GBP/USD is welcoming a pinbar

GBP/USD is welcoming a pinbar


BUY 1.4005

SL 1.3950

TP1 1.4105 TP2 1.425 TP3 1.46

On the daily chart, GBP/USD bull managed to defend support at 1.3830-1.3835. As a result, the pair formed a pinbar. A successful test of its high will allow the pound to count on the uptrend’s resumption.  


On H1, GBP/USD keeps forming 1-2-3 and “Spike with reversal and acceleration”. To break the uptrend, bears need to pull the pair out of the trading channel and reach 88.6% target of the “Bat”. The odds of this scenario are not high.





USD/JPY: new lows of the Dollar

Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

AUD/USD: aussie in consolidation

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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