The price of GBP/AUD is approaching a double trendline that will either send it back or will be an opportunity to get LONG. Ideally we will see a break of this resistance and a return to it to test for support. If we get that we can go LONG from 1.8800 area. With GBP/AUD currently only just above the monthly 23.6 Fib level at 1.8159,should we move higher, it...
EUR/CHF has been squeezed into a very narrow trading band between 1.0950 and 1.0900. A break either side could set the direction of this pair for some time. Interestingly the 200 day sma falls right in the middle of the wedge. As the price has been held under the 200 for several hours now, I favour a move to the downside.but we could move sideways for a while...
EUR/USD has made an impressive move north but appears to have failed to take out significant high at 1.1375. Signs are we are headed lower and initial target could be 1.1096 area which is the 200 sma on H4. Price is trading under the 200 sma on H1 and I'm SHORT this market from 1.1158 with a STOP above the 200 and the 38.2 fib at 1.12204.
The 200m day simple moving average is a must on every chart and every time frame because it's frequently a line in the sand. If price reverses at the 200 sma then you have a convenient SHORT trade with an obvious STOP (above the line obviously) . If price breaks through the line and either leaves it behind or comes back to test it for support and then leaves it...
EUR/GBP has now been trading in a 28 pip range for 20 hours. When you have a sequence of candles all confined within the range of the initial candle, this candle is called a Master Candle. In the example the candle marked is not technically a Master Candle as the next candle pushes half a pip higher than the Master but to all intents and purposes we have a Master...
I am very BULLISH SILVER but that doesn't mean its not worth shorting if the technicals are favourable. My preference is to get LONG above 15.87 but if price falls below 15.69 then I'll look to SHORT down to 15.52 (200 sma on H1) or lower.
Studies stretched on EURGBP and signs are we're headed lower. SHORT from .7875 STOP .7887 TARGET .7757
09:30 saw the release of Average Earnings and Claimant Count Change. Both exceeded expectation. This would normally see the GBP strengthen but so far we have seen little movement in either direction. 1.4078 was the low on 15th Jan 2016 and this level was (almost) reached 3 H1 candles ago and there are signs this may have been a double bottom.With RSI turning...
Very mixed picture for GBP/USD with several unanswered questions. If 1.4436 is a lower top and we wont know this for a while then we can expect GBP to weaken at the start of the trading week. RSI on H4 is overbought and turning south so we can expect some movement south if only to ease o.b. conditions. The question is how far will any retrace go? As long as we...
EUR/GBP increasingly overbought and heading for stern resistance. Looking to SELL this pair if we reach .7857 where I have a SELL LIMIT order set. The GBP was under the cosh yesterday and is down over 1% today so caution is needed but with oversold conditions on most GBP pairs, if we get GBP buyers entering the market then SHORT EUR/GBP makes sense............but...
On Friday selling EUR/GBP looked a good thing. Price had fallen out of the up channel it was in and had re-tested the channel and failed to break back.. With RSI overbought I was happy to SHORT this pair down to lower levels. Mondays open saw GBP weaken quite dramatically and even with EUR/USD falling this was not enough to move this pair south - a clear...
On 14th December 2015 XAGUSD put in a low of 13.62. Since then we have seen SILVER move higher and there are no signs that we're headed back to test that low any time soon. I have multiple positions open LONG SILVER and I can't foresee a time when they will be closed (now 15.44) Currently price is moving out of the monthly 23.6 Fibonacci zone into the 38.2 Fib...
EUR/GBP sits at a significant level. Price is slipping beneath a confluence of 200 sma 50 sma and 50.0 Fibonacci on H240. This looks a significant move and a failure to hold .7740 could see this pair enter a long term down phase. I'm in this market from .7751 and .7743 with a STOP at .7790. Target for this trade is .7350 area (200 sma on Daily TF)
Last week we wondered whether Draghi and the ECB would bring out the big guns and make a determined effort to weaken the EURO. Initially it looked like he did but then his casual "no need for further rate cuts" comments sent the EURO into space. Difficult to understand why he would say something that would have such a significant impact on the EURO unless he just...
1.4228 was a significant level that GBP needed to clear as this was the low from 16.5.2010. WE are safely above this level and with the absence of any further specific GBP related news, GBP/USD looks to be heading higher. I'm already in this market from 1.4275 with a STOP at 1.4248 which I shall move to b/e shortly. Target for this trade initially is the band...
GBP is on a tear and EUR/GBP looks very vulnerable to further declines. I'm SHORT this market at .7751 with a STOP above the previous high at .7790. Target for this trade is the 200 day sma on D1 coming in at .7348 area
The big question is will the ECB disappoint the markets at 12:45 as they did last December with a predictable rate change and a cautious change in the QE program. The odds are high that they will. Considering all the ECB's policy measures are limited at best and that the ECB will need to leave some measures off the table for future intervention, its a fair bet...