I've been looking at this long for a few days now and as NFP is today, I think this could be a safe one to hold over NFP and in to next week.
Target might not be hit as we are going lower, but this could be a nice pull back to trade before this pair make a new low.
This is the 3rd time I've shorted GU at this price this week, we are getting crazy PA as it's the first week of the month with NFP in 2 days on friday, Lets see if we get the sell this time.
I will close before NFP no matter what.
I'm looking at two big swing trades in GJ, the first to 147 as price has bounced off 139.50 and failed to make a new low. We could be completing a A,B,C or this could be the start of the new impulse wave and wave 3 is just about to get going.
My second TP will be at 155, this is where the 1.272 extension is and if price breaks 149 we will defiantly get up there.
Price has turned around at 114.30's and failed to make a new high.
We've had a nice push down and pull back to the 38.2 fib level, I'm looking for price to retest the lows of 108, and it may close the gap.
GBP has been bullish for some weeks now, we made a new high yesterday with a close above on the 4h, price then tried to push back down and failed to make a lower low, with the Bull's in full control I see this going to 1.34 over the coming weeks.
Just my thoughts
Pip'in Made Easy
I have been long in EA for some time now, if price breaks above 1.4650 and stays there we could see 1.56 been teated.
we do still have a gap and french elections coming up so anything could happen.
Looking at the daily chart on GJ I could see this pair falling from here to fill the gap before making new highs.
Over all I am bullish but for us to reach new highs I think lower price needs to be tested.
This is not a trade call, just what I think could happen.
This could be a good place for a EJ reversal. We have the EBC coming out today so that could change things.
My over all out look is EJ will make higher highs, but I think the lows need to be tested first.
AU has been falling for the past 4 week's, we failed to break 0.7600 last week and this week, that leads me to believe there is more down side movement to come.
I have took this trade from the fail, but a safer entry would be after 0.7500 has been broken and retested.
I have been long on this pair since the end of Feb, we have been making higher highs and higher lows and I don't see it stopping till 1.46.
We have now broken the daily/weekly trend line with a small retest.
price could still pull down to 1.42 to 1.4160.
the long set up here is just an example of what price could do, not a trade call, stops and take profits need...