From the level of 1.28 I have been expecting a corrective structure, we have seen the corrective structure. Friday was a bad day for GBP, it broke two of my diagonal supports.
The price seems to drop a little more , the yellow area is my BUY AREA, from this area I would only consider long positions.
Let's talk about GOLD!
I rarely trade gold on moments such this but let's analyze this pair.
The NFP numbers were decent, today we saw a big fall in the price due to the fact that the 2509K was much better than the forecasted -7750K BUT ...
The actual situation of US doesnt seem good.
From a technical point of view , we find ourselved at a very good support...
ongoing tension over the death of Mr.Floyd as riots go on in most cities
US continue to have major problems with the virus
This is why now I am totally bullish on this pair, and quite positive to see a spike since I also predict a strong GBP in the upcoming weeks.
I made good profit last week from this pair. The price rebounded as expected at 1.65 at a strong support level. I think this marked the end of the downtrend, if this pair would have continued the downtrend the price would have fallen below that support level. The rebound was a clear buy signal for me. Also my resistance line was broken and now serves as a...
EUR/JPY is on a clear downtrend, the price is right now near a strong resistance level.
We have a double scenario, the price can fall from 120 price level (at a weak resistance), or keep rising to 121 and then fall to support at 115 .
Next week is the first week of the month and we have a lot of economic data realeased which will strongly affect the...
GBP/AUD price is now resting at a good support level, respecting the rising channel. I had quite a lot of fun analyzing this pair, the BAT pattern is possible, I forecast a strong push up in the next days.
The BAT harmonic pattern then would conclude the rising channel with descending momentum.