Kumo and 50% Fib Critical for GBPUSD’s Advance
I’ve been watching the GBPUSD lately and have been tempted (actually did take a long) off the price action triggers off the lows but they have simply underperformed as the pair has been stuck within a 150pip range for the last 4-5 days chopping around with no major signal as to who’s in charge – only hints (that the bulls are trying to wrestle control). However, the Kumo...
Read MoreForex Trade Setups June 27th
GBPUSD – Coming up to a critical Fib/Support Level Since the beginning of May and printing the yearly high just a shade above 1.6700, the pound has fallen virtually 6 out of every 10 trading days and has shed over 700pips since then. Whatever buying interest was there for the first half of the year is clearly gone now. What is important to notice is the pair is approaching a critical...
Read MoreForex Trade Setups June 23rd
DOW and NASDAQ Bounce strongly – but which one is the better play? DOW After some strong and volatile selling to start the day off, shedding over 230pts, the index rebounded strongly gaining most of it back to close 57pts down. This 180pt rejection is a strong one and should be noticed. But the index has its challenges with the daily 20ema just above and the 12200 resistance from the...
Read MoreForex Trade Setups June 22nd
GBPUSD – Can it bounce after the heavy losses intraday? After the decent rise from the bounce off 1.61 since the 19th, the pair got stuck at 1.6250 and began a really aggressive sell-off with a stiff rejection candle to really start the run. This was followed up by 12 out of 16hrs of straight selling which has now run into a little rejection down below. Is this the short term low in...
Read MoreForex Trade Signals June 21st
DOW Index – Breaking the 20ema? After selling off for all of June, the DOW index has been on a 4 day climb which is worthy of note. Most recently, it broke and closed above the 20ema on the daily chart which it has not done all month. Is this the start of a new uptrend? Could be but there is a key role-reversal level ahead at the 38.2% fib at 12252.15 which was the swing low on May...
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