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20.06.201611:57 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for GBP/USD for June 20, 2016

Long-term review
Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

Exchange Rates 20.06.2016 analysis

Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market.

However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470), which allowed further bearish decline to occur.

The prominent demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection on February 26.

As expected, an evident bullish recovery and a bullish engulfing weekly candlestick were expressed around 1.3845 (prominent weekly demand level) where a significant bullish swing was initiated on March 1.

On the other hand, the price zone of 1.4475-1.4670 has been standing as a significant supply zone during the past few weeks.

Hence, significant bearish rejection and a strong bearish weekly candlesticks were executed around the upper limit of it (1.4670 level) for many successive weeks.

As long as the GBP/USD pair keeps trading below the levels of 1.4670 and 1.4480, next bearish destinations will be located at 1.4100, 1.4050, and probably 1.3900.

Otherwise, further bullish advancement should be expected towards 1.4950.

Exchange Rates 20.06.2016 analysis

The price zone of 1.4670-1.4700 (61.8% Fibonacci level and the depicted downtrend line) stood as a significant supply zone which offered many valid SELL opportunities over the past few weeks.

Daily persistence below the level of 1.4470 enhanced further bearish decline towards 1.4350, 1.4220, and 1.4040.

As anticipated, the depicted demand level around 1.4040 offered a profitable BUY entry. It's already running in profits Today.

Currently, the price zone between 1.4670-1.4700 (61.8% Fibonacci level) should be watched for another valid SELL entry if significant bearish rejection is expressed.

Bearish persistence below 1.4470 will needed to enhance further bearish decline towards 1.4200 and 1.4050. Otherwise, the bearish scenario will be invalidated for sometime.

On the other hand, bullish persistence above 1.4670-1.4700 allows further bullish advancement towards 1.4950.

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