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GBPJPYThe descending blue and red range is a long linear regression broken in the purple rectangle! This is a good sign for the price to rise, but there are also many signs of a decline. The red rectangle is strong resistance! The white dot is a short-term linear regression! The price is in its possible resistance. And these are two strong signs that prices are falling! You can follow the price of oil! Rising oil prices are not having a good effect on the Japanese economy! And it can break the resistance, but oil is also close to the resistance levels! You also have to wait until the end of the week and assess the market conditions this week. If the candle succeeds in breaking the range, it means that the price will go up! But my prediction is that the resistance will not be broken and the price will go back down! what is your opinion? Green or red route?
Short
by AliSignals
GBPNZD longThe green area is a very important area! Which is broken and now we are back to it! The line that changes color from blue to black is Magic Trend indicator, which is now blue and looks upward. The green dotted line is a strong support! Which is accompanied by strong volumetric support on January 7 (purple circle). The red dotted line is a strong resistance line that has been broken since the beginning of the week! another sign of higher prices in near future! The red line marked below the red highlight range is a deviation of 2 from the regression line that has been valid since mid-2016, and breakout has been clearly unsuccessful! Everything seems to be ready for the pair to climb, but people who depend on candle approval in their strategy can wait for candle confirmation!
Long
by AliSignals