Price has been in a downward trend for 2 years and is currently at the top of the descending channel we are looking for a retest to go short around the price of 0.90-0.91. Possible catalyst being the BOC Statement coming up this week. We will be keeping an eye closely to catch the next leg down on this downward play.
Here's my analysis for the pair, I think that the downward trend in the short term will continue and we will see a bullish rally - some of the catalysts: America-China trade tensions. Alternatively, if we break the longer term ascending trendline I think price will head down to previous support zones before bears run out of steam.
expecting swings from yearly low areas back to mid 145 levels. comment what you think
After recently bagging over 100 pips on this pair, we have a quick day trade opportunity with price currently at channel support we can expect some profit taking and a ride down to nearest support.
Lets see if this shorter term downward trend holds and see if price can continue to form lower highs and break the longer term uptrend.
Here you can see a break of a big ascending trendline starting from January 2017 which appeared to be holding strong but now that price has broken through we are seeing a retest of it - creating the possible scenario of further downside. Also, we have the UK's Brexit plan to be passed through parliament so expect large amounts of volatility.
Price has recently tested 144.000 a key area and the support of an ascending trendline. The pair hasn't yet showed any bullish momentum but if the Sterling does, we could be popping back up to the 149.000 area.
previously posted analysis, now is time to enter.
Price is in a downward trend, we recently saw price break through a key support area which bears are now defending at the retest, turning this to a resistance area. We expect some downside and Dollar strength as we approach US inflation data.
DXY in a clearly visible uptrend currently approaching the top of the channel. Price most recently has retested a support zone in which price has respected so we are expecting to retest tops - potentially forming a double top before opening the doors to selling pressure in which we could retest the support zone once again and also test channel support.
price is clearly in a down trend, we've previously broken a key support area now it has turned into resistance.
Bears are protecting this area and preventing an upside breakout.
Here are the two scenario's I think that will be happening on GBPUSD
Quick day trade on AUDUSD. It appears that price has found a minor support handle previously used as support, if it holds we can see some upside and perhaps opportunities for larger swings. comment what you think.
Price is in a downward trend, due to fundamentals we are trying to avoid exposure to Sterling but we shall take this trade with a tight SL.
Low risk-high reward swing trade setup. Comment what you think. Price has formed a double top, may see some downside to retest weekly lows.
Personally, if it wasn't for the problems with Italy causing investors to stay clear of the euro at the time being - I would be investing in the common currency. The Asian currency is offering very little to investors and I think we will be seeing a sell of the Yen up until the year finish. Price is currently at a key pivotal zone which we have highlighted to...