EUR/USD Weekly, Daily and 4-Hours Analysis

EUR/USD (EU) is currently reached at two significant lines, resistance 1 and downtrend line. EU is above ichi cloud suggest the bullish trend still intact. Believe that trader may sell for partial profit while hold some open trade for long term target at Resistance 2. Refer chart below.

While the daily chart  suggest the same things as weekly chart. EU still above ichi cloud and Tenkan Sen (TS) is above Kijun Sen (KS).

4H chart shows EU is testing the the Resistance 1. EU is above Ichi Cloud suggest price still bullish at 4H time frame.

Trade Idea : No new trade should be taken until EU rebound from pullback or EU breakout the Resistance 1.

GBP/JPY Weekly Analysis

Long term bearish trend is weak as the price touch the ichi cloud. The current price is at previous resistance level. An indication of price testing the resistance.

Trade idea:
Look for daily and 4hr chart for the pullback. Don't trade until we see a pullback.

GBP/JPY Daily Chart :-
The price highest level already broke the previous high. This will shows the bullish trend has started. Price is above ichi cloud.Refer chart below.

 

4H chart below shows price already above ichi cloud. Trader should wait for pullback as price reached the resistance level. Many trader will sell at this point. Price correction is expected to happen next week.

See ya next week fellas...