What do we know? 1) we know Fed is still printing trillions of dollars to devaulate the dollar. 2)Gold recently reached new all time record. 3) Silver which usually follows the Gold, is stil half way of it's all time high ($50) in april 2011. 3) The correction of the impulse move seems completed.
All these indicate Silver/USD is headed to $50. Any correction to...
GBPUSD is in complex corrective channel, and it seems clear take off from the bottom trendline, expecting to reach the upper trenline within the coming 2 weeks. Of course it's important to wait for pullback to happen, preferably to 61.8% Fibonacci retracement before you consider entering.
EURUSD strong bearish bias: The possibility that the last momentum wave of the 8 cycle, the emerging head and shoulders chart pattern, and the strong daily resistance around 1.1370s which the pair failed to break for a couple of days indicate strong bearish bias (technically).
Potential long for 2:1 risk reward if it pulls back to 61.8% FIb which happens to be broken resistance which turns into support and the lower line of the uptrend channel
NB: This is for educational purposes only.
Long GBPUSD, 4chart, if retraced to 61.8% (1.2590) which happens to be the broken resistance turning into support and the lower layer of the up trend channel. TP (1.2790s).
NB: This is for educational purpose only and not an investment idea!