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 clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.