So for GBPUSD, we can start to see a bit of choppiness entering the market after a fairly strong bull run. Now, price seems to be stuck in the middle and whenever I notice that price is caught in the middle of two ranges, I will draw two zones(as you can note here) and wait for price to retrace to one of my marked spots and see a reaction before pulling the...
With all of the uncertainty regarding the recent remarks by boris johnson it seems as though GBP pairs are moving but not nearly as quickly as usually. As of right now, I don't see much on GBPUSD and will remain on the sidelines. With that being said however, I gave a "Hail Mary" prediction which I will be providing a before and after too. Let's see what happens....
If you look at AUDUSD here, it looks incredibly interesting. First, it seems to be forming a double top and showing a lot of rejection off of the trend line and minor resistance. Also, it attempted to break the daily trend and failed just showing me more signs that it wants to continue lower. I am currently in this trade and did so after it broke the 1HR minor...
With NZD showing some good strength after being pummeled the last few weeks, it’s allowed for some good setups to present themselves. This is one of my favorites. A lot of confluences here:
1) 4H exhaustion
2) 4H double top
3) 4H Evening Star
4) Bounce off daily trend
5) failed retest of daily level
6) 4H Hammer
If I spot 6 confluences on a trade, you better...
With the Coronavirus fears still reaching new heights, I believe safe havens such as JPY will continue to gain strength. From a technical stance, it seems like we are about to test a key level of support and if broken, could potentially setup for a much larger move later on down the road.
