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USD/JPY long setup

On a daily chart we can see that price is trading around Kijun Sen which is definitely an area of support for this pair.
On H4 chart it is also obvious that we have a strong uptrend. Price went through the 120 level, reached almost 122 and then came back to 118. I personally think that from here we have a good chance to go long. Perhaps price will drop on market open or soon afterwards, perhaps it will take out lows below the recent swing low. Also it is possible that pair will go straight back…
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GBP/USD short

Still no major changes with this currency pair. Looking for some short opportunities. All the majors had some correction this week so far, will see if it changes tomorrow or only next week. Outlook on all those pairs is still very bearish.
I have marked recent swing highs as those areas most likely will be the zone of reversal. One could go short at the current price with a tight stop loss above the recent high marked with an ellipse, however I would wait for tomorrow morning to see if the pri…
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USD/JPY long setup

We saw a sharp break through supporting trendline followed by a sharp price return back above it. This is looking too good! Potentially I would target recent high at 1.22, next target would be major high at around 1.24 and finally 1.2500. SL below the low of the H4 bar or look for a better entry by scaling to a lower time frame.
There is no reason ( fundamental ) that would justify this sudden drop, it doesn't look like a beginning of a reversal, more like a short term correction. Price acti…
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GBP/USD long term

Notice the ''W'' shaped bottom that reversed the price previously, the striped line is the level from where we could have expected a bounce or liquidation of some shorts. Not much volatility at this level and therefore no support.
If we look at the candlesticks they tell you the same story. The week after reaching this level we see an inside bar - indecision. And last week we get an engulfing candlestick with a new lower low and lower close indicating that most likely the price will continue t…
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GBP/USD short setup

Pair is undoubtedly trading downwards for the last few months, currently stuck in a range between 1.58 and 1.56. It has also formed a symmetric triangle which in these market conditions in my opinion is more likely to be a continuation pattern. We saw a break out of this triangle, however it was insufficient to attract interest of buyers.
We also had an interest rate announcement today which remained flat at 0.50 % respectively not giving any encouragement to go long.
As an entry I chose engul…
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USD/CHF Wedge

Since the beginning of the October USD/CHF has formed a wedge. It can be always a continuation or a reversal pattern. I will be lloking for an entry in case the price breaks out of the formation. Purple lines represent previous highs and the green line is a 1.0000 level - which is definitely very significant. My take on this is that price will break out , then pull back to the new support ( current resistance ) and then will test 1.0000 mark from where we could see a significant sell off.
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GBP/USD update

Was expecting some more movement today for this pair. Though it was not too volatile. It played out scenario A. Took out the low marked with green ellipse. We are also dealing with a very round number 1.7000. It is acting kind of a support now. It might not be hit anymore. Most likely 1.7050 was the intraday level that got more attention from the traders. I am waiting for a break out tomorrow to the upside. My target is the white line on the chart @ 1.7190. If price action is strong enough, targ…
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VikaChechenkova avatar

Exellent!!!!

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GBP/USD for 22/07

Really quiet day the today. Not much going on. As most of the time on Mondays. I am still long on GBP/USD. I personally think that Asian session will be flat and then in the morning when European session starts or shortly after that we will see a push lower. If I am right soon afterwards the price will reverse and continue to the upside. As on H4 and daily charts we are still pretty bullish. Currently the most important price level to me looks the one that is marked with green horizontal line. I…
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GBP/USD near term outlook

For last two weeks pair has been trading sideways, making new highs and new lows every now and then. Not really an expanding triangle either, more like an ascending triangle. The last push up was caused by news release, but price didn't manage to go higher, instead it dropped taking out stops that were placed by buyers below this huge bullish candle.
The overall trend for GBP/USD is definitely bullish. It also trades above SMA 200 on H4 and daily charts.
I took a long position on Friday, hopef…
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EUR/USD long term outlook

On weekends I like to take a look at larger time frames and see what is the picture.
I look at the monthly chart first, marked one recent swing high and one swing low. There have been 4 attempts to break above that swing high (marked with blue ellipse). Each time price was pushed slightly higher. It is very likely that a large move down will follow.
Could go as low as the previous swing low at around 1.2750.
Another possibility is that recent weekly lows (marked with white rectangles) will be ta…
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