03 Aug Weekly Forex Technical Analysis & Chart Review ( 3rd – 7th August 2020)
Forex Weekly Technical Analysis
GBPUSD in a technical area of confluence, a retrenchment to the .618 Fibonacci is likely.Points to consider,- Local trend swing high- Equal highs ( Liquidity grab)- Local support confluence (.618 Fibonacci)- Oscillators overextended- Volume increasing GBPUSD is testing a key level with equal highs. This increases the probability of a liquidity grab.Local support is the immediate target which is in confluence with the .618 Fibonacci. A retest and respect of this area will establish an S/R Flip.Both oscillators are over extended which is a sign that the market is overbought and due for a retrace. There is a clear influx of volume , this solidifies that GBPUSD is at a key pivot , follow through will fuel the direction. You can join our with paid signal channel on Telegram we have been the most consistent reliable Forex Signals service in world. Join us and change your life. If you want daily profit then you can join with us and get 90% profitable trade always. For more info about our paid group > inbox us or select our service package Click here Forex Signal, Forex Trading , Forex Best Signal Provide
AUDNZD Still bullish and this pair try to touch Next Resistance level 1.08600 zone.You can join our with paid signal channel on Telegram we have been the most consistent reliable Forex Signals service in world. Join us and change your life.
GOLD has been flying non-stop since few weeks ago, but now, we can see that the momentum is started to be weaker in 4H time frame (as chart). However, in COT report, HF have started to close long position in bullish market, this can be interpreted that HF are starting to take profit in this bullish market and they have opened few short position.
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