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I’m not optimistic for the cable…I do not think the cable can hold its position for much longer. I’m expecting a lot of choppiness whilst the cost of living crunch is in focus and inflation is such a focal point. With an expected “EU Law Bonfire” and the Northern Ireland debacle, I don’t see any positivity anytime soon. I appreciate you reading and please, help me increase my reputation so I can talk with you all. This is an incredibly messy chart that has some merit, but a clean chart is always preferable. The candles always speak louder than any indicator.
by Letsskim
2
USDCHF 1DSummary: Fed officials are succeeding in calming the situation The pair broke below important support Swiss franc hits 3M highs Recommendation: Trade: Short USDCHF behind the market Take profit 1: 0.8908 Take profit 2: 0.8777 Stop loss: 0.9107 Justification: USDCHF fell below the 0.90 level, where it has not been since the end of February. It looks like the Fed officials have managed to calm the market down again regarding the fears of inflation growth and monetary policy tightening. This has led to a sell-off in the USD. The latest data from Switzerland showed that domestic factory activity rose to a new record in April and CPI hit a 15 month high. From a technical perspective, USDCHF broke below major support at 0.90. There is a 23.6 Fibo retracement of the decline starting in March 2020. The overall outlook remains bearish if price holds below this support. We place the stop loss at 0.9107. Source: xStation5
Short
by PipFor
EURAUD 1DSummary: EURAUD traded in a rising triangle formation The pair broke above the upper limit of the formation today Recommendation Trade: Long EURAUD for the market Take Profit: 1.6017 Stop loss: 1.5400 Justification: EURAUD has been trading in a triangle formation since late Feb 2021. Today's break above the upper limit in the 1.5630 area signals that we could be in for a bigger move. A potential range target points to a price zone above 1.6017 EURAUD, which acted as short-term support in December 2020. We recommend a long EURAUD position behind the market with a target level of 1.6017. We place a stop loss below the recent lows.
Long
by PipFor
1
DE30 15MSummary: Short-term sentiment remains bullish DE30 has bounced off the lower boundary of the 1:1 structure The downward correction has stalled at a moving average with a period of 100 Recommendation: Trade: Long position on DE30 at market price Take profit 1: 15 465 Take profit 2: 15 515 Stop loss: 15 305 Justification: DE30 started the new week with an upward move, but the buyers failed to hold the direction and a downward correction started. However, looking at the M15 interval, the downward movement stopped at a key short-term support. The green area on the chart below is marked by the lower boundary of the 1:1 structure, the previous price reaction and the 100-period moving average. As long as price is above support at 15,367 points, the base case scenario appears to be a continuation of the move higher. We recommend entering a long position on DE30 at the market price with two targets: 15,465 and 15,515. We also recommend placing a stop loss order at 15 305. Source: xStation5
DLong
by PipFor
Possible Long on GBPUSDThe price has recently been in a downtrend is heading close to the 1.378 Fibonacci support. I believe this could be a good opportunity for a long. The take profit could be placed on the next Fibonacci resistance which on my chart corresponds to the 1.37975 area or on the next resistance level which is 1.3808. The stop loss could be placed under the Fibonacci support which should be two times lower than the reward, for me it will be at 1.376. FX:GBPUSD
Long
by dreamer0210