Despite the NFP announcement on Friday the GBP/USD has remained supported by the 8-day EMA. This market is still in an uptrend and so the most likely scenario next week is a resumption of the buying pressure and a retest of resistance at 1.6800. If the market closes above 1.6800 early next week this could open the flood gates to significantly higher prices in this market.…Continue
The Crude Oil market produced a bullish price action false-break of key support today. From here we would not be surprised to see this market move higher and there will be high volatility tomorrow with the NFP announcement due out of the US.
Added by Lewis Barber on March 6, 2014 at 10:23pm — No Comments
The pound-dollar pushed higher today as the market rejected dynamic support and now looks poised to make another run higher as the uptrend regains momentum. With the NFP news announcement on Friday we expect to see a lot of volatility on this pair into the end of this week - the most likely scenario remains an upside advance.…Continue
Price is currently sitting right above key support at 1.6600 and we will be watching out for a bullish price action false-break early next week. If price closes below 1.6600 early next week we could see a move back to 1.6300 - either scenario seems equally likely right…Continue
Added by Lewis Barber on February 23, 2014 at 10:28pm — No Comments
The GBP/USD dipped back further again today towards the 8-day EMA. There is quite a lot of confluence coming in below and the trend is definitely still up so we favor looking for long positions here. Traders can look out for price action buy signals on the daily / 4-hour timeframe tomorrow to rejoin the bullish momentum in this market. There is big news out of the UK tomorrow morning so we expect to see movement on this pair…Continue
Added by Lewis Barber on February 18, 2014 at 11:05pm — No Comments