GBPUSD Outlook 2/12CPI this week on tuesday, this is a preliminary outlook. but I wont be trading till after CPI so this may not be relevant come NY session tuesday. However I am expecting dollar strength and therefore weakness in XXXUSD pairs.
Pound
GU two trades completeGU provided two decent trade opportunities recently.
first being the retracement to the 61fib of the previous move down. this also has another confluence as it rejected the recent broke support trend line.
The next solid move was taking a buy at the previous low made this is currently running 50 pips
dollar could be heading higher so GU could be taking a hit
GJI am now closing all my trades, they are in slight profit. I just do not like the way the market is moving and the volatility is too slow. So I would rather take my little profit than risk giving to the market, I also will be busy for a while so I do not want to leave un-monitored trades running.
GJ SELL IDEAAfter we broke structure (BOS), we have a potential to drive lower.
We created an OB (blue/grey zone) in Asia, which has to get filled.
Waiting for the price to come up to 161.700-161.855
TP 1 Asia Range (161.000)
TP 2 Asia Range (160.160)
What do you guys think about this idea?
Please like and comment what you think!
GJClosed half the trades because my goal for the day was reached, so I left the other half running and opened a few more when it retested. I'm going to add just 2 more this morning once the W formation is complete.
Gbpaudhere is my analysis about this chart,
i think a weekly support breakout and price did pullback . so i just enter here with 2 RR . which is my stop 110 pip.
so a little lot size for this trade.
like and comment bellow
follow for more analysis
GJThis is where I'm seeing GJ head to. Yet I'm not entering yet, I'm going to wait for an impulsive bullish candle. The trend has been bullish, so this is a retracement and we enter continuation.
MarketBreakdown | Dollar Index, GBPUSD, USDCAD, EURNZD
Hey traders,
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💵
The market is consolidating within a narrow horizontal trading range.
Taking into consideration, that the index is very bullish from the beginning of February,
I believe that a bullish rally will continue.
Wait for a bullish breakout of the resistance of the range,
daily candle close above that will most likely trigger a bullish continuation.
2️⃣ GBPUSD daily time frame 🇬🇧🇺🇸
The pair was rejected heavily from a key daily structure resistance.
A rejection candle with a long wick was formed.
It indicates a strong bearish pressure.
I believe that the pair will most likely keep falling.
3️⃣ USDCAD daily time frame 🇺🇸🇨🇦
The market is trading within a wide horizontal trading range.
Its support was reached yesterday and the market was rejected from that.
Probabilities are high that a resistance of the range will be reached soon.
4️⃣ EURNZD daily time frame 🇪🇺🇳🇿
The price is forming a huge ascending triangle formation.
A bullish breakout of its resistance will initiate a strong bullish wave.
Wait for a daily candle close above the neckline as a confirmation.
Do you agree with my market breakdown?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
GJI don't even remember why I had set this but I'm seeing it now. We are still sharp and that shows with the direction, volatility and overall RR.
GJWe either wait for the break upwards and retest before entering, we are not going to enter prematurely or else we will pay for breaking rules. We could also see a break downwards so we will watch that and stay cognizant of todays fundamentals.
GBPCAD: Pullback Trade Explained 🇬🇧🇨🇦
GBPCAD is taking off from a key horizontal support.
The price has formed a bullish engulfing candle on 4h, approaching that structure.
A double bottom on an hourly time frame was formed.
I expect a pullback to: 1.618 / 1.622
❤️Please, support my work with like, thank you!❤️
GBPCAD FINAL SUBWAVE OF THE FOURTH WAVEBased on the analysis above, the market is currently almost at the end of the final subwave of the fourth wave. The wave 4 contains three corrective waves (ABC) with subwaves formantion of 5-3-5 waves. As of now, expect the completion of the subwave 4 of the entire correction and its supposed to contain 3 corrective subwaves (ABC waves). After the bullish anticipation will follow. Stay Tuned for moore updates...
GBPJPY: This pair poised for a drop / BoJ Governor voteWe've seen recent strength from JPY in preparation for the announcement of a new Governor, with nominations expected in the next few days. The currency rose this past week when it was 'leaked' that Kazuo Ueda could become the next Governor, and this could lead to a change in monetary policy.
Anyone following me will note I'm weak on GBP and generally bullish on JPY in my ideas - I don't think BoE have room for hikes that can compete with other majors, BoJ do (and they seem to have managed their economy incredibly well post-pandemic).
BoJ certainly has room for manoeuvre, and I'm expecting strength from the yen this year. With inflation levels higher than target, interest rates low and potentially a new Governor that is no stranger to voting for monetary tightening when needed, the landscape is there for shorting the GBPJPY.
I think this pair is due a big drop, we may see the rise up to 164 to form a rising wedge, but my expectation is a fall before it reaches that point, and a big one at that.
GBPUSD analysisHi GBPUSD traders,
We think GBPUSD will be in correction in the coming days (scenario 2) ... then we will buy it ...
Contact us for more informations or analysis or recommendations...
Team @TradeItDB
Good luck
EURGBP - I'm seeing nothing but a continuation to the upsideEuro Pound has been super messy of late, but after last week's respective Central Bank news and immediate future stance, I think it'll be a clean bullish continuation from here.
ECB hiked rates by 0.50% last week and said there will likely be the same next time out.
BoE also hiked by 0.50% but were much more dovish in their statement. I think it's pretty clear (if you live in the UK) that our economy is under enough pressure (cost of living, output, retail sales, you name it) without another 0.50% hike, I just don't think the BoE would / could do it (regardless of inflation).
Current price is above all of my MA's, I think we'll see a continuation close to testing last September highs in the coming week or so.
GBPUSD, Weekly analysis Feb 6-10, 2023The pound against the Dollar faced a bearish momentum last week, a price zone of 1.24 again proved a strong resistance for this pair and
sent down the price s from 1.24 to 1.20 last week,
Here is also the same reason we are seeing the weekend Pound and strong dollar behind the last week's sellers
The day chart displays a breakout trade during the last week out of the Rising wedge,
this Friday's breakout move may look forward to retouching the breakout zone of the 1.23 price mark this week, before making a further downward move
GBP's Monetary policy and GDP reports are awaiting on February 2nd week respectively on Thursday and Friday
these reports may play a role in strengthening the pound, We have to wait for the reports this week
GBPUSDHello traders ,what do you think about GBPUSD? This pair has recently broken an important support. We expect it to drop to the specified zone after the pullback to the broken level.
If this post was useful to you, do not forget to like and comment.❤️
UJJust like that we were going to be out, but the US30 trade would have kept us afloat. We stay watching and waiting, close your laptops and enjoy your weekend. Monday is another day and this week if we calculate we should be up roughly 5% which is better than negative and higher than the 3% goal we were aiming for.
UJMy SL was hit because I moved it into profit. Yet even if you held, you'd still be up. Today I don't think I am going to trade it is a Friday and it's an interesting day as it is the first Friday of a new month. Also companies have released their year end results many which were under par.
GBPJPYHello traders ,what do you think about GBPJPY ? After today's meeting of the BOE, the pound became very weak. We expect this weakness to continue, and on the other hand, we expect the yen to strengthen, so we are looking to sell this currency pair.
If this post was useful to you, do not forget to like and comment.❤️
GJI LAUGH AT THIS🤣🤣🤣🤣🤣🤣 It went straight for our SL before going to hit TP. So there's still some sharpening we need to do. Yet it is not a deterent.
GJStill running in profit, but because my goal was reached already and I'm not stingy. I just put the forecast and let it run, but the second forecast has my added trades idea. So it's running further
