Gold has been trending for some time now, therefore we are only looking to go long on this trade. With inflation having peaked in the U.S, the FED will likely reduce rate hikes from 50bps - 25bps thus signalling likely rate cuts later in the year potentially.
Investors will be pricing this in now hence gold being so bullish and USD bearish.
Trade idea:
- Be...
EUR/GBP 4H
Price has been in an uptrend for for sometime on this pair, as the Pound has been quite weak. As you can see, it was respecting the ascending Trendline, sometimes to the PIP. The Red arrows are showing Price Action, unable to break 4H Resistance for a few attempts. Once broken, I want to see a re-test of that level which clearly happens. The manner in...
Price topped out at 111.974, which held as resistance around the 12th April. Since then price action has seen sellers overrun any potential buying power, after such a strong push we expect to see exhaustion, which we did back up to the 110.50 area. Price is now being squeezed within the symmetrical triangle. Bears where having difficulty breaking the 109.111...
