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May 28, 2020

GBPUSD Entry Techniques Explained in Real Time

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
May 28, 2020

Market Update – May 28

GBPUSD erased most of yesterday’s rally but I remain constructive. In fact, price found support near the short term trendline that originates at the 5/18 low. I want to see strength above 1.2300 (blue line) before committing capital to the upside again though. In general, this level has been support and resistance for a little over a month.
May 27, 2020

Market Update – May 27

USDOLLAR found resistance at the cited level (recovery high was 12536) and broke down today. Individual USD crosses nailed their supports as well (see levels noted below from last week). My wave count interpretation is that weakness from the 5/18 high is either a 3rd or C wave so downside potential is significant in the coming weeks and months.
May 20, 2020

Major GBPUSD Bullish Setup!

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.
May 20, 2020

Market Update – May 20

Resistance came in slightly higher than thought for GBPUSD but the idea remains the same. Proposed support for long entry is 1.2160/90s. The bottom of the zone is the 61.8% retrace of this week’s rally and 4/6 low. The top of the zone is VWAP from this week’s low (see hourly futures chart 2 charts down). Additional bullish evidence includes a daily volume reversal yesterday (see daily futures chart below). The last daily volume reversal was in January 2017, which was an important low. Also, don’t forget seasonal tendencies are now bullish. Elliott structure suggests that the rally from this week’s low is either a C wave or 3rd wave, so upside potential is significant.
May 18, 2020

Market Update – May 18

The downside remains favored in AUDUSD towards the .6250s. The former 4th wave low is .6254 and VWAP from the March low is currently .6249. This is also the lower parallel of the bearish fork from the high. If AUDUSD is bearish then resistance should be about .6460, which is the underside of the line off of the 4/21 and 5/6 lows and VWAP from the April high. Seasonal tendencies are bearish for the next few weeks (see below).
May 15, 2020

Market Update – May 15

The chart of spot gold is cleaner show I’m showing it instead of futures. Price broke out of the triangle described yesterday. That’s bullish! The top side of the former triangle line should be support now near 1720/22 (former highs at 1722).
May 14, 2020

GBP/USD Sinks Amid Bleak Economic Outlook

The British pound fell to its lowest levels against the US dollar since April 7th in early trading on Thursday. Grim GDP data resulting from the coronavirus lockdown weighed on sterling, while the dollar was lifted by dismissive comments on negative interest rates by Federal Reserve chairman Jerome Powell.
May 11, 2020

Market Update – May 11

Since reaching the long term parallel (magenta line) on 4/13, gold has traded sideways. Price rolled over last week from short term trendline resistance so be aware of the lower boundary near 1683. A break below there would leave price action since 4/13 as a consolidation top. Immediate downside focus would then be the 3/31 low at 1576.
gdpr-image
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