AndrewMagar

AndrewMagar

The main trendlines is drawn from the Daily TF. Yesterday it couldn't close above the trendline denying the breakout. As we look in the 4hr TF, we can see there is a fakeout scenario. The main value zones are in the rectangle shaded box and the line between the triangle.

AndrewMagar

The previous trendline was broken making higher high in the pair. However, eventually it has retraced to Fibonacci Golden Level 61.8 and to add on there has been significant bullish engulfing pattern regardless of positive US CB Consumer Confidence. And I think DXY has also pullback to a significant zone and is likely to go down with chart pattern theories.

AndrewMagar

As EURUSD gained significantly, a retracement is likely is the shown given zone. Apparently that zone is between 61.8 and 50 Fibonacci retracement. Also trendlines also support breaks and contraction. On 21/07/2023, the prices showed really low action. It might be because of huge transaction on 13/07/2023 and after that pin bars are created. The chart is simple...

AndrewMagar

The series of price analysis from monthly basis to weekly have suggested that there has been establishment of Long trend. One of the best price to catch and enter this trend is after there has been correction around 1.65923. Wait for bullish candlestick pattern to complete as well as wait for economic releases. The confirming pattern is likely to come around...

AndrewMagar

The transition stage of UK 11 month can lead to a lot of challenges and is not certain that it can transit with success. Multiple time frame specially the monthly suggest a pattern for bearish.

AndrewMagar

The price to reach the point as marked at 7 Feb 2020 most likely, the daily candle stick again bounced from the area where the flag was made in the previous months. Various analysis as done suggests that throughout the forecast the price level; 1.30889 will obstruct the long. Additional position to be open after analyzing how the price reacts on this level.

AndrewMagar

The minimalist way of zoning the price is used as forth the long pattern is seen in 1D TF. Bounce from the utmost demand zone.

AndrewMagar

Using the method of leveling, this is the way path for GBPUSD today. The economic factor of GBP economic co-oping up can be valuable to this path. *Heads up for the news report of GBP (High Street Lending)

AndrewMagar

The basic use of Zone Trading, pre-existed trend was broken and during these cases likely to retest the zone around 0.69383. As market moves in pattern forming the pattern of Head and Shoulder if formed around this level is a strong confirmation for the short. And many more..

AndrewMagar

If the Brexit happens then high long potentiality. Lets hit at 1.31092 for long order.

AndrewMagar

The overall analysis suggests of shorting this pair. Plus supporting idea of short if this daily candle stick closes below 0.68476.

AndrewMagar

With provided key values and personal analysis.

AndrewMagar

Analysis of Price. Moreover, with GBPUSD correlation with EURUSD this idea is supported. *Be aware of the news of CPI y/y of GBP on 17th December 2019.

AndrewMagar

Analysis of Price Rejection and many more.