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6 JAN 17 GBPUSD HORIZONTAL SUPPORT BREAK

killer195175 Posted 6 Jan.  in #Trader's blog #Gbpusd #Sell #Falling #Weakness #Horizontal Support
Hello, fellow traders,
As we can see that today the GBPUSD has come below our level of 1.2325 and perhaps will close week and day below this level. So further weakness is expected in the pair. Look for sell on the rise.
GBPUSD 4H CHART
Any comments about the setup are welcome.
Happy trading to all.
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NZDUSD on 1 FEB 16

killer195175 Posted 11 Dec. as Analysis on NZD/USD, Target: .7000, Date: 1st of February, 12:00 GMT  in #Technical analysis #NZD/USD #Nzdusd #Bearish Trend #Symmetrical Triangle #Horizontal Support
Hello fellow traders,
NZDUSD seems to have stuck between the two trendlines of the symmetrical triangle being formed on a weekly chart.
WEEKLY CHART NZDUSD
Zooming into the Daily chart we can see that the price has a bearish momentum and is capped by a horizontal resistance line to the upside.
DAILY CHART NZDUSD
My price target is .7000 levels.
Happy trading to all.
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killer195175 20 Jan.

UPDATE-3

The price has again touched and got rejected from our level of .72229. But now I am concerned about the level as if a level is touched again and again in small time then it gets broken. It is now established that it is an important level. If price fails to break on the upside then it will surely retrace to our target price of .7000 on 1st February. Let us see how the things unfold next week.

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killer195175 23 Jan.

UPDATE-4

The price has touched and got rejected from our level of .72229 for the fourth time and got rejected. It seems that the level is holding good. The pair may start its downtrend soon and reach our price target of .7000 by the first week of February.

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killer195175 24 Jan.

UPDATE-5

The price has broken the .72229 level on the upside now downside seems limited if the price stays above this level. let us see how the things unfold.

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killer195175 25 Jan.

UPDATE-6
The price after breaking on the upside took support at our level 0f 0.72229. Now if the pair finds resistance at the confluence of the trendlines then only there is a chance of price reaching near .7000 levels. I expect the CPI data to move the pair in the South direction as the Australian data was negative so I expect this data also to initiate a selloff in the pair.

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killer195175 26 Jan.

UPDATE-7
After the positive data on the CPI, the pair moved to the confluence of the trendlines and got rejected beautifully. The price then took support at our previous level of .72229 and from here I feel that if the price has to reach near .7000 levels then it need to break this level of .72229. otherwise, the pair may be contained in a range from .73000 and .72229 levels. let us see how the things unfold. I am still bearish in the longer term for NZDUSD.

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