Finally – there is some new air on the markets! Everything due to yesterday Mark Carney speech who this time became really dovish and with other BoE folks put GBP on lower, very important levels. They can gave great opportunities to open trend-following positions. Let’s start today’s PA potential setups preview:
EUR vs USD consolidates in the vicinity of local minimum, but it is still visible that demand activates there every time the pair tries to fall lower. If upward correction shows up, it will be worth to look for selling signals from Price Action – especially near one of three resistances marked on the chart. Every single one is important and they all could stop the price.
Yesterday pound sterling slippage put GBP/CHF near key support. Signals coming from lower timeframes may be used to open long positions, because the trend is still clearly upward.
Very similar situation on Cable. Longly awaited fall finally took place and price approached a barrier, which may stop further losses. Pin bar (doji) showed on the H4 chart and gave the first purchase impulse. Of course after such strong downward move, the minimum could be “corrected”, but RR ratio here is even 45:1!
Ninja approaches resistance level. We recommend you swing trading, which on this pair gives really good results (also support/resistance trading). So it is worth to observe price action near abovementioned level. If selling signal shows up, it will be possible to think about short positioning.