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Forex101

USD/NOK Long BiasWith price holding its steady uptrend all year I'd still be looking to go long on this pair. At the moment we can see the 4HR had a nice run up on Aug 14 with price going from 8.87136 all the way to 9.03077 where we saw selling pressure come back into the market for a pull back for us to get a possible long position. Pulling the the Fib tool from Aug 14 price at 8.87136 to the top of the pull back at 9.03077 we have a nice zone between the 61.8 and 50 % to go long. Will see how this plays out when the markets open !
Long
by fxjoe_
GBP/USD Short TradeAt this stage the GBP/USD has had a reaction off of a big support level. However, I don't believe the down-trend is over just yet although we are in a major support level. As many know, it usually takes time before a trend ends for a new one to start and if bulls are wanting to come back into the market sellers will still be wanting to gain control and push price down. At this stage, sellers have the upper-hand as there is much more selling pressure posed on the GBP/USD. Based on the analysis, I'll be still looking to play the trend to the downside on the daily chart and chart. Until all 3 moving averages cross over or we close above the 200 EMA on the DAILY, I won't change my bias.
Short
by fxjoe_
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