Ahmedmesbah
#GBPCAD Is setting up an IMPULSIVE move prior to BoE IRD MeetingSAXO:GBPCAD
Sterling pairs are generally setting up for an impulsive move prior to the BoE Interest rate decision meeting next Thursday.
The market is pricing a rate cut but if it is to remain unchanged we would see a decent rally to the upside in all GBP pairs.
Take in consideration that price might sink sharply before this or do nothing at all. so a decent SL that fits your trading account is essential to be adjusted.
Follow for more good R/R opportunities.
#AHMEDMESBAH
#USDEGP [W1C] Will the US Dollar Rebound from Current Zone?!FX_IDC:USDEGP
Dollar has reached an important price where it is meeting an important demand zone. Anticipating a rebound from this level.
If the weekly downtrend line is to break next few weeks then we have gotten an important zone to mark for the future.
#AHMEDMESBAH
#GBPUSD [W1C] A Very Bullish Behavior on Bigger Time Frames.SAXO:GBPUSD
The behavior we see now is the same of Gold last few weeks, Price now is testing a strong support and a continuation demand that will probably push price higher overtime.
Price is uniquely meeting both the 20 EMA and 90 EMA at price 1.29300. If it happens and price when retrace to this level, long positions with a very good R/R would be a great option.
#AHMEDMESBAH
#DXY VS #DTWEXM [1WC] Will DXY fallow and FALL?!INDEX:DXY
FRED:DTWEXM
Here is an interesting difference between #DXY "The Typical most used USD Index" and #DTWEXM "The Trade Weighted USD Index" that is believed to be more accurate than DXY.
The 2 pairs have been identically moving together but now we experience an initiative fall on DTWEXM to break the channel.
Is this telling us something about the future DXY move?
#AUDUSD [MNC] Are we retesting a breakout zone?!OANDA:AUDUSD
I see #AUDUSD as an important pair at the moment as it is retesting a significant breakout zone, price went down to retest 2 vital points. the breakout zone and the big monthly demand zone @ 0.68470
When i see similar breakouts i pay much attention to the price where it should fade. in this situation i can see a retest of the demand as well which adds a lot of credit to the LONG theory.
I will be going long this pair as the risk is limited to the expected reward.
Setup is cancelled if price would sink below 0.68230
Important note to mention that Speculators have cut 15k shorts compared to the week before. From 79,312 longs on 7th January till 64,318 long contracts on 14th January!
Trade it on your own risk.
#AHMEDMESBAH
#USDJPY [MNC] Will the Japanese Yen make a counter move today?!OANDA:USDJPY
#USDJPY has rallied since the beginning of January accelerating the upward move that started last September 2019. The rejection to go lower was off the 90 EMA on monthly and has been grinding upwards ever since.
Price now has reached cross roads where it is about to touch the massive downtrend line that extends from June 2015 and been touched and respected for 4 times. Will the 5th touch succeed to send USDJPY lower? especially price is now meeting a monthly supply ranges between 109.680 and 112.360.
We have the BOJ rate decision today which is anticipated to remain the same on -0.1% but will the BOJ surprise us tonight? in my view the catalyst is there and we will trade it in both scenarios, to breakout to the the upside thus the first goal would be around 111.00 or retrace back.