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UNMISSABLE GBPCAD OPPOURTUNITY 04.04.20OANDA:GBPCAD
- The ascending wedge pattern in itself has a downward breakout bias
- Overall downtrend
- Exhaustion phase
- Expected continuation phase
- Price failed to hold above the downward trend line, making many attempts to the upside which lead to eventual and expected failure
- Overall, bears have now broke back below the trend line and are testing it
- Once price-action confirmation is provided, a downward continuation is probable
Keep an eye out, and remember to use good risk management!
- TheFXAngel
𝗟𝗶𝗸𝗲𝗱 𝘁𝗵𝗲 𝗶𝗱𝗲𝗮? 𝗙𝗼𝗹𝗹𝗼𝘄 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲!
EURUSD Trading Strategy for the Fed Monetary Policy Jan 2020EURUSD setup is fairly simple. There may be early indications for USD weakness prior to the Fed monetary policy. Based on the daily chart the price is expected to target 1.1044. The lower support may be re-tested (around 1.0980) when the monetary policy is released but is expected to hold.
The analysis is intentionally kept short and simple.