.1955 where the pullback support is. Should price break 1st support, we would have a bearish bias that price will drop to 2nd support at 1.1778 in line with swing low support and 100% fibonacci projection . Fundamentals: BoE Gov Bailey commented that in order to bring UK inflation towards the 2% target, the BoE could consider more aggressive rate increases of 50bps. This gives us a bullish bias towards the GBPUSD forex pair.
CME_MINI:M6B1!
by Tickmill
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.2061 1st Support : 1.1955 2nd Support : 1.1778 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 1.2061 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken the pivot, we would expect bullish momentum to carry prices to 1st resistance at 1.2184 where the swing high resistance,61.8% fibonacci retracement, 100% fibonacci projection and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 1.1955 where the pullback support is. Should price break 1st support, we would have a bearish bias that price will drop to 2nd support at 1.1778 in line with swing low support and 100% fibonacci projection. Fundamentals: BoE Gov Bailey commented that in order to bring UK inflation towards the 2% target, the BoE could consider more aggressive rate increases of 50bps. This gives us a bullish bias towards the GBPUSD forex pair.
CME_MINI:M6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.1957 Support : 1.1784 Preferred Case: On the H4, as prices has broken out of descending trendline and RSI moving along an ascending trendline, we have a bullish bias that price will rise from the pivot at 1.1957 in line with the pullback support to the 1st resistance at 1.2184 where the swing high resistance and 100% fibonacci projection are. Take note of intermediate resistance at 1.2069 where the swing high resistance and 50% fibonacci retracement are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 1.1784 in line with the swing low support and 100% fibonacci projection . Fundamentals: The GBP released weaker than expected employment data, with average earnings at 6.2% (Forecast: 6.7%), and claimant count change at -20.0K (Forecast: -41.2K). However, the overall impact of the data was subdued for several reasons, the DXY is under pressure from a strong Euro , and the data was released earlier than scheduled, catching markets by surprise. This gives us a bullish bias for GBPUSD .
CME_MINI:M6B1!
by Tickmill
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.1957 Support : 1.1784 Preferred Case: On the H4, as prices has broken out of descending trendline and RSI moving along an ascending trendline, we have a bullish bias that price will rise from the pivot at 1.1957 in line with the pullback support to the 1st resistance at 1.2184 where the swing high resistance and 100% fibonacci projection are. Take note of intermediate resistance at 1.2069 where the swing high resistance and 50% fibonacci retracement are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 1.1784 in line with the swing low support and 100% fibonacci projection . Fundamentals: The GBP released weaker than expected employment data, with average earnings at 6.2% (Forecast: 6.7%), and claimant count change at -20.0K (Forecast: -41.2K). However, the overall impact of the data was subdued for several reasons, the DXY is under pressure from a strong Euro, and the data was released earlier than scheduled, catching markets by surprise. This gives us a bullish bias for GBPUSD.
CME_MINI:M6B1!Long
by Genesiv
BRITISH POUND FUTURES (6B1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 1.1953 Pivot: 1.1895 Support : 1.1783 Preferred Case: On the H1, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 1.1895 in line with the pullback resistance to the 1st support at 1.1783 where the 161.8% fibonacci extension and 100% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 1.1953 where the pullback resistance is. Fundamentals: With no major news events ahead, and the dovish sentiment across the UK and the Eurozone, further downside can be expected, which gives us a bearish bias on the British Pound.
CME:6B1!Short
by Genesiv