The U.S. dollar strengthened as Treasury yields pushed to new highs amidst the political chaos in the UK and the week retail sales from the month of September are not bringing confidence to the Pound Sterling. Despite sinking to the lowest level in recent times and looking at it from a technical standpoint I am of the opinion that bullish momentum could be triggered if the price breaks out of the supply zone at the $1.14000 area in the coming week.
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Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
With multiple rejections of the $1.14000 level by the sellers again, I will be looking at a breakdown/retest of the new neckline at $1.13000 for selling opportunities at least in the meantime as price action is been monitored.Good morning
Trade active
Sellers struggle to gain traction in the last 24 hours, a bullish engulfing candle here will negate selling pressure as a breakout of the $1.14000 level will incite a bullish momentumGood morning
Trade active
Will activities take us out of the sell position as buying pressure increases at the $1.12600 level?Trade closed: stop reached
Stopped out in a loss as the price action breaks out of the important key level at the $1.14000 level after 3 weeks attempt from the buyers. So, lets see if the market will be presenting a second chance in the form of either a retest of structure or trend continuation pattern to join the potential rally.... Update coming up soonTrade active
Since the successful breakoout of the $1.14000 level yesterday, we continue to lookout for a second opportunity to join the potential rally. However, it is worth noting here that the price has been caught within a channel and a breakout or breakdown of the channel will present a trading opportunity. We continue to wait....Good morning
Trade active
During our live session today, we projected that price is likely going tol retest the structure at around $1.14850 to join the potential trend continuation. But with the current structure, it appears we might not be seeing this happen. However, a breakout/retest of the $1.16000 should incite a trend continuation.Trade active
Move stop-loss accordingly to protect the current position against sudden reversal as we begin to notice buying traction for the US Dollar.Trade active
Stop-loss moved to desired profit as selling appears at the $1.16500 level. The breakdown of the $1.16000 level is likely going to lead to a retracement in anticipation of a trend continuation.Good mornign
Trade active
Price is yet to plunge into the buy zone. However, the identification of a reversal pattern above this buy zone could incite another wave of bullish momentum hence we look at the next structure at the $1.16000 level for buying opportunity - a breakout/retest shall confirm a trend continuation.Trade active
After being taken out with roughly 100pips profit in the previous position, it appears the US Dollar is gaining traction as a reversal pattern is identified at the $1.1600 level so there is a neckline at the $1.15500 area to guide selling opportunities.Good morning
Trade active
UPDATEWe have a signal
Trade active
Position secured 
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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.
Trade smart. Trade consciously
Related publications
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.