Overview: Pivot point: 1.3042.The GBP/USD pair traded above strong support at the level of 1.3011, which coincides with the 23.6.2% Fibonacci retracement level and 1.2961. This support has been rejected for four times confirming uptrend veracity. Maj…
In December, the depicted bullish channel was initiated around 1.1000 allowing another bullish breakout above 1.1110 to pursue towards 1.1175.Initial Intraday bearish rejection was expected around the price levels of (1.1175).On December 20, bearish in…
On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the newly-established bullish channel.On the period between December 18 – 23, bearish breakout below the depicted channel followed by…
At the beginning of the trading week, the GBP / USD pair is under pressure from the “bears”, which is reflected in a gradual movement to our target levels, formed by strategic goals. However, at the moment, support to the “bulls” is provided by the lev…
The confident pace of the US dollar and Beijing’s assurances that it will win the coronavirus somewhat cooled the ardor of the “bulls” for XAU/USD, however, it did not sow panic in their ranks. The peak of the epidemic has not yet been reached, and the…
As I already wrote, USD / CAD always makes me very happy. This week, the pair is still working out the forecast 100%, which, of course, pleases me even more !!! Expect a test of the strategic level in the area of 1.3060. I described it in more detail in the current forecast …
“Everyone chooses their own path. And the more obvious the goal, the easier the path.”
Good morning, dear colleagues.
With you, as always, Sergey Denisov and the forecast for the likely movement of the USD / CAD currency instrument.
Let me remind you that this forecast is derived from the main long-term forecast for USD / CAD USD / CAD. Forecast and strategic level (goal), the development of which, at times, is at the level of 95% !!!, and it serves to ensure that we are with you every day, step by step, moving towards our “cherished goal “- towards profit!
During the trading session on Tuesday, January 28, 2020, USD / CAD completed the task at least 100%: a few hours after the opening of the trading day, the US dollar was already testing the level of the 32nd figure (1.3200), where clusters of high open interest were located, and the large volume of traded options contracts were on CALL. It can tell us about the “smart money” that would not mind buying futures for a decline in the US currency – they “enclosed” the CALL options in the data we see.
The trading plan for the main long-term forecast remains in effect until your humble servant cancels it for a number of reasons, which, of course, I will tell you in as much detail as possible.
At this stage, I see no reason to cancel the goal, but to cancel the scenario, which I will write a little below and show on the chart. It is quite realistic, but for this, you need an impulse update of the level of 1.3200, and its successful testing.
In this case, the scenario will be as follows: testing the level of 1.3260 with a further fall to the level of 1.3060. As you can see, the goal remains the same, only the “road” that we will take to reach it will change.
The plan is as follows: we are going to test the strategic level in the area of 1.3060. Not only is this level strategic, but there is still a large open interest in “smart money”.
It seems difficult? No! In future articles, every day, we will touch on the topic “using the tools that I predict the price movement”, as well as “my favorite patterns”. Moreso, later, if you, dear colleagues, have a desire to get answers to your questions about my forecasts, I will be very happy to hold a webinar for you!
Dear colleagues, please follow the publication of “derivative” forecasts for USD/CAD during the entire period of relevance of the main long-term forecast, so that you would not miss anything important and eventually get a profit!
IMPORTANT! Remember that you should enter the market only using patterns – graphic figures that are often repeated on the market, where as a result of their formation, there is a certain pattern of price behavior in the future.
In my trading, I use patterns consisting of candlestick analysis and volume analysis. One of my favorite patterns is updating the local highs on a sharply rising volume, with subsequent testing up to 50%-61.8% Fibo.
Thank you for your attention, dear friends.
The material has been provided by InstaForex Company – www.instaforex.com