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Gold seems to be making bullish movement and after its correction it does not seem to stop, recently broke daily downtrend, although it still has not broken then
50 moving average on the daily, it does seem the bullish pressure is here to...
potential move for gn in tonights london session. great risk to reward and the trade makes sense to enter. keep 1-3 risk on your account and even a losing trade should not affect you whatsoever.
EURAUD - Parallel channel break down is expected in this now, sign of clear weakness.
My approach will be a Short sell position at current price 1.65300
Maintain Stop loss around 1.66000
Potential downside target 1.64200 - 1.63400
Follow the levels as mentioned.
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Why you...
if this zone is respected and trading below with rejections we can expect the price to push lower. if it breaks above and floats above then we will go higher. looking for shorts as of right now. great risk to reward.
I believe the EURUSD will resume its uptrend movement since price reached key support with an RSI almost above 45 which a good sign for a bullish uptrend.
Do your DD and look for your confirmation and join the long.
GOOD luck
EURJPY H4 - Little reaction from 125.400 support region, bounced 20 pips in quite quick succession, if support holds this may be something we look to buy. Not entirely sure of the EUR still, seemed to have lost a little ground since market open on Sunday, but not near as much as GBP pairs. If support holds a while on EURJPY and EURUSD (1.18 support) we could...
GBPJPY H1 - Off the back of the BOE members speeches earlier on today and comments from Barnier, GBP has been losing a bit of ground, simply looking for a clean break of support and subsequent retest so we can look to grab short orders inline with the reversed trend, again, if this unfolds, this will be something we look to personally trade and will look to signal.
USDCAD H4 - Would be nice to see a rejection from the current zone we are sitting on, we have ADP employment data figures coming up which is going to have an impact on the USD shortly, this will be catalyst for a breakout most likely. Eyes peeled.
GBPUSD H4 - Possible long position very similar to GBPJPY if this support zone holds, ties up quite nicely with DXY resistance too. Eyes peeled. DXY analysis to follow.
Now sitting on resistance, lets see what the eastern brings, if resistance holds and we see consolidation, this may be something we short tomorrow, EJ also on resistance after failing to set new highs.
GBPCHF H4 - Approaching/fighting that huge 2.00 handle. Also ties up nicely with our previous supply zone and resistance area, could be a good price to look to short from.
