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Theforexportal

Marubozu weekly candle on GBPUSD - very BEARISHThe GBP came under severe pressure last week where it lost ground against all currencies save from the AUD where it gained a modest 50 pips but this has to considered quite an achievement considering the GBP fell over 200 pips against the USD and the JPY. The GBP/USD weekly candle was particularly revealing as it was as close to a Marubozu candle as you are likely to see suggesting the BEARS had complete control of the market from first bell to last. Should we see continued selling of GBP next week this could indicate a significant reversal of the GBP's recent bullish direction and open a move to retest recent lows at 1.1987. However, current levels do offer some support to the GBP so its not out of the question that the GBP may find buyers in this area but a failure to take out 1.24 on Monday could open the door to a major move south.
by theforexportal
GBP poised for a move higher but caution neededWe've just gone LONG this pair from 1.2400 with a STOP under the H4 200 at 1.2381. Not too convinced by this trade but WS1 and H4 200 sma is offering support and for a 19 pip risk this trade looks value. GBP/USD has lost ground this week with some mixed UK numbers - with Manufacturing Production and Manufacturing PMI missing though Services PMI came in better than expected. Last week the GBP had a BULLISH feel but the mood has shifted to neutral. Under 1.2377 then we would look to SELL this pair for a significant move south.
Long
by theforexportal
Significant move ahead for GBPJPY?For some time the price of GBPJPY has hugged the 200 sma on the DTF. Yesterday saw another touch of the 200 and the price immediately headed north though price declined throughout the day. As long as this pair remain above the 200 we should see a move higher. Adding to this BULLISH analysis is the RSI which has turned north from lower levels. I'm watching the TDI on the DTF as this has been squeezed for several weeks now and if we see the RSI cross over the signal line as it appears poised to do - this could also be a BULLISH sign. I've gone long from 138.27 with a reduced lot size to accommodate a long STOP at 137.00
Long
by theforexportal
SELL the EUR/CHF at marketSince the January 2015 crash, the price price of EUR/CHF has hit a high of 1.1197 but has steadily declined since then and fell to a low of 1.0621. Since hitting that low, price has meandered in a tight trading range but is relentlessly heading down to back to this critical level and it is known that the SNB has been busy defending its currency. The problem the S.N.B. have is that the Swiss France is a safe haven currency. When there is uncertainty in the market there is a flight to those currencies considered “safe”. Switzerland is a neutral country with huge reserves and solid a solid banking structure. Its economy is stable. With stock markets ready to fall and uncertainty surrounding the European Union with Brexit and the possibility of a Le Pen victory in France, investors are less interested in yield and more interested in safety. Even with intervention and negative interests rates (effectively charging you to park your money) , the Swiss Franc is attractive and if this is the case even when equities are pushing higher what is going to happen if we see what looks an almost inevitable decline in stocks sometime this year? Its more than likely that we'll see a demand for the Swissy that the S.N.B. cannot defend and we could well see a large appreciation in the CHF and a subsequent large decline in cross CHF pairs with the EURO looking particularly vulnerable. So how do we use this information? The likelihood of a sustained EUR rally against the CHF looks out of the question. There just isn't a scenario out there currently that could drive it. Short of the ECB announcing a surprise interest rate hike which isn't feasible this year the EUR is headed in one direction only against the CHF. Should Marine Le Pen even perform well in the up and coming French Election, let alone win it, the markets will be rocked and the EUR will come under enormous pressure. Selling the EUR against the CHF at current levels (1.0680) with a stop at 1.0735 (55 pip risk) could be an interesting trade.
Short
by theforexportal