Very interesting area that the GBP/USD is at. First a major counter upward trendline was broken and we retraced to the backside on Friday, but failed to break below. We could see next week testing this area again but the pair may very well resume its upward motion from here. Breaking of this level will see sellers targeting 1.5945 and lower 1.5900, 1.5830 as immediate targets.
EUR/USD found support at 1.3498 pivot swing high. Should this area hold, BUYING will resume. Immediate targets for sellers are 1.3435, 1.3415 and 1.3375.
Pair has a higher low and swing low LONG setup around 0.7590. Preferred TP 0.7680 to 0.7694. If this support area is broken we will see a fall to 0.7425.
Higher Low and Pivot Swing Low LONG setup at 1.000. If this support area fails to hold, selling will continue to 0.9880 to 0.9830.
TP1 Hit at possible reversal zone.
Run up may end here at 1.6070-80 for serious fall to 1.5700.
http://img816.imageshack.us/img816/7031/imageqa.png
Shorts closed for +52,+39,+75,+55
Shorts closed for +52pips
It has been verrry tricky finding the trend this week.
Long EUR/USD @ Weekly HL and PVSL. Long term T1 = 1.4300, Target for this week, 1.3690, 1.3744, 1.3840, 1.3900
http://img844.imageshack.us/img844/8782/imageqm.png
Closed short on GBP/USD, reversed Long at 1.5992 for 1.6200 watching 1.6012 PVSH resistance. Long term T1 1.6500.
Longs on these pairs continue with opportunities on 30M and H1 to add to our positions at higher-low and pivot swing low setups.
Glad to see you’ve been doing well this week. I haven’t done much since I had to spend the weekend amd holiday with the wife so I haven’t even looked at my comp yet lol.
On the 1hr tf the trends for gbp and euro vs $ seem to be bullish, I think I’m going to waitfor a correction and go longif it provides enough evidence for a reasomable bounce.
Hey raging, was wondering where u were at today. Take a look at the Weekly charts for these pairs and let me know what you see. On the H1 they have broken above strong resistance battled with all day today, so these areas will likely be used as support towards 1.6180-1.6200 on GU and 1.3630-1.3700 on EU. Will see how they play out.
Our Long trades on these pairs are paying off very nicely. 1.6077 Key area for GBP/USD.
EUR/USD Closed +70 GBP/USD Closed +61
Shorts holding nicely on 30M EUR/USD so far. Stop at 1.3565. TP 1.3370-54, 1.3284
This could be a reversal for longer term selling. Key resistance at 1.6100-1.6105
im short the gbp and eur short term…all 1hr TF
short @ 3498 euro tp 3465
short @ 6140 gbp tp 61080 for a correction play and will go long on a larger position once it rallies again
Holding these a bit longer raging. I am a bit concerned about the rising channel that we just broke south out of on 30M EUR and Tweezers on H4 GBP that came short of last week’s high. Those however are good levels to watch for threats to the short trade.
