Day Trading Recommendation and Technical Analysis of Sterling as on 28-08-2014

GBPUSD:

Sterling was under a great selling pressure against US dollar since couple of weeks but it is a time for correction or might be the reversal on breakage of key resistance levels. This pair moved more then 600 pips in 7 weeks. 

Technically this pair is in bullish trend for day trading because SMA 100 and 200 are indicating a clear bullish trend. Ichimoku cloud signal is also bullish in h1 graph. Alligator and parabolic SAR signal is also bullish in h1 graph. Bollinger Band is indicating a clear reversal trend in d1 graph.   

Further more in d1 graph the d wave is indicating some correction here. Sterling is also testing the support level  4th April,2014. It seems that sterling will try to test 1.6696, the 23.6% Febo level.

Buy Above 1.6570, Expected Targets 1.6643/70  Stop loss 1.6535,Break out sell 1.6530

 

Support

S1

1.6539

S2

1.6504

S3

1.6471

Resistance:

R1

1.6607

R2

1.6640

R3

1.6675

Views: 358

Comment by Strong manip on August 28, 2014 at 8:53am
Mb targeting 1,6514/25?
Comment by Jishan M Ananta on August 29, 2014 at 10:27pm

plz give us a eurusd Technical Analysis

Comment

You need to be a member of Forex Social Network to add comments!

Members

Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

https://www.facebook.com/superfxnews

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video