umayrashrafi

umayrashrafi Updated 

Given the recent market moves and macro economic factors surrounding the GBP, we have outlined two potential scenarios for GBPCHF given the current levels that are in play. The 1.22 level has not been broken since September 2019, if we see a bullish weekly close above the level as well as a retest, we can expect price to move (Long Term) to around the 1.27 region...

umayrashrafi

We have seen CAD hot the monthly lows twice now after tapping at our minor 0.72 region. We can now see that there is an increase valuation with OIL therefore CAD will now look to have a delayed correlation with the commodity. From a technical aspect we can see very clean HH and HL formations as well as a convincing rejection from the 0.69 region. 5 Long positions...

umayrashrafi Updated 

Given the current move of Gold at the moment on a downtrend, we should be looking for shorts in the current region down to at least the 28% Fibonacci Level at 1490 as a short term target for our positions. a longer term target would, in my opinion, be the 38% level at 1447. Furthermore DXY is looking to strengthen to the 100 level and this could act as a form of...

umayrashrafi

GBPUSD is currently just above the banking level of 1.28 with a double rejection at the 1.28403, looking to target 1.268 as the profit area. however this is a short term analysis until we can determine clear direction, post brexit. analysis was done with @ismailesat.

umayrashrafi

In a strong downtrend for a long time and previous analysis covered the reasons, we can see that there was a clean rejection on the 0.675 level which is a very strong of previous support. we can anticipate a further move down to the 0.67 level depending on the way price reacts around the 200MA on the chart. however it is once again in my personal opinion we could...

umayrashrafi

With a key FOMC rate decision on the calendar for next week, in which market participants are expecting to be very dovish, we are expecting Gold to form a new higher high and for the bulls to enter the market strongly. a less of a dovish outlook and we could likely see a pullback to around the 1375 area where our support zone is located. the longer term outlook is...

umayrashrafi

EURUSD is hitting the 1.11200 area acting as a reversal zone and and after testing it once recently I am personally waiting for a retest in the area before entering long. with the USD dollar being very overbought recently ahead of expected fed rate cuts and ECB monetary policy news to come out on Thursday ( expected to be hawkish ) we could see a rise at least to...

umayrashrafi

With AUDUSD in a critical reversal area depending on how it reacts to the trend line we could either see a retest backdown to the zone invalidating our long position or we could see a break and retest to the upside and see a potential move up to our 0.72000 key area at the minimal.

umayrashrafi

GBPUSD is currently in a critical area for reversal, after breaking the Lebel of 1.250 down to 1.24446 only to come back and retest we might see a potential rise from here up to our provisional key area at 1.275.

umayrashrafi

GBPCHF is currently sitting at the 1.23000 zone which has acted as a strong and key support area for the pair since at least 2017. this is a perfect opportunity to go long on this pair to at least the 1.262 area and depending on the way price reacts to this resistance area we should see a further move upwards to 1.280 if there is sufficient confirmation of strength in GBP.