There is a possibility of the uptrend. if so, traders can set orders based on Price Action and expect to reach short-term targets.
EURJPY is in a range bound and the beginning of uptrend is expected.
The price is above the 50 & 200 EMA.
The RSI near 50.
TP1= @ 123.595
Risk reward ratio = 1 : 1.23...
Okay, so what kind of situation is arising in GBPUSD...
From a weekly perspective, we can see head and shoulders formation. So, we may be looking to capitalize on short on this pair. But again after seeing price action in this region.
If everything goes perfect then we might take a short for the target of 1.21500 approx.
There might be a fake breakout towards...
The 4-hour right side is down with a bearish sequence against the 6/10/20 highs at 1.2823 . The 1 hour is turning up against 1.2249. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Short term trade setup
Long @ 1.2380-40
Good luck !
POUND AGAINST DOLLAR , shows the uptrend at starting of the week , Strong rise from the Support and 21 EMA may push the price up, looks like ready to break the 1.32 resistance line,will go up , mostly buyers participation expected in GBPUSD party
The British pound is holding onto the latest positive factors towards the buck as merchants await the Financial institution of England financial coverage resolution later right this moment. Additional bullish development above the 1.2530 degrees ought to provoke a take a look at the 1.2600 degrees. A lack of the 1.2425 help area is prone to see...
Buy (limit) above S1=1.2035.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.196.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196.
In this situation, there is an expectation to reach the...
The pair has formed a rising broadening wedge pattern on daily basis, where yesterday, the prices turned from the lower trendline of the pattern, rebounding from the crucial support of 1.20200, creating a double bottom. The prices can reach the level of 1.22860 with an intermediate target at 1.21606. On the other hand, initial support lies at the 1.20200 and then...
GBPUSD trading near to the imparttent support level on short term. As per wave count GBPUSD on more leg upside is possible WAVE 5 of c. FOR this count 1.2110 level act as invalidation level.
ENTRY & EXIT SIGNAL:
LONG @ 1.2180 -- SL 1.2110 -- TP -- 1.2330