Weekly Forex Forecast (April 22 – 26 April-2019)

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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GBPJPY: Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.

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.
Pipsmake Team