Potential setup on EURGBP for week of Mar 12th Possible retracement to 61.8 near trend line then further bullish movement to next support area at 0.8630
Wait for pullback to trend line then long up to major upper resistance trend line
Shorting at 61.8 fib retracement for bearish continuation
GBPJPY retracement play - buy on possible double bottom, take profit at 50-61.8 retracement, then sell and take profit at previous buy entry zone
Retest of 50% area then drop back down on USDMXN
AUDJPY short to 85.40 then reverse back up
Huge breakout coming soon on GBP pairs!
AUD is overbought across the board. USD is gaining strength. Descending wedge happening and looks like AU buyers are hitting exhaustion mode.
Depending on when the next oil news happens..WTI oil looks like its setting up for a nice drop to the 47.00-48.00 area
I alerted everyone in our chat to watch for a bullish breakout of the 140.70 area. We hit gold when it took off. Hit our TP1 and TP2 so far. Not sure if it will go all the way to TP3 but if it does that just means more money for us!!!
Possible Long term short play on GBPJPY