Eleazarahmath

Eleazarahmath

GBP/JPY is currently testing a key support level, where I anticipate a potential reversal. The stop-loss is placed at 193.35, strategically positioned just below the support zone to minimize risk. The take-profit target is set at the previous resistance area of 197.20, aligning with historical price action. This setup offers a favorable risk-to-reward ratio,...

Eleazarahmath Updated 

Price is currently testing resistance area, I'm expecting price to continue to the bearish momentum that started, stay alert for more updates.

Eleazarahmath Updated 

The recent increase in the UK's unemployment rate to 4.3% has raised concerns about the British economy's health. This uptick suggests potential economic challenges, which could weaken the British Pound (GBP). In the GBP/JPY currency pair, a weaker GBP against the Japanese Yen (JPY) may present a bearish trading opportunity. Traders might consider monitoring...

Eleazarahmath Updated 

We’re seeing Silver pushing up toward the 30.90 mark, which was a strong support level before. Now, given the bearish overall trend, this level is likely to act as resistance. If price gets close and sellers step in, there’s a good chance we’ll see a reversal back down from here. It’s worth watching for any clear signs of rejection at that area because it could...

Eleazarahmath Updated 

Donald Trump’s victory in the U.S. presidential election is adding new uncertainties for the Bank of Japan (BOJ). The yen's recent slide against the dollar has raised concerns that a further drop—potentially hitting a key 160 yen per dollar level—could prompt the BOJ to hike rates sooner than expected. Former BOJ executive Kazuo Momma suggests that rapid yen...

Eleazarahmath Updated 

Short GBP/JPY at 196.55, I'm anticipating a reversal from this previous support level, with a take-profit target at 194.70. Technical Overview: Previous Support as Resistance: The 196.55 level previously acted as support and is now expected to serve as resistance, a common technical pattern where broken support levels become resistance. Recent Price Action:...

Eleazarahmath Updated 

We see price is currently testing a support area on the 4h time frame, close this trade before the election next week.

Eleazarahmath

Why are we taking this sell even though the trend is bullish? "Bank of England rate-setter Megan Greene suggests that future rate cuts could boost consumer spending in the UK, potentially stimulating the economy. However, she remains cautious about rushing into a faster rate-cutting cycle due to uncertainties around how households will react. With inflation risks...

Eleazarahmath

Trend on the 4h and 1h is clearly bullish, if price can break through 0.9250 resistance that would give us a full confirmation for this pair, stay alert.

Eleazarahmath Updated 

We are targeting a sell entry at 163.3, as current sentiment indicators signal overbought conditions. This suggests a potential short-term reversal, making this an opportune moment to position for a downside move. I am also expecting EUR to cut rates this week.

Eleazarahmath Updated 

We're currently trading at oversold levels, indicating that a strong corrective move higher is expected.

Eleazarahmath Updated 

Price is currently testing a previous resistance right now I expect the bullish trend to continue, based on the possibility that the US might no longer cut rates.

Eleazarahmath Updated 

I expect the bullish trend to continue from this pair especially ahead of the NZD rates decision happening this week.

Eleazarahmath Updated 

I'm currently taking a sell on CADJPY as price approaches a strong resistance level around 108.6. Despite the recent bullish momentum, this level has previously acted as a barrier, and combined with a rising wedge pattern, it suggests potential exhaustion of the uptrend. If price fails to break and hold above this resistance, a bearish reversal could follow,...

Eleazarahmath

The price has continuously struggled to break the key resistance at 144.68, suggesting that unless this level is decisively breached, the bearish trend remains intact. Additionally, with a potential rate cut looming for the US dollar, further weakening is expected, adding downward pressure to this pair. All eyes are on whether the resistance holds or the bulls...

Eleazarahmath Updated 

Price is testing a previous resistance I'm expecting price is rebound from there and continue the bullish trend. This trade will be invalid based on surprising economic events.

Eleazarahmath

This position is subject to change based on economic data

Eleazarahmath Updated 

Right now both the Canadian dollar and the US dollar are weak , this is a short term trade.