After hitting all time low, 1.035, in the last 50 odd years, the pair bounced back. It has since been making big correction in the last 2.5 years. I think the correction is nearly done. Today's NFP can be the catalyst to the last leg of that correction before continuing upward.
After current correction, I am biased towards upside.
Flag formation could be complete; I biased towards long. Will it work out? Lets see!
Based on recent bullish wave, and the following correction, I am going long till next resistance. #correction #waveanalysis
Looking for a quick long position because of a potential break-out from a trend line.
I am going long from current. My idea is based on tendency of market to progress in the form of wave-correction-wave.
Rejection from a major resistance level. Highly likely that it will retest previous support.
Another very good set up on EURUSD, with a potential of about 15 pips. After the current strong candle on1 hour frame, I expect it to test upper limit within the down channel again.
Trade is based on the simple idea of support and resistance!
I believe the GBPUSD is at the end of big correction on hourly charts. The trade is worth taking with a SL of about 50 pips from current price level.
I am looking for continuation of recent strong bearish movement on 1H, after the conclusion of the current struggle between bears and bulls.
I am lookin to catch some pips as a result of continuation of current impulse.
looking to take pips out of the completion of current correction and possible next wave
I can see 200 pips in north direction on short time frame(4H and 1H). On weekly and monthly, it is currently setup to go all the way to 1.859