Looks like price will continue selling. I'd like to see price retrace back into the 1.3445 - 1.3432 area, before it heads for the discount arrays. The relative equal lows tell me price is still headed down, before a significant retracement. September seems to be the month where we'll see big moves. Be on the look out; time to load your guns!
The USDZAR is ready to rally but the daily equal lows are suspect. It would be great to see them swept before it rallies, but that will depend on how they use the news.
So, generally I'm happy with the way the market is going. Though a little bit uncertain about how high it wants to go before it resumes its downward spiral, things are going good so far. Looking at Cable, on an hourly chart, we see that between 06:00 am and 08:00 am (New York Time), there is FVG formed and to its left, there is a breaker. This a perfect setup for...
No surprises. As you know, cable and fibre move together! What we need to see is about a 50 pip move to reach the highlighted FVGs. The BoE was used to trigger the move and I still expect it to see it got higher, clearing the 1 hour equal highs! Stay safe and don't blow your account!
Price recently plunged into the deep and has now returned for fair value. We are already in a significant area, on a higher time-frame(1D), so any moment from now they can collapse it, much like last week! Be on the look-out like a meerkat! 1.1680 and 1.1720 are institutional price levels and price tends to have strong reactions in these areas. I expect to see...
The fibre has begun its downward spiral. You can look for sell set-ups from now on; every time it buys, wait and look for sells. Unless of course you can trade both sides of the market. Price is aiming for 1.1060 level.
UsdZar is set to sell for some time. Make sure you catch the ride. Quite interesting how the current political tensions between the US and South Africa are having the opposite effect on ZAR. Side note: make hay while the sun shines, soon you'll be paying for this.
EurUsd is primed to go up for a long time. It's a good time to buy it. Bullish.
UsdZar. This will retrace to the the area where the arrows are pointing and continue selling.
Two equal highs, Friday's as well as yesterday's, were taken. Liquidity has been taken. The rectangle highlights the bearish breaker on the far left. Price is headed for the hourly equal lows at 1.0666.