There is a divergent formed at GBPUSD pair which suggest there is a possibility that the price would go down and break its trendline. With a positive RR, I think this can be a quite decent opportunity.
Head & Shoulders pattern completion shows that currently the price is retesting its neckline. There also 2 potential resistance area above it. Good RR ratio means that its worth enough to take a trade on this pair.
Divergence and symmetrical triangle break suggest there is a possibility that the price is undergoing its reversal progress. Please apply your MM and trading rule accordingly.
Neckline + descending triangle break suggest that the price will continue to the upside, technically...
With FED hawkish comments comes a Head & Shoulder pattern completion potential on EURUSD. If the price broke the neckline then The green box which is an extension of Head to Neck length will be a good target price because it confluences with previous structure point.
USDJPY currently hovering near its monthly lows. With (very) positive RR it is a good chance to buy this pair then adding position along its way to TP.
GBPUSD has broken its weekly trendline on 4hr timeframe but it seems this pair struggle to break the 1.285 barrier. A fresh surge (buyer or seller) may determine this pair movement until Friday.
We got a rejection on support area. With a good RR this is a good chance to buy this pair.
There is a long wick in DXY today which shows a price rejection on that area. Does it means that there is a surge of buyers there? Lets see if its strong enough to turn the dollar upward.
With dollar weakness comes possibility for GBPUSD to continue its upward movement or at least testing the weekly trendline. If the weekly trenline is broken then the bias will be Bullish or at least until the MPC Vote
If we look at previous months candles we could see that right now dollar has entered the previous buyer territory. Within this area anything could happen and if it moves lower and broke the previous lowest point then it would be more difficult for DXY to recover its ground.
DXY could move lower and reach the downside support if it broke the 95 barrier. If its not then we could expect there will be a surge of buyer near that level
The price comes at confluence between 76.8% fibs and weekly trendline. We could say that if the trendline broken than the bias will be shifted to bullish. On the other side if the trendline holds then there will be another move down possibility.
There is another selling opportunity (or short trade re-entry if you still holding short position from last week) at the blue area.
After close right at 96 psychological level there is a chance that dollar wants to go higher.
If we refer to weekly price pattern then there is a possibility that gold will move lower to retest the 1.2000 area. Red zone will be the most ideal place to place short trade with green zone as the profit target.
GBPUSD reaches the resistance at 1.3 area. Considering there is still uncertainty factors within the brexit deals then I think its a good chance to try another chance to ride on GBP weakness
If the red box which shows the support area is not broken then we could expect a bounce on next week