price at a resistance area and also at that key 61.8 fib level price is at the highest since feb so I think we could see some selling pressure.
caught this one from a fake out and entered short, price seems to be respecting the downward trendline, TP set at channel support & previous area of interest.
GBP/USD has edged lower the past week, part of the pairs recent decline has been due to dollar strength. Price has just met the 200 moving average to continue this uptrend. Client sentiment also shows a shift of retail traders moving their bias net long for the pair. One week volatility is also expected to increase with Brexit vote being placed Tuesday.
AUD/NZD has been in a solid downtrend for quite some time now. We can see a potential 123abc pattern forming in which we could see some buying pressure accumulate.
Price has recently broken out of its descending trend line and major psychological handle at 1.32 which is also above the top weekly ATR, price then went and retested the area potentially turning it now to a new support. We could be about to see the third leg of a ABC pattern formed after price strongly advanced upwards from the 61.8 fib area on the recent swing...
Sterling has been a really tricky asset to trade recently, lets see if we have spotted this one right.
price is at the support of this ascending channel, looking for price to continue this trend.
We've recently some good news coming from the U.K but how long will it last? it could be a good opportunity to sell now as the trendline appears to be holding.
Price is currently at the bottom half of the ascending channel support.
We expect price to maintain this downward movement.
Support now turned to resistance entering the 61.8 fib level.
waiting for a pullback to go short on gold after breakout out of the triangle formation.
Price is at 61.8 fib level and resistance level. Vote of confidence taking places today at 19:00 GMT could be a catalyst for some downside movement.
We are pivoting at a key price zone, we will be waiting to see where price is heading to enter into positions either short or long.
Day trade idea on USDJPY we saw a false breakout from the descending channel, expecting some further downside.
we're expecting for price to rebound from this resistance area. Breakthrough's in China-America talks can change market sentiment to risk on taking money out of this safe haven.
Comment what you think. Will a tough Brexit weaken the UK economy? What would be the affects on EURGBP during a global recession now that the UK is out of the eurozone bloc?
Waiting for price confirmation to determine whether we are going to go long or short. If price breaks out from this descending channel we will be looking for a retest and then go long alternatively if this channel holds we can expect to see a retest of the lower levels made earlier in the week.