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BluetonaFX - GBPUSD Descending Triangle SHORT IdeaHi Traders! GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low. Price Action 📊 The market has reached the four-month low, creating a descending triangle pattern on the chart. We are looking for further bearish momentum to break and close the trendline support line. Fundamental Analysis 📰 The market's outlook on GBP is currently negative due to weak economic data recently released. Traders will be looking for positive statements from the Monetary Policy Summary later today.   Support 📉 1.23081: 4 MONTH LOW Resistance 📈 1.24216: PREVIOUS DAY'S HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
BluetonaFX - EURGBP Ascending Triangle LONG IdeaHi Traders! There is an ascending triangle formation on EURGBP, and there is a possibility of a breakout to the upside. Price Action 📊 The market is in an ascending price channel with higher highs and higher lows since breaking above the 20 EMA, creating an ascending triangle pattern on the chart. We are looking for a resistance break and a close above the 0.87014 level. Fundamental Analysis 📰 The market's outlook on GBP is currently negative due to weak economic data recently released. The outlook on the GBP looks very negative at the moment, and the demand for the currency is very low, whereas the market's outlook on the EUR has been recently positive, with the ECB recently raising interest rates by 25 basis points to 4.00%.   Support 📉 0.86604: PREVIOUS DAY'S LOW Resistance 📈 0.87014: TWO-MONTH HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
2
EURUSD Support BreakoutOANDA:EURUSD WOOOOOOO! A N O T H E R idea. I should really charge for this (jk) EURUSD fresh outta support. Close to retesting prev support as resistance. 1: Strong impulse move through support (tick) 2: Exhaustion back up to prev support (tick) 3: Price action Re->bou=>nd Confirmation (WAITING) Remember, ONLY TRADE WITH SUFFICIENT CONFIRMATION. S T A L K the markets so hard that the cops get suspicious. Dont forget, trade safe, trade smart and d T R A D e like a C A S I N OOOOO babyyyyy!!!!!!!!!!!!!! >:)
Short
by TheFXAngel
2
EURJPY close to an decisive level! EURJPY extends its concerted test of key support from its June low and78.6% retracement of the Q1 2019 rally at 120.79/78, which continues to hold for now. Although daily MACD momentum has turned lower, only a decisive break below here would confirm the break of the medium-term uptrend from 2016 to see the completion of a large bearish "triangle" continuation pattern to turn the core trend lower again, with support then seen next at 120.29/23. Below and we see the "measured objective" of the top completed in May still set at 119.85. Resistance is seen at 121.28 initially, above which would instead set a minor base with resistance then at 121.50/54. Above here can see a move back to the 55-day average and price resistance, at 122.14/33, which we look to cap to maintain the "outside day" and bearish tone.
by Fx_Advisor
EURCHF Resumption of its core downtrend! EURCHF has seen a conclusive break of key support from its 1.1056/51 range lows to mark a resumption of its core downtrend, in line with our broader bearish stance following the completion of a large bearish continuation pattern in late June. We look for the trend to stay directly bearish with support seen next at 1.0989/84, but with the next meaningful support not seen until the "neckline to the base completed in July 2017 and the 61.8% retracement of the April 2015 and April 2018 rally at 1.0925/12.
Short
by Fx_Advisor
AUDUSD Powell will clear the path! AUD/USD-Maintains heavy tone in narrow Asian range • AUD/USD traded in a 0.6919/31 through the Asian morning • Weak Aus consumer confidence sent AUD/USD to a session low • Buyers ahead of 0.6915 underpinned and it settled 0.6925 into the afternoon • AUD/USD support at 61.8 of 0.6832/0.7048 move at 0.6914 • Resistance at the 21-day MA at 0.6949 and break ease downward pressure • Consolidation likely ahead of Powell testimony before the House later today • AUD/USD could break either way depending on Powell's tone
by Fx_Advisor
1
AUDUSD A close above the current July high at 0.7036....AUDUSD weakness has indeed proved to be corrective as suspected, with the market surging higher for a break above the .7036 high of Monday to negate the bearish “reversal day”, and we maintain our view we are on the cusp of seeing a base complete. A close above the June high at .7023 and then .7036 remains needed to confirm a base and an important turn higher with resistance seen at 0.7048 next, ahead of the May high and 61.8% retracement of the April/June fall at 0.7061/69, where we would expect to see fresh selling at first. Big picture, the “measured objective” of the potential base is set higher at .7246. Support is initially seen at 0.6989/82, where we expect renewed buying. Below though can see the setback extend further, with support seen next at.6959/52, where we would look for a fresh floor. A close above 0.7036 can confirm a base with resistance then at .7061/69. Support moves to .6989/82.
Long
by Fx_Advisor
1