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Younghungrywolf

After taking EUR/USD's neck, we're coming for its legs too!After a beautiful buy on the neckline break last week EUR/USD has developed downside momentum, it has broken the supporting bullish trendline and doesn't look like it will slow down. We consider 1.1580-1.1587 area as a sell zone for the continuation downside. Area confluences with bearish trendline and 61.8% retracement from the previous push down. We should be in and out on this one as the NFP is coming up by the end of the week.
Short
by FXAN
GBP/USD in no man's land. Roadmap for the following week!Here is our roadmap for starting another trading week strong. So, after hitting our first profit target on the buy last Thursday, GBP/USD has failed to develop stronger bullish momentum and finished the week in no man's land. We have set the consolidation box for the pair with bottom around 1.28000 and the top around 1.28800 price level where the price should decide about the further direction. For now we have short-term bearish momentum with highs connected to the Bearish trendline and longer term bullish momentum with lows connected to the Bullish Trendline. Any touch or break of these trendlines can give us a nice opportunity to trade so keep an eye on that, and of course wait for the price action confluence before entering the Trade. For now we are favoring shorts on this pair and further development of downside movement but nothing is confirmed at this point. Wish you a happy trading week! #wolfpack
by FXAN
GBPUSD picking up, catching the pullback!Well well, thats quite a jump in one hour don't you think? USD data came out today without any huge surprises, and now we are seeing cable jumping up. Is this the start of the bullish momentum? I still belive to see 1.2670 price before it but on the other hand It could be bulls takeover, but it's not happening without the pullback, and that's where we come to play. We see the zone from 1.2752-1.2770 very attracive for shorts. Tomorrow there's another high impact data coming out for the dollar (Michigan Consumer Sentiment Index) which will probably be the fuel for the movement. We need to see right reversal price action in our sell zone and we should be fine to reach our profits! Happy pip hunting everyone!
Short
by FXAN