Good Morning Traders. All indicators are bearish on the chart with the upper trendline having acted as resistance twice and price seems to break through the the 69.55 level. I do not consider this to be a strong level and with no immediate strong support level on the daily chart I willing to place a long term trade on this pair. On chart the next strong level...
The 50 MA, my favourite is not far below the price and it will be interesting to see if it can be broken but I am willing to bet it will.
I expect the EURCHF to fall at atleast 60 pips after ranging for a few days on daily chart.
The CADCHF range started on the 5th of march. Price has been ranging between 0.6643 and 0.6900. I think its been bought again recently so long positions at 0.6796 SL 0.6740 and TP 0.6876
I think the recent support level on chart, around 118.80 is significant (red line on chart). The pair will either bounce off it or break through below. I haven't picked a direction yet but it worth watching the next two candles. I will add more info on the comment section
Well traders here I see if you look at the previous 8 candles you will notice long weeks, meaning it is at stronger resistance level. I think this pair can go all the way to recent swing low. Go short at 1.5573 SL 1.5671 TP 1.5419
After a retest of previous resistance level I think price is set to keep rising. Long positions at 65.01 TP 66.97 SL 64.14
I see an ascending channel on 4h chart. With GBP showing signs of strength at the moment. I think this will keep going
Do we have a valid breakout here? With price above the 50 SMA on the 4h chart, if it is I am expecting to catch more than 150 pips here. Long Positions only Entry: 1.2023 SL 1.1804 TP 1.2660
I think that the GBPCAD is about to make a big move. We see that currently price is at the previous resistance level, the red horizontal line which is the average price of the previous contraction phase. Also previous candle is above 50 SMA. I am willing to bet that price will keep moving up if my entry level is hit, otherwise I will reverse this trade. At the...