05:10GMT Next two sessions possibility (good quality):
05:05GMT All our pairs are looking UP but this may sustain as depth of USD weakness will take a confirmation this week.
02:00GMT JPY crosses patterns
01:40GMT Good Morning Friends, All our pairs are in DOWN gear "now" but EURUSD is in bit of situation as it will look to hit 127% wall before the drop. JPYs pattern shows it should make it down but fear of market interference keeps USDJPY pushing back above 85.00.GBPUSD completed in both 161.8% Daily & 127% Weekly walls - it should start thinking DOWN.
Hi J, technical play shows "very high" RSI number for gbpusd - must be a correction soon? Thanks,
ReplyDeleteI think pattern wall shows 1.6003 is good for a drop - may be slide but risk of another UP trend to 1.62 is likely - this is due poor USD data releases
ReplyDeleteJust for your assurance I've 7 SHORTS in GBPUSD & 16 SHORTS in EURUSD. Now you know why I'm very quite - just needs to wait - Keep a watch on the Pattern charts (scroll to the bottom of the home and you will see GBPUSD pattern for long-term.
ReplyDeleteThanks J, without being sounded a dummy, how do you read the "pattern walls" - what are we suppose to see 50% level or something like that? Thanks again
ReplyDeleteThe walls act as resistence/support. This is the point from where you should try to hedge. Like that of GBPUSD, once GBPUSD broke the 127% wall it went to hit 161.8% and Usually 161.8% is extreme in daily & weekly charts. From that point you can hold big SHORTs.
ReplyDelete