As the US economy make gains and slight recoveries, I believe it's time to sell. I have my first target around the purple zone 1.26 as it also serves as a 0.618 Fibonacci retracement from previous swing high which got rejected from the Monthly resistance. If you like this idea, kindly give a like and feel free to comment and share your ideas below.
My thoughts on GBPJPY... if this resistance holds, I see price going down towards 133.35.
Here is my short term analysis for EURUSD - I believe we are heading towards the 1.121 region which could serve as a strong support, however, if this support level gets broken, we should be looking much further down towards 1.100 region. At the moment, price had just rejected off the 0.618 fibs resistance, looking to complete the right shoulder of the H & S...
If this purple zone remains unbroken and the white trend line broken upwards, I believe this should present us a good buying opportunity for about 50-80 pips on a short term.
This will be a beautiful head and shoulder pattern to play out.
Here is what I am looking at for my favorite forex pair GBPUSD; I believe we are at a key level where you can maximize your risk on either side, whether you get in for a BUY or SELL(depending on which direction it goes). Presently, my bias is a SELL but waiting for a few more confirmations and will be posting updates.
My thoughts on GBPUSD with possible zone to BUY or SELL. My bias is a BUY from the 'NEW SUPPORT' or from above the Purple Zone. I'll be watching price action and other confirmations before entry. Kindly like, comment and share your ideas too. Thanks.
Possible levels to open BUY position. I believe we are pulling back at the moment and should continue trend after.
My Forcast for GBPUSD on a relatively mid-term basis. My bias is a BUY towards next gold resistance zone. I'll include possible entries in comment section. let me know your thoughts on this idea.
My Projections for AUDJPY
My GBPUSD Projections on a 15 minutes TF. The Gold lines represent my Resistance and Support for the short term.
Although I am waiting for a few confirmations before getting into this SELL, my bias is that Price will drop to around $7,900 on a short term basis.
My thought on GBPUSD with possible target
I have a pending order for AUDJPY and my Bias is SHORT. I believe from currenct price action we should have a pullback from here, atleast towards 74.95 Support. If the white trendline gets broken and also the support around 75.5 zone, I'll feel stronger about the SELL, hence, SELL STOP.
I am targeting the $9,200 resistance which was the previous high point before pulling back I also believe that this resistance would be broken this time, and we should have another impulse movement towards $11,000.