#GBPUSD Head and Shoulders

Looking at the potential head and shoulders formation some interaction can be expected around 1.6160-1.6155 level, depending how the situation developes we will be looking for a short position at this level. If the level gets defended we will look for a long position to joint the up trend.

#EURUSD - 5th Elloitt wave on D1?

After strong move to the upside on Tuesday EURUSD had problem to break through 1.3790. Yesterday that level was defeated, but EURUSD started to consolidate a step higher between 1.3790 and 1.3830. Expectations of deeper correction of a move from 1.2720 are growing. From daily time frame you can notice that the move from 1.3500 – 1.3830 can be seen as a 5th Elliott wave. We will look here to open a longer term swing trade position expecting start of correction. As far as our day trading strategy goes we will look for short @ 1.3830 for a 20 pips profit, or a short position @ around 1.3790 after seeing meaningful break through that level and a trendline (entry on retracement to 1.3790).

#GBPUSD expecting long possition.

Yesterday during both sessions we could see how GBPUSD was trying to  break 1.6162 level and go down. Now when that level is defended we’ll be looking for a  long possition at 1.6175-1.6180 level, eventually at 1.6160-1.6165 level. On the other hand 1.6255-1.6260 level will be good to open short possition. SL 10-15, TP 25-30 pips.

#GBPUSD waiting for setup.

Once the 1.6162 level is significanly  broken we will be looking for a short position from that level, otherwhise long  a bit below 1.6114. SL 10-15 and TP 20-30 pips.

#EURUSD break out or fake out?

EURUSD broke out to the upside in early european session. Looking for a long trade on the retracement at 1.3790. If this level will not hold we expect downward move towards yesterday’s lows (1.3740-50). After significant break of 1.3790 – take a short trade on retracement to trendline and 1.3790 level.

#GBPUSD looking for long position.

After yesterday's drop down GBPUSD defended 1.6114. Today we expect the currency will try to break 1.6156. In this situation we will be looking for a long position at 1.6180-1.6185 and if  1.6224 level will not get broken on the first attepmt again we should see possibility for another long position at the same level (1.6180-1.6185). On the other hand if 1.6224 will be defeated we will look to take short position at 1.6257-1.6262 level.

EURUSD – after quick move to recent tops: Short @ 1.3790 – if broken – Long on @ this level on the retracement. Other level to watch – 1.3765-1.3770. REMEMBER about good money management strategy. 

Short from 1.3790 - TP taken +22 pips.