Eleazarahmath

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.

Eleazarahmath Updated 

We see price is currently testing resistance level 1.6650 we look to take profits at 1.646 as the first TP , next one is 1.629, near 300 pips in total

Eleazarahmath Updated 

Let's see if price can break below and find support below.

Eleazarahmath Updated 

Although the bears are in control I believe a turnaround is possible based on the weakness of the Canadian dollar this trade could be affected by economic data.

Eleazarahmath Updated 

Fundamentally speaking the Canadian economy is very weak right now, I expect the bearish momentum to continue trade is expected to reach the target by next week, stay alert,

Eleazarahmath Updated 

I will add more details on this trade later as I update it trade is active now. Understand this trade is subject to change based on major economic news.