Expecting sterling devaluation - trade mainly incentivised by US Dollar strength I am expecting as the US session opens later
Just above a 1:1 risk to reward for this position - with a 115 PIP take profit.
This instrument has signalled a lower swing high which was clear and evident from yesterday's trading day. Given the expected decline in the US Dollar currency Index - I will be expecting a further decline on the valuation of this exchange rate - with price re-visiting the 110.437 demand region (which is a critical zone)
Straight forward 1:1 risk to reward with...
In the midst of the current bearish GBPJPY trend - a smooth false break from the 4-hour time frame has occurred, in the direction of the existing trend. Entry taken from the 1 hour time frame, as price penetrates through dynamic support zone.
Holding short till 139.847 demand.
EURUSD Finally penetrates through the 1.1500 psychological level and creates new lows at 1.13695. As EUR buyers attempted to push price above the 1.13954 level - the bears took over and pushed price back below this level creating a false break from the intra-day perspective, which actually coincides with the prevailing momentum on this instrument.
AUDUSD SHORT - Obvious lower swing high has formed from the 4 hour perspective - expecting the previous lows at 0.7329 to be met and potentially penetrated to the the downside triggering in a LOWER LOW
Expecting US Dollar strength across all major G10 currencies - stop loss placement is above the previous lower swing high as you can see as it is a safe area for...
Predicting a bearish reversal on USDJPY. Price rallied up towards 114.478 weekly resistance zone, however we are facing an overall bearish momentum which also reinforces bearish movement. Stop loss is placed above the weekly significant area, and take profit is placed at the next possible turning point (minor support zones) at 113.095.