GBP/USD Analysis 9/10/19

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GBPUSD Overview 9/10/19

We are looking for GBPUSD to reach the previous wick rejection and drop a little bit.
Previous wick rejection: 1.23856
Drop to : 1.23181
64 pips
Entry for buy is Sell TP @ 1.23181 and should break to the upside For a buy of 198 pips to 1.25169
We are seeing an uptrend on GBPUSD on higher time frames. Getting a good entry on both moves will allow trades to be made both in pull backs and impulse moves up.
Total pip count: 262 pips

Michael Franz

Michael Franz is the beginner’s educator. He specializes in teaching the basics and making sure students have the knowledge they need to understand what happens in Advanced Technical Analysis.

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EUR/JPY Analysis 8/12/19

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EUR/JPY Analysis 8/12/19

Over the past couple weeks we have seen JPY pairs drop heavily. I see that trend continuing.
On the 4hr chart: We see a bearish channel that is fairly strong. Using the trend line (black) we see multiple touches to attempt to break but that never happened. By looking at it with just the trend line, one would think it needs to come up and retest again. By looking at the Ray (Red line) we see that the price was broken from a tested price back in January 2019 (Elipse). That would be a support line that was broken. I feel we will see it come up to the price again since it broke (118.611) and then reject back down to continue the sell opportunity.

The Daily chart: We will see there was a massive Double top on the daily and our next major price points to sell too. The Neckline (Black line would be a good price as a take profit and if it breaks, we see a daily support back from 2012 that could be tested.

Michael Franz

Michael Franz is the beginner’s educator. He specializes in teaching the basics and making sure students have the knowledge they need to understand what happens in Advanced Technical Analysis.

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GBP/CHF Overview 7/31/19

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GBP/CHF Overview 7/31/19

With the Great British Pound being so weak, This pair has been in a free fall since May 2019. To see the tested prices the chart is at now, you have to use the daily chart and look back to 2016. Currently with Brexit still having a "no-deal" even with a new Prime Minister, GBP should continue to slide. the next price to test was a candle rejection and could shoot up from there, the fall from current price to 1.19041 is a total of 171 pips. IF it continues to fall after that, we are looking at the last wick rejection in October 2016 and that price is 1.16485 for 4242 pips. A good entry price for this pair currently could be 1.20804. If a Brexit deal comes about, we could see this start to pick up and move bullish so let's see what happens.

Michael Franz

Michael Franz is the beginner’s educator. He specializes in teaching the basics and making sure students have the knowledge they need to understand what happens in Advanced Technical Analysis.

ALL AUTHOR POSTS