Hoppfuly it will hit the 1.155 to complete the monthly grabber before a deeper pullback.
G/U seems to have some room to reach the 1.27-1.275 area, play a short from this area with the monthly bearish grabber in the back can to be good trade.
To sum up, a stronger dollar may be on its way.
Thanks Sive.
Didn’t the B&B hit the 3/8 last Friday at 1.122,( the 3/8 from 1.087-1.143). Yesterday it completed the 5/8 pullback as well. Since it didn’t manage to form a Daily bullish grabber last Friday I assumed it will returned to a new low after it pullback to the 5/8. Or I’m calculate...
Since we were not able to get a Daily Bullish SG at the beginning of the week I suspect there will be another leg down to complete the XOP on the 4Hr. Can be tricky 3 days to trade. FED decision, Month-end and NFP in combination with a new fresh month.
I would like a push to 1.1165 before the pullback. Then it is aligned with the 1.084x target as well. However, it is some tricky to keep postion over the weekend due to tomorrows vote in UK. A major GAP warning on Sunday night, especially in GBP/USD..
We are entering into a heavy resistance zone. It will be interesting to see if we will get another leg down to form a kind of double bottom to aim a higher bounce than 1.114. On Friday we will probably get the answer since we could get an SG on Weekly that might support this scenario.
Same...
Maybe we will get a sequence like the attached picture to the 1.114x target. (sorry for the non-fancy drawing)...
1.114x is a target that I guess will attract both bulls and bears since it is equivalent with 50% of the quartal 3 candle (1.137/1.0904). It will also be the norm in the 1.084...
That is the problem to play in current area, bearish into support. It can easily bounce +200pips from here.
London goes home with a lower close than Friday. 1.0996 for the reference. There is a great chance todays low will be tested within 24hr
Nothing bullish in my book. Bears in full control. This Quarter most likely will close lower than previous (1.1370), August Month closed lower(1.0999) than the previous month. Last week closed 1.1002 which was lower than the previous week close 1.1074. The only that prevents this to drop is the...
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