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InvestMate|GBP/USD Don't count on continuation of increases💷💵💷💵GBP/USD Don't count on continuation of increases 💷💵GBP/USD Finally reached an important price level marked by a resistance zone. As we can see, the price has repeatedly found it difficult to continue upwards at these points in the past. 💷💵Will this be the case this time too? 💷💵The support zone to which I expect the price to descend is around the cluster of three fibo levels. The first is 0.382 of the entire current upward impulse. The second is the outer level of 1.272 of the entire downward wave from the 1992 peak to the 2001 bottom. The third is the level of 0.886 of the entire upward wave from the 1985 bottom to the 1992 peak. 💷💵This is the strongest closest support zone, if we were to fall on it I would expect a strong price reaction. 💷💵The scenario I am playing out is the start of a decline with a target landing on the support zone within the next few weeks. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💵 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
11
A race! GBPUSD or EURUSD to go higher faster?Similar to the EURUSD, the GBPUSD continued to surge strongly to the upside as the price broke beyond several key resistance levels to test the 1.23 price area. While the GBPUSD could retrace briefly down toward the 1.2150 and 1.22 price area, look for the development of the price action to signal a continuation of the uptrend. If the GBPUSD breaks strongly above the 1.23 resistance level, the price could continue trading higher toward the next key resistance level of 1.2645.
Long
by JinDao_Tai
2
DXY Index Enter Into Consolidation Range for Long or Short TradeDollar index is trading in upward channel pattern since last couple of year as we have mention in earlier publish idea and it did perform according to analysis . Now it has reach the top resistance level of channel pattern as shown in chart . according to our analysis we might see DXY consolidate in triangle pattern which is shown in chart. and it will breakout from this consolidation range by 2nd half next new year. your question will be answered only if you drop question in below comment section. Thank you
TVC:DXY
by Fx_Trader_ViSa
1
GBPNZD: Consolidation & Indecision GBPNZD is consolidating within a narrow horizontal trading range on a daily. After a sharp bearish impulse, the market is coiling for the entire month. To catch the next bearish wave, watch 1.9125 - 1.92 horizontal support. Wait for its bearish breakout (1h candle close below that). Sell aggressively or on a retest, then. Next support will be 1.889 Be patient and wait for a breakout. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
2
InvestMate|GBP/JPY Continuation of declines💷💴💷💴GBP/JPY Continuation of declines. 💷💴As written in the title I will give you my downtrend perspective on this pair. 💷💴Looking at how the price has been declining over the last two days. We can safely conclude that a new wave of strengthening of the Japanese yen is in progress. 💷💴Ahead of us there is a very strong support set on the basis of up to three fibo levels. The first is the level of 0.236 of the entire upward wave from the bottom of 2020 to the peak of 2022. The second is the level of 0.5 of the entire downward wave from the peak of 2015 to the bottom of 2020. The last level is the level of 0.886 of the entire upward wave from the bottom of 2000 to the peak of 2007. 💷💴It is not often that a support zone is based on as many as 3 such strong levels. 💷💴I have marked 2 resistance zones above. In the description I will focus on the one closest to the price. 💷💴It was determined based on a cluster of two fibo levels. The first is the 0.618 level of the entire downward wave from the 2015 peak to the 2020 low. The second is the 0.382 level of the entire downward wave from the 2007 peak to the 2011 low. 💷💴These are the current nearest zones between which the price is likely to operate. 💷💴Looking at the big picture, the scenario I am playing out is to continue the decline to the support zone and watch how the price will behave there. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💴 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
13
InvestMate|GBP/CAD Declines on the horizon💷💷GBP/CAD Declines on the horizon. 💷This time it's time for GBP/CAD which, in my opinion, gave us a clear signal today on the direction it wants to go in for the next few days. 💷Just look at today's downtrend candle which stands out from the rest in terms of size. And Everything becomes clear. 💷 As you can see, the price has just fallen to the fibo level of 0.786 of the entire upward wave from the 2010 bottom to the 2015 peak. I don't think it represents strong support looking at the dynamics with which we are moving. 💷 The key support will be the zone defined on the chart based on the cluster of two levels. The first level is the fibo level of the entire upward wave from the 1985 bottom to the 1998 peak and the second level is the 1976 bottom. 💷It will be really interesting to see how the price reacts in this support zone. 💷I determined the resistance zone based on the price levels that have provided resistance to the price in the past. 💷The scenario I am playing out is a continuation of the declines to the support zone where I will watch to see how the price will behave. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
7
Traders' inclinations are towards the dollar!China's recent risks took traders' tendencies towards the dollar at the beginning of the week. Examining the state of the trend on the four-hour time frame using Elliott Wave Theory, the recent top created on November 24 is not yet an evolution of the uptrend from November 21. To create a major pivot, it is necessary for the price to be pulled below the range of 1.2012 - 1.1979. As long as the price trend is above this zone, we can hope for continued growth up to 1.2245-1.2260. Stabilization above the range of 1.2104 - 1.2087 is a suitable confirmation for the return of bullish tendencies to the market. One can be patient until the price returns to the top of the zone to reduce the risk of buying transactions.
by MonoCoinSignal
4
RLinda ! GBPUSD-> Channel support test. Will there be a rebound?GBPUSD is in an ascending range. The currency pair is clearly observing the upward support line. Formation of a pattern, which is interpreted as "continuation of the trend" The price pulls back from the high of 1.2153 and a "symmetrical triangle" is formed from the support line near the uptrend support area. I think that breakdown of the pattern resistance will allow to form an imulsion towards 1.2293 I assume that the price will continue rising in case we see a breakdown of the triangle resistance. It gives the potential to grow to 1.2293, and the next target is 1.2405. But nobody can rule out a break-down of the pattern support, in which case the price might fall to 1.1933 Regards R.Linda!
Long
by RLinda
18
GJPart 3 Textbook sell pattern, straight forward and easy to spot. The build up of price and the steepness of the gradient, further shows us that the "Mighty will always stumble" 🤣🤣🤣not the best analogy but it's the way it makes sense in my head. I'm still gonna WATCH & WAIT, Due to it being year end a lot will happen and affect the whole years trading. How it effects me, is that I try keep busy with other things and this leads to very poor trading decisions as I will only be aiming to close on profit but overly exposed. So this more than ever is time to start the review of the year and just how important it is to stick to my rules.
by Mhangwane1
InvestMateGBP/JPY Attention, strong line of resistance ahead💷💴GBP/JPY Attention, strong line of resistance ahead. 💷💴That's as I wrote some time ago about the upside on this pair. Link below: 💷💴Now it's time to refresh the topic and give you my latest view. 💷💴As we can see the Pound is not giving up and is trundling forward with most forex pairs. 💷💴I determined the support zone based on the cluster of fibo levels of 0.382 of the entire last downward correction and the level of 0.886 of the entire downward wave measured from peak to bottom visible on the chart. It can be seen that the price has repeatedly found this level as resistance but also as support in the past. 💷💴The resistance zone results from a cluster of also 2 fibo levels. It is a double of the 1.272 level of the same waves as the support zone. This combination creates a really strong zone. 💷💴Beginning with the fact that GBP/JPY is in an uptrend of several years, I don't think getting this level will be a major problem. 💷💴The scenario I am playing out is a continuation of the upside to the resistance zone where I will be watching closely to see how price reacts. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💴 *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
7
EUR/GBP No chance for growth💶💷💶💷EUR/GBP No chance for growth. 💶💷As I have written many times before, my opinion remains unchanged, I still believe that we are in for declines on the EUR/GBP pair. 💶💷Link to previous posts: 💶💷I am again bringing you an Update to give you my perspective and current thoughts. 💶💷The chart has been updated with new support and resistance levels. 💶💷 Let's start with the resistance level we are at. 💶💷It was determined by a cluster of fibo levels. The first is the 0.618 level of the entire upward wave from bottom to top, the second is the 0.786 level of the entire recent upward correction. As you can see, the price has repeatedly found either resistance or support at these points. 💶💷 There are support zones ahead in the south direction. 💶💷The first one was determined by the 1.272 level of the entire upward correction and we can see that the price has paid attention to this price level in the past. 💶💷The second was determined from a cluster of levels. The first is the 0.786 level of the entire bottom-to-peak wave and the second is the outer level of 1.618 of the last upward correction. 💶💷The scenario I am playing out is a continuation of declines to support zones with the possibility of corrections along the way. If the perspective would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
21
GBPUSD Sideways Following Record Lows!The GBPUSD made record lows in September this year. Price declined to a new all-time low at 1.0356 as it passed the low of February 1985 which was at 1.0520. The British pound has strengthened since then, rising up 16%. And in doing so it has moved back into the long-term consolidation zone. Within consolidation, price is currently around the 1.2000 round number which may hold as resistance. But ultimately we are waiting for a breakout of consolidation resistance at 1.4376 or support at 1.1409. Patience will be require for this asset as it could take months or years before a setup occurs. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
GBPUSD bull continuation From HSBC this morning: The UK PMIs were both unchanged from their October levels in November, with manufacturing at 46.2 (consensus: 45.8), and services at 48.8 (consensus: 48.0). This marked the fourth consecutive month in which the composite PMI (48.3) was below 50, indicating a contraction in private sector activity, with the surveyors reporting that “squeezed client budgets continued to hit demand in both the manufacturing and service sectors”. In manufacturing, some indices, like output and new orders, ticked up, but remained well below 50. But the pace of job losses accelerated (chart 1) and the new export orders index dropped to its lowest since May 2020. According to S&P Global, “many survey respondents commented on Brexit-related constraints on export demand in November, in addition to the unfavorable global economic backdrop”. Not all bad news It was not all bad news: supply chain indicators for manufacturers continued to improve, and survey respondents said that fewer issues on this front had helped to lift production volumes in November. Meanwhile, services business confidence rose a little, as fewer respondents cited domestic political uncertainty as a concern. Remarkably, the service sector continues to be in hiring mode, albeit with the employment index falling to a 21-month low. The price indices continue to tell a broadly disinflationary story, though the services input price index rose again, after five months of declines. Implications The best we can say here is that these numbers are a little better than expected (though not by us: we had looked for a small bounce given the UK’s new-found relative political stability). We have a new PM and a new fiscal plan – and although the latter actually increased borrowing this year and next – and kicked the tough decisions into the long grass (see Back(loaded) to the future, 17 November 2022 – that appears to have been enough for the market for now. It seems UK businesses are less impressed, though: increased political stability was a factor cited by S&P Global in the slightly improved composite confidence index – but this only rose to its second lowest since May 2020. Indeed, there was little in the Autumn Statement for firms. For them, the freeze on energy prices is set to expire in April, with little support to offset this for those outside the hospitality sector. This underscores the scale of the challenge facing the new PM, in what should be his honeymoon period. We think the UK is in recession (as do the Bank of England and the Office for Budget Responsibility) – • The UK PMIs were unchanged in November, compared with October, with manufacturing at 46.2 (consensus: 45.8) and services at 48.8 (consensus: 48.0) • Price and supply chain indices continue to tell a tale of broad improvement… but the survey backs up the view shared by ourselves, the BoE, and the OBR that the UK is now in recession and these sub-50 PMIs attest to that. While there is clearly some improvement in the goods price inflation outlook – and we revised down our profile for CPI inflation next year, on the back of the new household energy cap that was announced last week – underlying pressures are still elevated. The rebound in the service input cost index is a reminder that the wage growth piece of the inflation puzzle is far from resolved. ------ The price action tells you everything you need to know. The markets used the UK PMI to rally as the US dollar dropped as we get closer to the FOMC reducing their rate hike cycle.
Long
by Macrobriefing
Time for the Sterling to revist supportPrice has formed a rising wedge formation seen on lower time frames, confirmed by decreasing volume as it tests Aug 1.20x support as resistance. This also marked a 50% retracement on higher TF (clear on Daily), showing high demand for selling and a slowing bullish momentum, also confirmed by ST as it shows a peak at 1.2025. Key levels to watch are: 1.119x (50% retracement on lower TF), 1.176x of Jul lows and obviously the 1.20x local resistance level.
Short
by UnknownUnicorn11898468