Get started

Forex market

GBPJPY (down trend) (waiting for perfect selling area)(mid term)Go through the analysis carefully, and do trade accordingly. Anup Bias (Mid term) Current price- 199.500 prefect selling zone- 201.500- 202.500 (we have to wait for the price to reach here) "if Price stay below 205.500 then next target is 195.000 and 185.000 -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk 2% of principal to follow any position. Support us by liking and sharing the post.
Short
by AnupZiddi
2
GBPJPY MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
GBPUSDGBP/USD 1-Hour Analysis: Bearish Continuation with Retest Strategy Chart Overview: This GBP/USD 1-hour chart analysis indicates a bearish continuation pattern with a potential retest strategy. The analysis identifies significant support and resistance zones, highlighting key price action levels and potential price movements. Key Points: Trend Analysis: The chart shows a consistent bearish trend with a series of lower highs (LH) and lower lows (LL). The recent price action indicates a break below a key support level, suggesting further bearish momentum. Support and Resistance Levels: Support: The next key support level to watch is around 1.2830. Resistance: The broken support zone around 1.2900 is now acting as resistance (gray zone). Bearish Continuation Signal: The price has broken below the critical support level around 1.2900, indicating strong bearish sentiment. A potential retest of the broken support level, now acting as resistance, is expected before the bearish move continues. Potential Price Path: The analysis suggests a retest towards the new resistance zone around 1.2900, followed by a bearish continuation towards the next support level around 1.2830. The projected price path is indicated by the downward arrow, illustrating the expected move after the retest. Market Sentiment: The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows. Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend. Trading Plan: Look for selling opportunities on pullbacks towards the resistance zone around 1.2900. Consider placing stop-losses just above the resistance level to manage risk. Target the support level around 1.2830 for potential take-profits. This analysis suggests a potential bearish continuation for GBP/USD, with selling opportunities on pullbacks towards the resistance zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
Short
by harshkjogadia
EURUSDEUR/USD 4-Hour Analysis: Bearish Continuation with Retest Strategy Chart Overview: This EUR/USD 4-hour chart analysis highlights a bearish continuation pattern with a potential retest strategy. The analysis marks critical support and resistance zones, along with key price action areas, indicating potential price movements. Key Points: Trend Analysis: The chart shows a recent bearish trend continuation after a significant drop from the previous highs. The price has broken below a key support level, which has now turned into resistance. Support and Resistance Levels: Support: The next key support level to watch is around 1.0780. Resistance: The broken support zone around 1.0870 is now acting as resistance (gray zone). Bearish Continuation Signal: The price has broken below the critical support level around 1.0870, indicating a strong bearish momentum. The current price action suggests a potential retest of the broken support level, now acting as resistance, before continuing the bearish move. Potential Price Path: The analysis suggests a retest towards the new resistance zone around 1.0870, followed by a bearish continuation towards the next support level around 1.0780. The projected price path is indicated by the downward arrow, showing the expected move after the retest. Market Sentiment: The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows. Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend. Trading Plan: Look for selling opportunities on pullbacks towards the resistance zone around 1.0870. Consider placing stop-losses just above the resistance level to manage risk. Target the support level around 1.0780 for potential take-profits. This analysis suggests a potential bearish continuation for EUR/USD, with selling opportunities on pullbacks towards the resistance zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
Short
by harshkjogadia
USDCAD renews 13-week high ahead of BoC, US PMIUSDCAD rises for the sixth consecutive day while extending the early-week breakout of a downward-sloping resistance line from mid-April, now immediate support, as traders await the Bank of Canada (BoC) Interest Rate Decision. Apart from the trend line breakout and dovish expectations from the BoC, hopes of witnessing upbeat US S&P Global PMI for July and softer prices of Canada’s key export, namely Crude Oil, also propel the Loonie pair. However, the RSI (14) line approaches the overbought territory, which in turn highlights an 8.5-month-old descending trend line resistance surrounding 1.3815 as the key upside barrier for the bulls. Even if the quote manages to remain firmer past 1.3815, the yearly high of near 1.3845 and the early November 2023 swing top surrounding 1.3855 will act as additional hurdles for buyers before directing them toward the 2023 high of 1.3900 and then to the 1.4000 psychological magnet. Meanwhile, a hawkish surprise from the BoC and/or downbeat US data and strong crude oil prices might drag the USDCAD pair back toward the resistance-turned-support line surrounding 1.3750. It should be observed, however, that a convergence of the 50 and 21 SMAs, near 1.3685-80 by the press time, appears a tough nut to crack for the Loonie pair bears. In a case where the quote remains weak past 1.3680, the 61.8% Fibonacci ratio of the November-December 2023 downturn, around 1.3625, will precede the 200-SMA level of 1.3598 to act as the final defense of the bull before giving total control the sellers. Overall, the USDCAD is likely to extend the latest run-up toward the key upside hurdle. However, the quote’s rush to refresh the yearly peak needs some time and/or a strong catalyst.
by MTradingGlobal