Sustained move over 1.1188 will signal the presence of buyers. This could trigger a rally into a resistance area at 1.1208. Happy Currency Trading
Wednesday, 31 May 2017
Friday, 19 May 2017
Currency Trading - GBP/USD - Pound to Dollar
The British pound surged higher after retail sales came out much stronger than anticipated. This is a market that I’ve been talking about for some time, and I recognize that the 1.30 level has a certain amount of psychological significance. The fact that we broke above there is a bullish sign, so having said that I think that the market will continue to go higher over the longer term, although it could be a bit messy in this general vicinity. Happy Currency Trading
Monday, 8 May 2017
Friday, 5 May 2017
Currency Trader - EUR/USD Technical Analysis
EUR/US sustained move under 1.0987 will signal the presence of sellers. This could drive the EUR/USD back into the major Fibonacci level at 1.0932, followed by an up trending angle at 1.0881.
Watch the price action and read the order flow at 1.0881 if tested. We could see a technical up bounce on the first test of this angle, but if it fails then look for the selling to possibly extend into 1.0819 and 1.0796.
Watch the price action and read the order flow at 1.0987. Trader reaction to this angle will set the tone for the day. Happy Currency Trader
Monday, 1 May 2017
Currency Trader - EUR/USD Mid-Session Technical Analysis
Based on the current price EUR/US at 1.0901, the direction of the EUR/USD is likely to be determined by trader reaction to the Fib level at 1.0932.
Sustained move under 1.0932 will signal the presence of sellers. If volatility picks up then look for a move back into the major 50% level at 1.0819, followed by the uptrending angle at 1.0801. Overtaking and sustaining a move over 1.0932 will signal the presence of buyers. The first target is last week’s high at 1.0950, followed by a resistance cluster at 1.0996 to 1.1001. Look for selling pressure on the initial test of the price cluster.
The angle at 1.1001 is also the trigger point for an acceleration to the upside. Happy Currency Trading
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