Sell setup on GBPUSD pair. GBP is weaker than EUR. Therefore, I choose to sell GBP than EUR. US interest rate continue to stay for longer. Let’s see how this sell setup unfold itself. I am on trading on lower timeframe 15 minutes chart.
Daily chart is showing head and shoulder pattern. Uptrend line is already broken. The price is rejected by support turn resistance level. There are a lot of sell orders at that level.
The Fed still have intent to increase interest rate at the end of the year 2023 should the inflation continue to stay above 2% target. As US Interest rate increase, the USD demand...
USDCAD is probably going to break the trendline and H4 resistance structure. Once these 2 confirmations happen, the market is giving us information that trend reserve is likely to happen. Then, we can wait for retest of the resistance turn support zone for a long trade. If the confirmations not happen, no trade will be taken.
EURJPY has breakout the triangle pattern but can it push even higher? Current price is at Weekly and Resistance zone. We need to wait for retest confirmation at the broken triangle trendline. From higher time frame Weekly and Monthly charts, the trend is still bullish.
GBPAUD is likely making a pullback. Should the market give us confirmation on the support zone, we can put a buy trade and take profit at the upper 1st zone and 2nd zone. There are several confirmations to consider:
1. Uptrend trendline is broken on H4 timeframe
2. Channel is confluence with H4 support zone and uptrend trendline retest
3. Inverted Head and...
