GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
Stock market: has Cisco reached a limit?
Trade ideas
SELL 55.95; TP 54.90; SL 56.15
BUY 57.20; TP 58.00; SL 57.00
The stock of Cisco formed a doji “shooting star” candlestick on the weekly chart. The price has been rising for 4 months in a row and is now at the all-time highs. It gained more than 40% since the last year’s corrective bottom. Obviously, the stock is now expensive, and investors may decide to take profit.
The daily chart shows that the pair formed a lower high. The decline below 56.00 will lead to a “double top” and open the way down to 54.85. On the other hand, an advance above 57.15 is needed to resume the uptrend with the target at 58.00.
The near-term downside looks more likely. In the longer term, Cisco represents a way to bet on a promising 5G market and thus remains attractive, so traders may look for buy opportunities at lower levels.
Notice that to trade stocks with FBS you need to open an MT5 account in your personal area.
Elizabeth Belugina
Similar
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
Latest news
GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
The USD/CAD on a bullish reversal
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Deposit with your local payment systems
