Northern dynamics, but with a strong resistance based at 1.5817

24 June, 2015

GBP/USD

Daily chart: The price has preserved potential of growth to the upper Bollinger band (1.5950), though the pair is based in the middle of the envelope range and that makes a correction to the middle line (1.5514) possible.

Í4: strong local resistance in the middle Bollinger band (1.5817), from where a decline to 1.5703 can take place.

Í1: the price has broken the upper Bollinger envelope and ADX parameters are strong, which makes growth scenario more probable.

Expectations: growth to 1.5817 and, in case of the upper breakthrough, to 1.5850, with the middle-term target for 100 points above to 1.5950.

Trading decisions:

1) Purchases to 1.5817, 1.5850 and 1.5950 are possible.

2) Also decline from 1.5817 down to 1.57 is possible. We shall check the level if it gives any short signals.


Source link  
Selling from the area 1.5553-1.5562

Daily chart: the pair is striving to reach the upper Bollinger band (1.5715), but ADX show weaknesses, so we wait a strong resistance in this area...

Passing moves with local advantage of bulls

Daily chart: the pair is moving within the Bollinger envelopes, being "surrounded" by two colliding O&U s - from north it is from 1.1110, from south it is coming from 1.0825...

British Pound generally targets 1.54

Daily chart: a bearish pin from the upper Bollinger band has been produced , which almost certainly will bring the pair to the bottom Bollinger band in the next few days (1.5403)...


In the event of a rollback to 123.70 we should sell

Daily chart : the middle Bollinger band (123.14) is being tested and, apparently, decline to the bottom band (121.36) will continue...

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

Daily chart: bulls are moving to the middle Bollinger band (1.1026), from where a pullback is probable to happen to the area of demand in Euro configured by the pattern O&U (1.0825)...

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...

  


Share: