Time Frame: 4H Symbol: GBPUSD Entry: 1.35501 TP: 1.36923 SL: 1.34334 Bias: Long Today we are going for a long trade. As the volatility is low and GBPUSD is at its short term support level, with a proper volatility in favor, it will revert to its resistance level.
Time Frame: 4H Symbol: EURUSD Entry: 1.12816 T.P: 1.11620 S.L: 1.13867 Bias: Short For EURUSD we are going short. As the current price level is demonstrating a resistance level , we can easily expect a short trade from the bounce. However, special precaution should be taken as the fundamental factors can significantly drive the price in opposite direction.
Time Frame: 4H Symbol: EURUSD Bias: Short We are short for EURUSD. We believe that the strength of EURO will not overweigh the balance of US dollar . For this we are short.
We are currently seeing some pound strength again after the news that EU wont seek to suspend negotiations on Brexit. So I will be waiting for the daily close to asses whats next for GJ, more price action needed for now.
Price is still ranging and complete Bat Pattern on the resistent area. We can expect one more downside.
when 61.8 level meet the structure sometimes become a strong support/resistance. in the previous upward movement 61.8 and structure resistance broken. will in this downside move 61.8 level and structure break ???
Price break the uptrend channel. now price is going to break the neckline support. RSI bearish divergent.
1286 is critical. If pass, it may go 1322, 1346, 1450. Otherwise there is still a risk to go down to 1170. Personally, I prefer the upside move, due to the weakness of USD.
AUDUSD -if the daily and the weekly support is break you can go LONG term &good risk reward but we have to consider the Bearish shark pattern formation. Wait the breakout of the point D (1.13) for ultimate Long confirmation.
Bat and Butterfly Patterns overlapping here with 3:1 Risk/Reward at .381 Fib. Very good long opportunity here.
Many are suggesting that this pair could drop even further and make new lower low and have cited potential bearish H&S pattern and prior strong bearish move to support the idea of continuation of the bearish trend. However I do not feel that this is likely for the following reasons: 1. Having dropped from 2008 high to 2012 low is now in recovery or retracement...