Posted on April 29, 2016

4 forex majors

1)      If the price breaks above the top at 100.20 then the currency pair is most likely resuming its weekly break of the triangle to the upside(funny enough, 100.20 was the target we mentioned in the trading room)

The USD has indeed bounced off of the support levels mentioned in the previous article. From a technical analysis point of view, there were strongarguments on the charts to expect a bounce to the upside at that point in time. And the break of down trend channel and inverse head and shoulderschart pattern indeed materialized and the USD strength was especially visible against the Yen and Euro. trade| )

Within the wave C (green) the EUR/USD could still have 1 more bullish continuation remaining if price can break above resistance. Yesterday theEUR/USD bounced off a shallow Fib level which confirmed the wave 4 (orange).

Watch 4 forex majors

Forex Majors Outlook 4-25-2011 4 forex majors trade.

EUR/USD 4 hour. The EUR/USD has reached the 100% Fibonacci target of wave C vs. A (green). If price corrects with a shallow retracement and shows a contracting .

Watch out for this one! If you’ve read Forex Gump’s 5 factors supporting a pound rally, then you’d love this setup even more. See,GBP/USD showed a pullback after rising strongly for the past couple of days. Okay maybe it’s only until the 38.2% Fib on the 1-hour time frame,but it’s something! It also helps that the pair is having trouble falling below a previous channel resistance level just below the 100 SMA. Whatdo you think? Is it time to buy Cable?

Description 4 forex majors

Last week US Durable Goods Orders for January grew at the strongest pace in 10 months reaching 4.9% in January, following a 5.1% plunge in December.The reading exceeded market forecast of 3.0%, suggesting positive outlook for US manufacturers. Meanwhile, Core durable goods orders, excludingtransportation, increased 1.8%, still the best release since June 2014. Furthermore, US job market data remained positive despite a 10,000 rise in thenumber of jobless claims.  According to the data, chances for a March rate hike are not very high but further monetary policy tightening is likelylater n the year. Let’s start,

1)      Is this a pause for more a continuation to the 618 Fibonacci retracement and later on to the 786?

Demo 4 forex majors.

EUR/USD 4 hour. The EUR/USD has reached the 100% Fibonacci target of wave C vs. A (green). If price corrects with a shallow retracement and shows a contracting .

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The next possible resistance levels for the greenback may be found around 1.07 against the euro, 1.025 against the franc and 120.00 against the yen. (Demo 4 forex majors.|)

The GBPUSD remains „stubbornly“ strong and despite the major daily and weekly resistance so close by, has refused to break the up trend channel. Aslong as price stays in that trend channel (light green lines) the currency can keep pushing and pushing up with the trend. However, I am notinterested in trading this at the moment. This is what I am looking for:

With the above mentioned observations in mind, is there any trade setup? The signals are mixed so there is not a clear cut favorite, but in general Iwould split the chart into these bullish and bearish zones & bounces: