Gu
eu time for a breakoutits time for a breakout to the upside for euro vs dollar , with gu already leading this move and a super long dollar bullride that yet is begging for correction. I am expecting a break to the upside here.
eu tried and failed a break of its current trend three times past 2 months. We are seeing another attempt right now with eu trading at the upper resistance of its bigger trend. stay tuned.
this break, once confirmed, would also deliver us a new uptrend in eu.
GU Price Action for WC 1107 - Short upon LTF BoS confirmationMTF analysis are in the anchored notes for M,W,D,H4, AND H1
Annotations/ Notes and Markups are on the charts
KEY LEVEL = Tried & tested S&R zones
S/R zones are labeled as S/R zones
High Impact News / Potential price catalysts: (My time is GMT +8. Adjust according to your timezones)
TUE, 11/08/2022, (NO SPECIFIC TIME) - CONGRESSIONAL ELECTIONS (USD)
THUR, 11/10/2022, 9:30 PM - CPI NEWS (USD)
FRI, 11/11/2022 , 3:00 PM - NOV 2022 GDP STATS (GBP)
FRI, 11/11/2022 , 11:00 PM - NOV 2022 Prelim UoM Consumer Sentiment (USD)
Free Signal, Pass That Challenge GU - Buy 1.13100-200My analysis involves a blend of several concepts but they are all price action based.
This week I am expecting more bullish pressure. I am no longer a seller at this point and may
not be one for the next couple of seasons as we move into the election cycle, and I feel this
may bring a risk on environment as the US moves into it's election phase.
But for the meanwhile I am targeting these entries.
GBPUSD Sell (Short) OpportunityGBPUSD is at a good sell zone for a drop to the next support area.
GBP fundamentals are still very bad and the UK is now in a recession.
The dollar currency index appears to have reversed to the upside after a deep dollar retrace - this should fuel further dollar strength and GBPUSD should fall as a result.
GBPUSD Daily TF analysisGU looks to have made a skew double top on the daily time frame on a resistance zone, and on the EMA resistance, I still think that we will sell this pair as I said yesterday. They came to look for stop losses, but painted a better picture by doing so, confirming a strong resistance 1.13272. I am in a sell from 1.11972 from last night. So will see how the rest of the day plays out.