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Dreamweaver1's Blog
EUR/GBP Bulliish in the short term
The EUR/GBP pair has been trading in a band between .9000 and .8750 in the daily and weekly charts. The pair has constantly bounced back from the bottom support level and the pair is again on its way to retest the higher end of the band. In the short term the pair can be traded on the long side with support/ stop loss level at .8770 level for targets to .8950 level. Good luck all.
AUDJPY good for Green Pips
The Pair has been constantly taking spport a the 95.4Xlevels and moving up and the previous low is in tact. As long as the previous low is not taken out the pair is good for resumption of the upward movement. the momentum seems to favour it aswell.
EURJPY retracement over and upmove resumption
The EURJPY has resumed its upmove after making a retracement to fib 61.8 retracement level as indicated in the graph. Incidentaly the 61.8 retracement level also coincides with the heavy support zone for the pair. expect the pair to scale above 141 level if the 138 level were to hold.
USD Bull Run To Continue
The pair had made a triple top around 105.4x level since then the pair had corrected and consolidated sideways to positive and the pair has closed above the previously held high close on weekly charts. The pair is expected to further gain momentum once it closes above the 105.5 levels, the momentum should take he pair past 106.4X levels in the near term. A break out of the triple top is a very strong bullish sign for the pair.
GBPUSD Bullish!!!
The GBPUSD has decisively broken the multi month high, and the momentum indicates the pair is looking to scale higher highs and est 1.8 level in the coming month. Once he immediate resistance around the 1.72 level the pair would be taken up by fresh buying and short covering. of the resistance were to hold then we could expect a consolidation in the coming weeks, but the momentum indicators are pointing to a strong move above 1.72. any pull back in the apir could be used as a good entry for lon…
USDJPY Bullish
The USDJPY pair seems to be bullish on the 4 hour charts and might test the 102.75 level breaking which it can retest the 105.4 levels again. The pair has consolidated for weeks in a narrow band of 100.5 - 103 levels. There is a strong case for the bulls to take charge and resume the bull move sooner than later. traders can look to enter 102.1X level with a stop loss around 100.4 level with a target of 103.2 in the short span in a few days and if you are ready to hold your position for a weeks i…
GBPUSD - Correction Mode
Its been bull all the way ever since i made a double bottom around the 1.48X level for the pair. The pair after failling to breach the 1.66 level multiple times its looking to correct from the bull run it had so far. Incidentally the pair has also made a head and shoulders pattern which is bearish coupled with the correction and going by the fib retracement, on break of 1.62298 the pair should be testing 38.2% retracement level around 1.596 level. the 1.6229 - 1.6303 level will be a demand zon…
EURJPY - Broken 61.8 retracement level in weekly chart
The EURJPY pair has broken down the 61.8% retracement level after scaling to the new high of 145.68, signaling a strong sell on the pair with a stop loss around 137.7 in case if it is a false break out. The pair has been under imense pressure from supply side ever since the pair scaled the weekly high, ever since the pair has been decline every week. The momentum is likely to continue and may push the pair towards. 131.2 level. The continued weakness in USDJPY pair and the weakness in EUR shoul…
EURUSD - Bears in control
After many attempts in trying to break and stay above the 1.38X level the pair has finally lost its steam and has given itself into the hands of the bears. The fib retracement level suggest there is a lot more room for the downside in this pair. The pair's first stop is mostly likely around 1.32 level at 38.2 fib retracement in the coming week(s) and likely to test the heavy support and supply zone around 1.28X level at a 61.8 fib retracment on the weekly charts. Ideal entry around 1.35 level s…