Weekly Technical Analysis – [Bonus Video]

Posted On 25 Oct 2015
By :
Tag: ,

Weekly Bonus Analysis Video: GBPUSD and USDCAD (5 min 01 sec)

TEXT:
Hello everybody ..welcome to our Weekly Bonus Analysis Video ..I’m Stef Breschi and today is Sunday 25th October 2015Today we’ll be looking at Sterling where we took profit last week in a successful trade and USD Canada ….…the rest of the markets will be analyzed for the privilege of our STTS Subscribers only.GBPUSD

(Daily Chart) as you know we had positioned ourselves for a rally in this pair after the potential double bottom had formed having gone Long earlier this month in the 1.5215-1.5230 area and then again at 1.5360 with Stops below 1.5180 at first and later at 1.5195. Our targets were 1.5650 and above.

We took most of the position off at 1.5475 as we saw selling pressure coming in above that level and after last Thursday’s pin bar we decided to take the remainder off. The market now could retreat all the way to 1.5107-151.30

(zooming in) Friday’s close was at the 50 Fib level of the recent bounce. If this level doesn’t hold as support next week and we close below it, we are likely to then see a push down to 1. 5107-151.30.

USDCAD

(Daily Chart) last week we hinted that we thought we may see a bounce off 1.2870 and might  go Long in half risk but would ultimately favour a retracement anywhere near the 50 sma to sell into, mostly because we saw the market gravitate to 1.2690 and the 200 sma which coincide with the 50 fib of the big rally.

We did get a bounce off the 38.2 Fib in the end and we failed to get involved. Next week we will be watching this key 50 sma level to see if we get an upside breakout with a re-test as support and go Long with 1.3350 and above as target or if we get a fake breakout and a resumption to the downside towards our original target of 1.2690.Thank you for watching .. please take a look at our subscription service STTS (Short Term Trade Setups) which covers also other major currencies and other markets which we are likely to trading and includes entry levels, stops and targets combined with our tried and tested risk management strategy.

Come and find us on tff-onlinetrading/market analysis

Have a great week


DISCLAIMER
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Users acknowledge and agree to the fact that, by its very nature, any investment in CFDs and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
Any recommendation, opinion or advice contained in such material reflects the views of TFF, and TFF expressly disclaims any responsibility for any decisions or for the suitability of any security or transaction based on it. Specifically, any decisions you may make to buy, sell or hold a security based on such research will be entirely your own and not in any way deemed to be endorsed or influenced by or attributed to TFF.
Past performance should not be seen as an indication of future performance. Market and exchange rate movements may cause the value of your investment to rise or fall and an investor may not get back the amount invested.
Eligibility for participation in the capital pool is subject to final determination and acceptance by TFF.
Investments are not obligations of, deposits in, insured or guaranteed by TFF.
About the Author
TFF aims to provide our customers with the best skills and knowledge to achieve their personal financial goals and level the playing field. The senior officials and staff of the TFF Team have more than 80 years experience in financial product trading, sales and fund management. For more information on TFF CLICK HERE.

Related Posts

Leave a Reply

*