- Price fell and bounced back up again for the fourth time off the lower daily trendline.
- Commercials increased their long positions again and Spec shorts are quite high also.
- There is clear run now till the end of the month in terms of central bank meetings (FED and BOE) so I favour a further push up before August.
- Price currently bouncing off the 4HR 20 EMA, look for intraday buy setup should price stay above the 1.2450 – 70 area.
- Price hit Monthly S2 and we might start to see a potential Weekly Phase 2.
- Look for intraday buy setups in the blue zone.
- We saw a false breakout last week and price fell back in the long-term channel.
- Look for intraday sell setups all this week.
- Buy GBPUSD & GBPCAD above the levels mentioned in the analysis.
- Looking for selling opportunities on EURGBP.
- Look for buying opportunities with AUDUSD and NZDUSD.
- We are also looking for buying opportunities with AUDCAD, NZDCAD, AUDCHF and NZDCHF.