GBP/USD Looking ahead, a relatively quiet economic calendar is headlined by UK Construction PMI figures. Broadly speaking, UK economic news-flow has improved relative to consensus forecasts over the past two months, opening the door for an upside surprise. Such a result may help encourage a recovery from the British Pound after … More Watching for weakness , buying correction..
On the 4-hour chart below, we can see near-term support off of the 186-region. Traders can look to place stops below the 38.2% Fibonacci retracement of this most recent move around 185.50, with top-side targets at 186.38 (the 61.8% retracement of that same move), 186.87 (the 76.4% retracement), and then 187.50 (major psychological level, … More GBP/JPY Technical Analysis: From One Trend to Another
The Euro put in a bullish Morning Star candlestick pattern, hinting prices may be preparing to launch an upward correction against the British Pound. Positive RSI divergence hints at ebbing bearish momentum and reinforces the case for an upside scenario. A daily close above the 14.6% Fibonacci retracement at 0.7057 initially opens the … More EUR/GBP Technical Analysis
Focus is primarily on the commodity currencies this week – USD/CAD NZD/USD. As the derivatives put another leg down , those currencies are either in trend or near resistance.USD/CAD is potentially the more interesting one of the two as it is closing in on some important long-term resistance into the key dates at the end … More Price & Time: USD/CAD – It’s Showtime
The GBPUSD, has held its 40 pip range this morning after a disappointing set of Advanced Retail Sales figures being released this morning. Expectations for the event were set at 0.3%, and released at an actual 0.1% for the month of October. This event quickly caused a selloff of the US Dollar and pushed the … More GBP/USD 4H.
The AUDCAD is working on its fourth month of trading inside of a 340 pip range. As seen above, price has recently traded off of resistance near .9740, which coincides with its May 2015 high. Previous moves from this point of resistance, have pointed price towards support near .9400. If range bound conditions continue, traders … More AUD/CAD TECHNICAL’S
Wealth is a Mindset . . 