Hello buddies,
I am Amr Talaak from Egypt. I am a Forex trader and analyst for more than 3 years. I will provide you with nearly daily and weekly reviews and analysis of Pound ( cable ) within this thread.
it is provided by FXengine at facebook. you can visit our group and join us.
wait me, thanks :57:
This is my first weekly analysis of Cable
Pair is in an uptrend forming higher highs and higher lows so it is preferable to buy pair with the bullish waves.by looking at the supply and demand zones, we can see the broken downtrend line retest at weekly time frame. Pair has already retest it and bounced from it.
there is a strong support area at 1.6262 that represents a previous broken high. pair may retest at the beginning of the next week.Pair walks in an small down channel at H4 TF now. and any breakthrough of the downtrend line will give it the power to rally and continues in its bullish wave and further northern targets.
Pair has formed a chart pattern on daily time frame that shows the price action and the dominance of bulls or buyers and upper hand above bears or sellers.
The attitude : Buy the pair at open of the next week the TP1 @ 1.6470 , TP2 @ 1.6640 and TP3 at 1.6730 with SL @ 1.6145 .
GBPUSD H4
Analysis
Pair is forming higher highs and higher lows on H4 so it is in an uptrend. breakout of the last high at 1.6441.
Recommendation
BUY market @ 1.6440
SL @ 1.6285
TP1 @ 1.6515
TP2 @ 1.6585 ( TS : 50 pips once TP1 hit )
GBPUSD
Analysis
Pair has formed a chart pattern; rectangle at daily chart. the bullish waves are continued with bullish engulfing candlesticks patterns at daily, H4 and weekly time frames. Pair retest the broken resistance level that changed into a support or demand zone now at 1.6262.
Recommendation
BUY market @ 1.6262
SL @ 1.6140
TP1 @ 1.6430
TP2 @ 1.6600 ( TS : 110 pips once TP1 hit )
Regards
Dr. Amr Talaak
from FXengine.info
EURUSD
Pair has formed a double top at H4 time frame and has broken the confirmation line.
USDJPY
Pair has broken the weekly high at 103.74 and retested it.
source : FXengine.info: Daily review and report of currencies 20 December 2013
Weekly analysis of Aussie AUDUSD 23 - 27 December 2013
AUDUSD
Pair is declining and now encounters a strong support level consists of an uptrend line at weekly time fame besides a low at .8846. the formation of pin bar ( hammer ) at weekly TF enhances the bullish momentum of the pair.
source : FXengine.info: Weekly analysis of Aussie AUDUSD 23 - 27 December 2013
Regards
Dr. Amr Talaak
GBPUSD
Pair is in a bullish momentum. the bullish momentum and bias is strong and is clarified by the higher highs and higher lows on H4 and daily time frames. The engulfing green candlesticks justifies the bullish trend. Right now pair has formed a rectangle at H4.
Recommendation
BUY market @ 1.6500
SL @ 1.6400
TP1 @ 1.6600
TP2 @ 1.6700
Regards
Dr. Amr Talaak
FXengine.info: Swing recommendation ( 9 ) on GBPUSD 27 December 2013
Price action revealed … great example on pound dollar.
FXengine.info: Watch price action with Pound dollar
