XAUUSD is giving some signals that the direction may change. The price held above the support area 1160 and oversold RSI started to point up. 2 hours before the daily close, candle formation is signaling a bullish reversal. This trade idea needs more confirmation to make it an active long trade.
GBPJPY corrective move is on the way. 1.4570 area resistance works on 4hr and the pair is headed south. MACD RSI both are in favor of a short position and the pair is printing strong bearish candles. We suggest to sell around 1.4370-1.44and target 1.4150 and 1.40 respectively.
EURGBP made a bounce from the support area yesterday and got our attention. The price held well above previous days lows and is on its way to form a hammer. further gains are expected and a move up to 0.87 is possible.
long awaited correction on the way? A top may be formed for now. RSI, MACD and smaller TF candles showing signs of reversal. Daily candle showing signs of bulls exhausting. JPY is weaker across the board. We are suggesting to sell around 113.50-113.70. First target 111.60. Second target 109.60
Considering what we had in mind for eurusd and following the first try eurusd long we had from friday and getting stopped the 4hr candlestick formation is suggesting a reversal and we for the 2nd and last time to suggest to buy eur from the 1.0630-1.0640 area.
Eurusd sticking with range for the past 10 days after a massive move to the downside. base might be formed for now and the MACD, RSI are encourging to take a long. Daily candles are also signaling there is some room for correction . This does not confirm the reversal for the overall downtrend. FX:EURUSD