GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), POWERHOUSE ENERGY GROUP PLC ORD 0.5P, UK OIL & GAS PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, UNION JACK OIL PLC ORD 0.025P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Here we have the channel from the past 1 month, as you can see, we are approaching the bottom of the channel here, so now we are opening up good opportunities to go long.
As the chart shows we've been in a pretty clear channel for the past 1yr, the past few weeks we have been testing the support and bears have been looking to break out of the bottom of the channel, so far with no success, last week we started getting the price back up off the support and if you look at the chart, everything indicates that for now the only way is ...
As you can see here, EURUSD had broken out of the channel it has been in for the past few months and we've now just fallen back into it, however if we can get back out of it there is the potential for a good upside.
The daily indicators tell us its a strong buy with our first resistance target at 1.1787 then breaking through into the 1.18 territory.
Just over a year ago we broke out of the bottom of the channel and now we're getting the all the signals which tell us we may well break out of the top, with the GBP being incredibly cheap at the moment it has great potential to continue to strengthen and burst out the top of this long term channel, as soon as we break out we will be looking for 1.35 and after ...
Looking at this months channel, now is a good time for a short as we approach the top of the channel and open up the opportunity for a nice ride down.