After a great rally, WISH is pulling back to 50-61 Fib levels and forming an inverted HSH at those levels! RSI is nearly oversold.
We should some rejection from this level.
One more leg to the dowsinde is expected after strong moment to the dowside and strong daily candle close.
'' May to be told to quit by top Conservative - Sunday Times '' Pound is consolidating below 1.3000 also uncertainty in Brexit should send pound lower.
Euro will be lifted by UK better then expected Retail sales data, it's a good opportunity to re-enter short positions.
I was always selling eurgbp on rallies and i expecting to see this pair lower.
I'm still expecting eurusd go higher, as i see gold and gbpusd higher too. so i think we eur should get a lift on any case.
USDJPY formed one inverted SHS at the bottom of the triangle line and broke it's neck also we have a bigger SHS at our buying spot where I'm expecting some bounce to move higher.
- Buying zone 1.32359 - 1.32100 - Target 1st 1.33200; 2nd 1.33600; 3rd 1.34200; (3rd) extended 1.34580 - SL 1.317000 - 1.31800
We can see rejection from buying zone as we have at this zone 50% fib level, EMA, psychological round number, trend line, weekly PP.
I'm expecting one more push on pond. As you can see Assian market already pushing pound higher before Europe session, so im expecting a quick pull bakc to the buying zones and continuation higher.
Gold might see selling pressure, it might pull back to the first zone and retrace or if it will break below it can go to retest previous bottom and if will see consuladation at the botom we migh see new lower low.
If Euro will fail to break 1.1300 we migh see the end of this correction. Break back below 1.1283 with momentum would be a signal for a next target to the Weekly PP at 1.12625. Break above 1.1300 would aim for 1.13380.
USDJPY trying to break triangle to the upside at the moment price is flirting with upper triangle line and weekly and daily PP. From this point if price will not come back lower, wait for 1h strong candle close and trade PB or a patter like bull flag.
EURgpbroke very strong support zone on the weekly chart and now heading to re test it, we expecting to see new sellers at our selling zone
EURUSD approaching very strong resistance zone, we migh see some seeling pressure at the left shoulder.
EUR/GBP formed inverted SHS pattern. Wait for a break out and take a trade on a PB at the neck line. on the other side also wait for a break out, close below and trade a PB.
Nicly bounced yesterday from the weekly supprt zone and close strongly on the top and now approaching 50%-61.8% fib retracment levels which could be new buying spots.