I am dedicating this thread to sharing my analysis on gbpusd, eurusd and gbpjpy.. it has proven very effective and has about 70% rating in terms of accuracy.
We witnessed a nice drop in gbpusd last week and it is already around a support area
And about to hit bullish trend on the daily chart….. we can expect two things to happen… price bouncing of that bullish trend line or breaking out of that bullish trend line
In the light of this..
I will short if I see price take out fib and trendline support around 1.6379 and expect price to move down to 1.6224
If price bounces of the trendline and violating 1.6520 to the upside I will consider buying gbpusd and my first target would be 1.6535
I cant give a good entry point for buy on gbpusd now
Eurusd
Eurusd has a strong sell formation but if u notice from my charts eurusd has hit that very support line severally and it bounces off it , one need to be really careful
This are my recommendation if u see eur usd take out support around 1.4799 consider shorting eurusd down till 1.4736…. stoploss should be placed around 1.4884
If prices bounces back and take out resistance around 1.4884.. I will consider going long on eur usd up till 1.5020 with resistance around 1.4945.. stoploss should be placed around 1.4800
GBPJPY
Gbpjpy is in a bullish mode.
If I see gbpjpy take out 149.05….that wast the high of lastweek Friday I will consider going long till about 151.74 with resistance at 150.21 and second resistance at 151.74
On the short side if isee price take out support around 147.87 I will consider shorting gj down to 146.23
We witnessed a nice drop in gbpusd last week and it is already around a support area
And about to hit bullish trend on the daily chart….. we can expect two things to happen… price bouncing of that bullish trend line or breaking out of that bullish trend line
In the light of this..
I will short if I see price take out fib and trendline support around 1.6379 and expect price to move down to 1.6224
If price bounces of the trendline and violating 1.6520 to the upside I will consider buying gbpusd and my first target would be 1.6535
I cant give a good entry point for buy on gbpusd now
Eurusd
Eurusd has a strong sell formation but if u notice from my charts eurusd has hit that very support line severally and it bounces off it , one need to be really careful
This are my recommendation if u see eur usd take out support around 1.4799 consider shorting eurusd down till 1.4736…. stoploss should be placed around 1.4884
If prices bounces back and take out resistance around 1.4884.. I will consider going long on eur usd up till 1.5020 with resistance around 1.4945.. stoploss should be placed around 1.4800
GBPJPY
Gbpjpy is in a bullish mode.
If I see gbpjpy take out 149.05….that wast the high of lastweek Friday I will consider going long till about 151.74 with resistance at 150.21 and second resistance at 151.74
On the short side if isee price take out support around 147.87 I will consider shorting gj down to 146.23