21 Apr Weekly Forex Forecast (April 22 – 26 April-2019)
GBPUSD : During the last 3-4 weeks, we have been seeing a subdued price action on GBPUSD due to lack of any Brexit related Headlines or meaningful progress.
However, looking at the H4 chart, you can clearly identify three things:
1) A DESCENDING TRIANGLE indicated by the light pink area in the chart.
2) A strong resistance trend line (royal blue line) which has stopped the rallies in GU multiple times.
3) A support zone (yellow rectangle ) which is VERY STRONG. It has managed to stop the fall 6 times.
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NZDUSD After the price dropped, it makes a correction. If the price rally to recent resistance set short setup there.
EURUSD In weekly Pattern already makes morning start in low zone so we can find a long buy here.
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Good luck Traders.