The pair is breaking out of the smaller degree downtrend which was inside a channel, this signals that the corrective structure following the BREXIT impulse is not complete yet so we may be getting another up lag presenting a nice opportunity to long the pair after confirmation.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit thepiphunter.com and subscribe.
Comentário
⋅
off we go
Comentários
mlbo
⋅
good luck to all.
Dabrowski.Alan
⋅
Buy him now ?
piphunters
⋅
FOMC coming up, currently looks more bearish, it can send the pair to new lows
piptamil
⋅
can we go long now??
piphunters
⋅
if you are ok with around 100 pip draw down yes, I would wait.
fxfxfx
⋅
Target 134 area?
piptamil
⋅
thanks
DerekUweri71
⋅
Hi PipHunter,
I like your analysis but I think price will consolidate at the 131.30 level until the UK Economic data is released this morning. We have the Claimant Count Change and Average Earnings Index at 9.30 gmt and this will determine whether this is a breakout or just an overshoot of the channel. The data will set the direction for £Y. What do you think? Are you already in this trade?
piphunters
⋅
no, will wait for FOMC before any positions, also I don't enter without a confirmation
DerekUweri71
⋅
I agree, the volume is very low at the moment because of FOMC, market in a tight range.