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We previously sold this pair at 50SMA if you look through the analysis available on our profile; it looks like the downside is due to continue after ending last week with a hammer at the Fibonacci levels highlighted. April 2018 low is the overall target.
We may have a short consolidation period whilst we wait for the SMA's to complete their moves, however downside seems to be present for this pair on a mid to long term basis based off of the death cross beginning to form on the daily time frame between the 50 and 100 SMA's.
Further we have a clear rejection on the fibonacci retracement scale, acting as...
As we enter into August of 2019 we are back to what is considered life time lows for the British Pound, seen previously in 2017 due to similar circumstances surrounding the issue of Brexit. To throw things into the mix, are we now entering the period where it's a good idea to begin buying GBPUSD?
If we look at the entire picture available as shown on the monthly...
This commodity has been showing healthy upside in the recent weeks / months due to the global uncertainty starting to affect the dollar.
I recon we still have room for further upside as we managed to produce a higher high and break through the current resistance.
Make sure you take profit at 1500, as we will likely see a huge drop downwards after that point....
USDJPY - UPSIDE
As per USDCAD, we have upside present for this pair most likely down to the DXY and it's strength today.
Enter with caution the Dollar could fall this week due to interest rate decisions, however the price has likely already been priced in.