Placing a long trade here for the day, will close before 22:00 BST today to avoid slippage on the weekend.
NFP results are today so trying to stay clear of USD
Not many technicals really line up on the 1HR for a long or short, however, the candles indicate uncertainty and the price history indicated it may long within the support/resistance.
4HR indicate the...
I think I have been hit by another Stop Loss Hunt... I have re-entered the trade by cost-averaging a Long position at 125.622
I think I am learning here that the parameters for my SL & TP might be too tight - If I had placed the SL a few pips further below I would not have been stopped out. ORRR I have just got all of this totally wrong and the trade is going to...
With all of the fairly positive news out of Europe regarding the economic recovery making relative progress. The EUR/JPY chart is suggesting a potential reversal back to the last 2-week up-trend. ECB are also trying to stoke the market with the worry over the falling price, which I think should help drive a reversal.
- Stochastic Oscillator is indicating an...
Potential small retracement on the downtrend for the Euro.
European Retail Sales are released in 3 hours time which might have a bearing on the price action but the £ is fairly weak this morning so hopefully the trade will go in my favour.
Is it time for this upside to reverse?
I have placed a short on the dollar with quite a tight top loss in case I have read the reversal wrong.
1hr MACD histogram is showing a reverse in trend to the short side
1hr & 4hr Stochastic MAs have crossed and are starting to enter momentum territory
Looks like the price may be reversing after a sell-off
Stochastic oscillator is suggesting the market is oversold
MACD & signal line crossing to indicating a price reversal
Histogram on MACD is showing buying volume coming into the market
Price is currently sat a support line
4hour chart indicated the same as the above
Some volume coming in as the lead up to 14:00
Stochastic is indicating a potential reversal in the market, however, I think it will be short-lived and just a retracement in the overall downtrend.
Price has crossed the moving average on the Bollinger bands
It's going to be a quiet day in the UK today as it's a bank holiday and I reckon the markets are going to be subdued in anticipation for NFP on Friday. That said, I have placed a 34 pip short on GBP.
- Stochastic is indicating some momentum, but not loads hence why a short trade.
- Histogram on MACD is showing reversal
- MACD line and the signal line are...
It's a bank holiday in the UK so I am expecting quiet play today
Top-down analysis on the 1Day, 4hour and 1hour chart indicate the market is overbought
£ looks like its at a high and could do with a retracement
Stochastic and MACD all aline to indicate a reversal
Price has crossed the moving average in the centre of the Bollinger bands
GBP trading at the top of a 3 peak resistance
7am candle signalling uncertainty
Stochastic signalling over bought market
Brexit talks today likely to be negative as no progress has been made on negotiations
Following the trend in a support/resistance channel on Eur/Chf
K & D band on the Stochastic Oscillator have just crossed on the one hour chart which should indicate a sell signal
MACD not showing any signals, but this is a small trade so it might not effect the indicator too much
Just 20 pip move in the support/resistance
Large bearish type hammer at 6am
I have closed my long position on GBP/USD as I feel the market has gone as high as it can before the Fed's speech today.
Potential reversal of the market indicated by the stochastic oscillator and the MACD.
4hr Chart showing uncertainty with the last 3 candles