GBP/USD market structure, still confirms a bullish price action. We are now at the start of the third week of March whilst the market is still trading above its monthly and weekly pivot point of 1.38587 and 1.38819 On the daily time frame market makers have corrected price to our primary trend and key levelRead More
Last week GBP/USD was riding its pull back to the 61.8% fib retracement. This week GBP/USD seems to be respecting our primary trend in its bullish direction. From the 4h prospective the market makers has pushed price to and above its weekly pivot point and possibly heading towards current monthly open levels of 1.4000
EUR/USD weekly time frame still in a strong bullish trend. The markets have pulled price into it’s 50% correction. Moving down to the daily time frame, we can see the rejection of our 50% key levels and a brake higher, ending the last day of the previous week price action as an engulf candle, nowRead More
USD/ JPY weekly price action has been in a little contraction phase in a weekly area of demand. As the first week of the year ends the pair found support at the 102.874 level and engulfed the previous week bullish. This is usually a good sign for reversals. We have a broken daily supply zoneRead More
On the weekly time frame, price seem to respect its previous high. We could experience a pullback or consolidation, below the resistance level for a continuation. H4 time frame has formed a double top formation which could fuel the reversal. 30min time frame seems to be in a correction after the move. We want toRead More
Currently on the H4 time frame we have a double top and diagonal formation. Potential for a SELL OPPORTUNITY. Break out of the diagonal already seen. Watch for price action. Results are never significant.
First off, the pair has revisited its 3 times weekly highs around 1.3450 and has been struggling around that zone with lots of pull backs, better seen from lower time frames (1H/H4). Also the ongoing BREXIT uncertainties have caused the pair to maintain its perch close to 1.3500 / 3600. EU officials on the other hand suggest that a deal isRead More
GBP/JPY has started the week with a double top which was formed on the daily timeframe and has broken through the trend line. Now waiting for a break through support for a bearish move.