morrisgitau

14:20

morrisgitau

Market outlook of GBPCHF, EURCHF, GBPNZD, GBPZAR and EURGBP

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The monthly timeframe indicative of the long-term trend shows a resilient and bullish US Dollar versus the Canadian Dollar. The target is the 1.54 price handle. This price handle is the supply that triggered the bearish momentum that created the low at 1-0.99 price handles. This bullish correction is caught in a consolidation between the demand and supply at 1.2...

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The monthly time frame which represents our long-term outlook indicates a bearish outlook. We are witnessing a return to an old supply in the region of 147 price handles. Currently, we are witnessing a bullish correction targeting the 147-149 price handles. Once these regions are mitigated, we expect the bearish slide to resume targeting 127-135 regions. How do we...

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The US30, also known as the Dow Jones Industrial Average, is a stock market index that measures the stock performance of 30 large, blue-chip companies trading on the New York Stock Exchange and NASDAQ. Inversely related to the US Dollar, they move in the opposite direction. A rise in the US 30 signals a decline of the US Dollar and vice versa. On the weekly time...

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The long term outlook on the monthly time frames shows a very strong US Dollar against the Mexican Peso (MXN). The Mexican Peso has strongly recovered against the Dollar since May 2020, this analysis is similar to the weakness of the Dollar against the South African Rand. The price levels have eventually returned to the demand zone at 17-18 price handle Naturally...

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Exotic currency pairs do possess a certain allure to experienced traders in terms of returns. The South African Rand (ZAR) has been battered lately due to macroeconomic data and political upheavals experienced lately. These geopolitical and economic risks are correctly priced into the market Using the smart money concepts, we are witnessing a return to a previous...

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Naturally, risk-averse individuals prefer cryptocurrencies, metals, and the Japanese Yen as safe-haven assets when the dollar is unstable. Recently the banking crisis in America and Europe has resulted in the decline of the US Dollar against major currency pairs. On the long-term monthly and weekly time frames, we have a strong bearish decline of Bitcoin against...

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Major currencies have rallied against the Swiss Franc towards the close of 2022. Early in the year, we saw the Swiss Franc(CHF) recover against major currency pairs where we say a bearish imprint against cross CHF pairs. The Euro has signs of weakening against the Franc, we a re looking at shorting opportunities at 1.008 targeting to exit at 0.968 How do we...

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On the lower timeframe we are anticipating the index to create new lows by breaching the 26000 levels then retrace before completing the bearish slide to the unmitigated demand sitting at 23000-24000 levels. By the same measure we will see the same pattern imprinting itself on cross Yen pairs. We intend to place our sell orders once we see a break of structure and...

morrisgitau Updated 

Greetings traders, Currently we have a completion of a bullish correction that has corrected the bearish imbalance created late last year and early this year. On the 4HR we have a CHOCH and BOS that confirms our bearish outlook. We are looking to enter the market at 145.01 and exit at 136.76, a 9.8RR.

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On the monthly timeframe, we have a CHOCH. The long term trend before the break was bullish. Currently we are awaiting bullish correction targeting the upside. On the Daily time frame we have a CHOCH that confirms our bullish outlook. We have our sell orders at 17.94130 and exit at 19.30045, a 10 RR.

morrisgitau

Greetings traders, I have been monitoring this pair for a while now. My outlook is bearish. The pair had a strong bearish momentum sliding down to 155 region, this left an imbalance that had to be mitigated by a bullish correction. We are witnessing the closing stages of the bearish correction. On the 4HR we have a CHOCH and BOS targeting 158-154 region or even...

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Possible GBPNZD trade idea. We have a BOS on the 4HR and a CHOCH on the Daily timeframe, this confirms our bearish order flow. We are anticipating a bullish correction the a bearish continuation.

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Finally the pair has mitigated a previous unmitigated zone. The larger trend is bearish, on the 4HR we have a CHOCH and BOS. For confirmation we have a CHOCH on the Daily timeframe. We are anticipating a bullish correction where we will place our sell orders. Our target is the 19-20 region sitting at the bottom.

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We are registering long term bearish momentum against the pound. Looking at the GBPCHF we are seeing a demand zone already tested several times with lower highs forming. This indicates the possibility of the demand zone being broken as bears strongly get into the market. In the short run, we have a CHOCH and BOS indicating a bullish correction targeting the 1.14...

morrisgitau Updated 

The long term outlook remains bearish. In the short term we are seeing signs of a bullish correction targeting 18 levels. On the 4hr we have a CHOCH and BOS confirming the bullish correction.

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On the 4HR we have a CHOCH and BOS an indication of a short term bullish correction. On the long term we are bearish on GBPUSD, currently we have sell limit orders sitting in the OB (in green, 1.22 region)

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Thus far we are witnessing a resurgent dollar against commodity dollars since the turn of the new year. There are signs the dollar is still bullish against major currencies. In the interim we are expecting a bearish correction for the dollar (bullish correction for other currencies). In the coming days we are watching to see if NZDUSD will retrace back to the fair...