Britishpound
GBPNZD testing 1D MA200. Buy opportunity if it holds.GBPNZD is testing the 1D MA200 (orange trend-line) today after an almost 1 month correction since the February 03 High. That High was a Higher High on a +1 year series of Higher Highs. The last time we saw such an aggressive correction on a Higher Highs pattern to the 1D MA200, was in October - December 2019.
During that sequence, the pair did test the 1D MA200, which also happened to be on the 0.5 Fibonacci retracement level (same as today), and as it held, it gave way to a new rally towards the 1.236 Fib extension.
As a result, we should keep an eye on the daily candle closings for a rebound on the 1D MA200. If it holds, I expect a Higher High near 2.0800 this time. This pattern may be invalidated if we get a weekly close below the 1D MA200, in which case we can expect a new test on the Higher Lows trend-line from 2018.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
GBPUSD 27.02.2022Looking to short GU from 1.35000 zone
Confluences:
- GU was ranging without any signs of momentum. Last week, a breakout of the range occurred after a massive push to the downside
- Broke below 1.35000 support region without retest.
- Retest level (1.35000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels.
A potential push to higher fib extensions may occur, will look for signs of rejections once market reaches the sell zone
GBPJPY 27.02.2022Looking to short GJ from 155.500
Confluences:
- Bearish market structure as LLs and LHs are being printed.
- Broke below 155.500 support region without retest.
- Retest level (155.500) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels.
A potential push to higher fib extensions may occur, will look for signs of rejections once market reaches the sell zone
GBP/NZD Double Top in Play as RBNZ Hikes RatesThe New Zealand Dollar gained after the RBNZ raised interest rates to 1% form 0.75% in February.
On the 4-hour chart, GBP/NZD confirmed a close under a bearish Double Top I have been closely following since last week: www.dailyfx.com
This may hint at reversing the uptrend from November, with immediate support as the 38.2% Fibonacci retracement at 1.9890.
Other levels below include 50%, 61.8% and 78.6% at 1.9691, 1.9492 and 1.9208 respectively.
Overturning the bearish projection entails a confirmatory close above the 2.0487 - 2.0535 resistance zone.
FX_IDC:GBPNZD
EURGBP will correctThe price broke through the upper boundary of the channel at the moment of local oversold.
I expect that the price will reach the resistance level.
Breakout of the trend linePrice is moving in the range of the downtrend line and the lower boundary of the liquidity zone.
Locally, the price is oversold and close to a strong support level.
I expect a breakout of the trend line and a retest of the upper boundary of the liquidity zone.
An unsuccessful attempt to break out of the channelThe price broke through two support levels and returned to the downward channel.
I think we are moving to the next support level.
The pound at the beginning of the downward movementThe price formed a bearish candlestick absorption pattern and then broke the uptrend line and the support line.
I think that from the current price we can test the support level indicated on the chart.
GBPUSD should go together with EURUSDThe price has formed a candlestick pattern of an inverted hammer and proof of that like on EURUSD chart.
Stochastic RSI 1H is overbought.
I think we can form a reversal signal on the TD Sequential.
The price quickly reached a resistance level and is near a strong liquidity zone, so I don't think the correction will be strong.
I expect that the price can retest the upper boundary of the liquidity zone and grow to the resistance level .
GBPSEK Target Price 13.21115GBPSEK price closed above 12.69163. Price retested 12.69163. Enter long positions and take profit at 13.21115.
GBPCAD Target Price 1.75604Price closed above 1.72806. Price retested level 1.72806. Enter long positions and take profit target at 1.75604.
GBP / USD Good evening from The Netherlands..
Today we have GBP / USD..
Beautiful example of a Trading range..
Strategy Trading range. Buy low, sell high..
Look for description..
When you take a trade with less risk it means it comes with less probability.
When you take a trade with high probability it means it comes with more risk (wider stop loss)
Double topThe price has formed a double top pattern, so we can reach the Fibonacci level of 0.5 as indicated on the chart.
Liquidity Zone - Opportunity ZoneThe price is moving in a downward channel.
We have a strong liquidity zone under the support level.
I expect price to bounce off from the lower boundary of liquidity zone.
Bullish takeoverThe price is moving in an upward channel.
The price formed a bullish takeover on the 1H timeframe.
I expect the price to reach the resistance level.
GBPCHF in a triangle GBPCHF is moving inside a triangle and price has got stuck between FTC Level and an uptrend. Breaking the trendline will be followed by a correction.
Continued movementThe price is at the lower boundary of the uptrend channel, near the support level.
I expect growth to the nearest resistance level.
EURGBP bullish takeoverThe price went up very quickly after the bullish absorption, so I expect a small correction, and then the growth to the level of 0.83615.
Fan punchingThe price has broken through 2 fan lines, holds the support level and the uptrend line.
Two bullish candlestick patterns emerged.
I expect growth up to the level of $1.3692.
Breaking through the descending channelThe price has broken through the upper boundary of the ascending channel.
Stochastic RSI is locally oversold.
I expect a small correction of the current momentum and then growth to the target indicated on the chart.
GBPUSD rising wedgeThe price has formed an ascending wedge pattern.
The movement broke through and consolidated above the support level.
I expect that the price will reach the level of $1.3655
Buyers weakenedThe price movement is sandwiched between two lines.
The price made 3 false penetration of the downtrend line, formed 2 ascending triangles, from which it went down.
I expect a further decline to these levels.
