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EURGBP FORECASTEURGBP is looking ripe for a correction from its recent upwards run. MACD is signalling bearish divergence as price now sits near support. We expect price to bounce off initially, retesting local resistance. If we see prices get rejected at resistance, expect a sharp decline down to the next support level. Alternatively, price could breakout on either side, targeting the next set of levels shown on the chart. However, we see a bearish bias this week. Trade idea: Short @ ~0.9020 TP 1: 0.8935 2: 0.8945 SL: 0.9039
Short
by Elemont
We expect the level to breakOur pair again reflected from the level of 1.3150, after which it headed down. Our technical indicators show the sale. To date, we expect the FOMC statement and the publication of the Fed's interest rate decision. We can assume that until this point the dollar will continue to strengthen against the pound. We expect that the pair will test the level of 1.3080 and in case of breaking, the pair may continue the downward movement to the level of 1.3010. Therefore, we advise you to look for points to enter short positions.
Short
by SuperForex
Looking for levelsOur pair has good growth potential, but there are some aspects to consider. We expect the continuation of the ascending movement. Our technical indicators also indicate a purchase. In the medium term, we can expect the price to pass to the level of 1.2, but the next level that must be overcome is the 1.1850 level and only if the pair is fixed above this level, we can say that the upward movement will continue. We recommend you to take long positions and set TP closer to 1.1850
Long
by SuperForex
Reversal on EURJPY? I think soHi guys, this is the hourly chart on EURJPY and i'm taking this long trade because of several reasons. First of all, we're in a strong supporto zone on the daily chart and we're also creating a nice divergence on the RSI there. Then, if we lower a timefeame (4H), you can see a couple of pinbars (candles with long wick to the bottom) signaling buying pressure entering the market (and also an engulfing kicker). Last reason comes in this timeframe with a double bottom closed by an engulfing candle right now, that could be the first sign of the bulls taking over the bears here. If you have other ideas, let me know. Otherwise, see you in the next chart!
Long
by Roker1
GBP/AUD Multiple setup opportunity GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break through, wait for a retest on a 4hr time frame, after the retest confirmation issue your buy and hold for at least 50 pips.
by NEXT_LEVEL_ENTREPRENEUR