I have some questions here and no clear answers yet. For the moment, there is no trading idea here.
1) Is the USD going to be strong this week? - after scanning other USD pairs, the best I can say is "maybe".
2) Looking at GBPUSD, can we say it is bearish. - The uptrend does seem to be exhausting, but until this support is convincingly broken, it is still a "maybe".
It follows that there is no trade here, just a possibility. I don't want to fall in the trap of anticipating what will happen next. That is not a trader's job. Patience is one of the core skills in trading, that we have to acquire and master. Waiting for the market to show us its hand is always advisable.
This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk so carefully managing your capital and risk is important. If you like my idea, please give a “boost” and follow me to get even more.
1) Is the USD going to be strong this week? - after scanning other USD pairs, the best I can say is "maybe".
2) Looking at GBPUSD, can we say it is bearish. - The uptrend does seem to be exhausting, but until this support is convincingly broken, it is still a "maybe".
It follows that there is no trade here, just a possibility. I don't want to fall in the trap of anticipating what will happen next. That is not a trader's job. Patience is one of the core skills in trading, that we have to acquire and master. Waiting for the market to show us its hand is always advisable.
This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk so carefully managing your capital and risk is important. If you like my idea, please give a “boost” and follow me to get even more.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.