NOT A WIZARD JUST A TRADER WAITING FOR MORE EVIDENCE ..
After a failed attempt of breaking a major resistance at 1.14029 ( indicating a significant opposing pressure on that level ) the bears have managed to start what seems for now a descending channel. I want to see the price retrace to the nearest resistance at 1.12582 to form a new lower high, and signs of...
Bears stepped in after price reached major resistance, managing to breakout from the bullish trend line.
Price now is in a distribution phase, i want to see a break of from this structure and a possible retest before making my bet
Sterling weakens as Brexit fears remain.
A strengthening dollar and worries that it will exit EU without a trade deal at the end of the year weighed negatively on the british currency.
Gbpusd its just above the 20 EMA but showed signs of weakness struggling to break above the resistance zone at 1.25897. MACD is falling below the signal line providing a bearish signal.
SIMILAR SET UP AS GBPAUD
DOWNTREND AND LOOKING FOR SHORT CONTINUATION OPPORTUNITY EITHER ON THE GOLDEN ZONE OF FIBS LEVEL OR AT RESISTANCE 1.65202.WE WANT PRICE TO RETRACE TO A FIB LEVEL OR TO RESISTANCE AT 1.84478 , THAN SEE HOW PRICE REACT ON SMALLER TIME FRAME BEFORE SELLING
GBPAUD IS TRENDING DOWN QUITE NICELY. IM LOOKING FOR SHORT CONTINUATION OPPORTUNITY.
EMA 50 IS PROVIDING A GOOD AREA OF VALUE AND A STRONG DYNAMIC RESISTANCE.
WE WANT PRICE TO RETRACE TO A FIB LEVEL OR TO RESISTANCE AT 1.84478 , THAN SEE HOW PRICE REACT ON SMALLER TIME FRAME BEFORE SELLING
EURCAD RANGING ON THE 4HOUR, LOOKING TO GO LONG AS SUPPORT HOLDING ONCE AGAIN WITH CANDLE REJECTION AT 1.50624. WAITING FOR THE NEXT CANDLE TO FORM, EMA CROSS OVER AND MACD SIGNAL TO MAKE MY MOVE. GOING LONG BUT WAITING FOR THOSE CONFORMATION