GBPUSD and GBPJPY both consoildating clearly on the 1hr and we have clear support and resistance. Watch for breaks of these levels and try to enter on retest of the levels. Remember make sure the break out is good before you decide to enter. IMPORTANT: THE SUPREME COURT IN THE UK IS GIVING VERDICT ON[…]
USDCAD has again failed to close above 1.3350 level on the daily and yesterday posted a potential rejection candle. NOTE: We have BOC Interest rate decision today so this could fuel this trade or make it totally invalid. i.e could be the pullback for price to move higher. Will monitor price action closer to the[…]
Gold is in wait and see mode. You can see clear consolidation on the 1hr and its trading within a very tight range so expect a strong break. Trade tensions again have eased within China stating they want a solution to the Trade deadlock with the US. However with both parties still no nearer to[…]
GBPJPY has been consolidating and has formed this bearish pennant structure, set your alerts for breakouts above 127.50 but if trend continues a break of the TL and 127.00 will signal further selling. Wait for clear break on 1hr/4hr and take entries on retest.
Gold closed the week strongly closing above the weekly level I identified last week aroun 1486-1487 (see weekly chart below). If risk off sentiment continues we should continue to see flows into safe haven assets such as Gold and the next target insight is around 1530. You can see on the 1hr/4hr/Daily we are trading[…]
We have a strong rejection on the Daily/Weekly at 1.3350, I’m now looking for some retracement to the levels marked around 1.3240-50 or higher at 1.3270-80 for continued sells.
We were watching GBPUSD yesterday for sells below 1.2135 however price continues to trade within the range between 1.2190 and 1.2135, watching for a breakout in either direction.
GOLD has come into resistance/supply zone after hitting a high of 1491, lets drill down and see what’s happening on other timeframes and see how we can potentially look to trade it. You can see the resistance formed clearly on the 1hr/4hr. So how can we trade this ? Above is the 15mins chart where[…]
Have a look at my view on what we are seeing technically PRE FED rate decision tonight. Has the 0.25bp cut already been priced in ?
EUR pairs Pre-ECB rate decision at 12:45pm BST. Everything at Daily or 4hr support and holding going into the decision. Could we see some EUR recovery or will EUR continue to fall…? The ECB will announce their latest monetary policy decision and the markets will be listening as to whether they are going to start[…]