GBP/USD Analysis
I wrote last Wednesday that the technical picture was not changing, with the price continuing to range between 1.4200 and 1.4100. I thought that there might be a breakout on Thursday, but I saw the best opportunities here for Wednesday as likely to arise at any reversals which might set up at either 1.4200 or 1.4116.
The price did reach 1.4116 on Wednesday but continued to fall before turning bullish the next day after the 1.4100 held, so my prediction that the ranging environment support at 1.4100 would hold turned out to be correct.
The 1.4100 area is under pressure again, and we see this multi-week consolidation now starting to look heavy as the U.S. dollar seems to be emerging as the strongest major currency. This suggests that we are becoming increasingly likely to see a strong bearish breakdown below the lower boundary of the recent consolidation pattern at 1.4100.
I wrote last Wednesday that the technical picture was not changing, with the price continuing to range between 1.4200 and 1.4100. I thought that there might be a breakout on Thursday, but I saw the best opportunities here for Wednesday as likely to arise at any reversals which might set up at either 1.4200 or 1.4116.
The price did reach 1.4116 on Wednesday but continued to fall before turning bullish the next day after the 1.4100 held, so my prediction that the ranging environment support at 1.4100 would hold turned out to be correct.
The 1.4100 area is under pressure again, and we see this multi-week consolidation now starting to look heavy as the U.S. dollar seems to be emerging as the strongest major currency. This suggests that we are becoming increasingly likely to see a strong bearish breakdown below the lower boundary of the recent consolidation pattern at 1.4100.
WTI Crude Oil Breakout (Update)2021-06-14 17:45:00
WTI Crude Oil Talking Points:
Oil prices hit a fresh two year high to start this week’s trade.
Buyers remain large and in-charge of crude oil prices, the bigger concern would be short-term dynamics as oil prices have been up for 13 of the past 16 trading days.
The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
WTI Crude Oil Talking Points:
Oil prices hit a fresh two year high to start this week’s trade.
Buyers remain large and in-charge of crude oil prices, the bigger concern would be short-term dynamics as oil prices have been up for 13 of the past 16 trading days.
The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
Nasdaq sell 14151.00
Tp 14120.00
Tp 14030.00
Tp 13950.00
Sl 14250.00
Use small lot size ‼️
Tp 14120.00
Tp 14030.00
Tp 13950.00
Sl 14250.00
Use small lot size ‼️
AUD/USD Forex Signal: Extremely Bearish Below 0.7675
The pair will likely keep falling as bears target the next key support at 0.7646.
Bearish View
Set a sell-stop at 0.7675 and a take-profit at 0.7645.
Add a stop-loss at 0.7750.
Timeline: 1-2 days.
Bullish View
Set a buy-stop at 0.7715 and a take-profit at 0.7850.
Add a stop-loss at 0.7650.
The AUD/USD pair tilted upwards after the positive news from Victoria. The pair rose to 0.7692, which was higher than Wednesday’s low of 0.7675.
The pair will likely keep falling as bears target the next key support at 0.7646.
Bearish View
Set a sell-stop at 0.7675 and a take-profit at 0.7645.
Add a stop-loss at 0.7750.
Timeline: 1-2 days.
Bullish View
Set a buy-stop at 0.7715 and a take-profit at 0.7850.
Add a stop-loss at 0.7650.
The AUD/USD pair tilted upwards after the positive news from Victoria. The pair rose to 0.7692, which was higher than Wednesday’s low of 0.7675.