1mn with ForexSurvivor
GBPCHF Bullish Flag,
The daily overbought condition of ForexSurvivor oscillators have construed a bullish flag after rallying almost 300 pips this month. Despite the 50% Fib correction of the this month’s rally, market stays overbought, unwilling to give up its current uptrend yet.
The parameters of the bullish flag since it topped at 1.5300, the bouncing at 50% Fib line of June’s rally, the U-turn of yesterday which triggered a close back above MA20, and the inability to unwind from overbought zone, lead to designate that bull force is unbeatable.
As long as no close below 1.5100 is triggered, the cross uptrend should continue once a daily close above yesterday’s high is activated.
There is a possibility of testing 1.5100 as we are crawling into the weekend and as such, we recommend pursuing the north design only after the mentioned daily close is materialized.
Aggressive traders may jump onto 1.5150 on the condition the exit scenario is respected.
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
GBPCHF Bullish Flag,
The daily overbought condition of ForexSurvivor oscillators have construed a bullish flag after rallying almost 300 pips this month. Despite the 50% Fib correction of the this month’s rally, market stays overbought, unwilling to give up its current uptrend yet.
The parameters of the bullish flag since it topped at 1.5300, the bouncing at 50% Fib line of June’s rally, the U-turn of yesterday which triggered a close back above MA20, and the inability to unwind from overbought zone, lead to designate that bull force is unbeatable.
As long as no close below 1.5100 is triggered, the cross uptrend should continue once a daily close above yesterday’s high is activated.
There is a possibility of testing 1.5100 as we are crawling into the weekend and as such, we recommend pursuing the north design only after the mentioned daily close is materialized.
Aggressive traders may jump onto 1.5150 on the condition the exit scenario is respected.
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
Recommended Content
Editors’ Picks
EUR/USD climbs to 10-day highs above 1.0700
EUR/USD gained traction and rose to its highest level in over a week above 1.0700 in the American session on Tuesday. The renewed US Dollar weakness following the disappointing PMI data helps the pair stretch higher.
GBP/USD extends recovery beyond 1.2400 on broad USD weakness
GBP/USD gathered bullish momentum and extended its daily rebound toward 1.2450 in the second half of the day. The US Dollar came under heavy selling pressure after weaker-than-forecast PMI data and fueled the pair's rally.
Gold rebounds to $2,320 as US yields turn south
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
Germany’s economic come back
Germany is the sick man of Europe no more. Thanks to its service sector, it now appears that it will exit recession, and the economic future could be bright. The PMI data for April surprised on the upside for Germany, led by the service sector.