Wait touch of 1.53 and growth to 1.5472

27 May, 2015

GBP/USD

Daily chart: Bears managed to get into the bottom envelope and now everything is ready for a further decline of price to 1.5065 (the bottom Bollinger band). We will try to assess their potential using younger charts.

Í4: A serious support is based on 1.53 (the bottom Bollinger band). A slight convergence of oscillator is present, but it also puts a breakthrough into a question.

Í1: we also see a bullish convergence here. So, when Lows are updated (or perhaps, without this update), we will wait when upward movement will start to 1.5472

Expectations: decline to 1.53 and growth to 1.5472

Trading decisions:

1) We sell to 1.53

2) We buy from 1.53 to 1.5472.


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Selling from the area 1.5553-1.5562

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Passing moves with local advantage of bulls

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British Pound generally targets 1.54

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In the event of a rollback to 123.70 we should sell

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Selling from 123.70

The daily chart: the pair turns to be in flat within the envelope Bollinger, however, here is a loss of support from the middle band (123.21), we see a dive to the bottom envelope in the direction of the bottom line (121.36)...

Flat 1.0963 -1.1006

Daily chart: the middle Bollinger band (1.1026) has been reached and, in contrast to descending envelopes and passive ADX, we can expect decline to the bottom band (1.0784) prior to a new upward dash...


Looking for growth to 1.0959-1.0978 and decline to 1.0881

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Waiting for a pullback from the area 1.0978 and then we shall buy again

Yesterday the pair has confirmed its correctional potential. The nearest strong resistance - the middle Bollinger band (1.1047), from where Euro can go to 1.0825, accumulating a probable demand within the frames of O&U pattern. From this area, it can move even upper to 1.1280 and 1.1380...

Gold is losing its weight

This week we have at least three reasons to expect a descending tendency to go on. 1. US currency is demonstrating a confident growth of quotations...

  


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