GBP/JPY Performed a Double Bottom After MACD Divergence

[The5ersTF]

The price has performed a double bottom pattern on the D1 chart,
Also, while the price created the double bottom the MACD created a higher low, which's called MACD divergence.
The combination of double bottom and MACD divergence creates a great setup for buy position.
If the price will break the resistance above I'll look for a buy signal,
If the price will move down toward the demand below I'll buy at the demand,
For both options, the target will be the resistance at the top

 

[J20]

View attachment 267718
The price has performed a double bottom pattern on the D1 chart,
Also, while the price created the double bottom the MACD created a higher low, which's called MACD divergence.
The combination of double bottom and MACD divergence creates a great setup for buy position.
If the price will break the resistance above I'll look for a buy signal,
If the price will move down toward the demand below I'll buy at the demand,
For both options, the target will be the resistance at the top

I actually need some help why is it that with the M A C D indicators that when you change the time period chat for example from five minutes to thirty minutes to signal him in a MACD lines change as well which direction should we be looking at 5 or 30 min

 

[fxstrategist]

The GBPJPY is in a well defined range between the 132,00 as support and the 135,00 has resistencia. The price may break in any direction, but it is currently trying to break below the 132,00 level.

 

[The5ersTF]

Weekly Trade Idea For NZD/USD Week: 23-27.11.2020

Key event: NZD. RBNZ’s Governor speech

The Reserve Bank uses monetary policy to maintain price stability and to keep inflation between 1 and 3 percent on average over the medium term. The Bank implements monetary policy by setting the Official Cash Rate, which is reviewed eight times a year.

Hints of rising interest rates strengthen the currency.

Until the speech, we expect prices to range in the actual supply zone. The speech will surely cause a break of the zone either to the next supply zone or back to support levels.​

Key Levels:​

• Resistance 0.6940, 0.7050
• Support 0.6780

Trend :

Bullish

Price is ranging in the supply zone between 0.6940 and 0.6890 levels. The speech will likely cause a breakout of the range.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Either a retracement to previous support or a breakup of the supply zone.

 

[FXX]

policy won't change, it will likely be a non-event.

 

[The5ersTF]

Price is breaking up and working nicely.

 

[The5ersTF]

Weekly trade idea for USD/CAD
Week: 7-11.12.2020
Key event: CAD. Interest Rate

The interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.

887×37​

Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse the actual trend direction.​

Key Levels:​

• Resistance 1.2966, 1.3140
• Support 1.2546, 1.2256

Trend:

Bearish

Last week, Price broke important support levels. It is now dropping towards the next support levels.

Call to Action/Trade Idea
We will look for any opportunity to join the bearish trend. Any retracement or pullback. Only an unexpected important negative release might overturn the actual trend.

 

[The5ersTF]

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[The5ersTF]

Weekly trade idea for EUR/USD
Week: 14-18.12.2020
Key event: USD. Interest Rate

Interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.

835×26​

Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.​

Key Levels:​

• Resistance 1.2175, 1.2230
• Support 1.2000, 1.1875

Trend:

Bullish

Two weeks ago, the price broke important resistance levels. It is now trading in a range close to a supply area.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.




EUR_USD (4)1707×744 39.7 KB

 

[The5ersTF]

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[The5ersTF]

Weekly trade idea for EUR/USD
Week: 21-25.12.2020
Key event: USD. GDP

The Gross Domestic Product Annualized shows the monetary value of all the goods, services, and structures produced within a country in a given period of time. Is a gross measure of market activity because it indicates the pace at which a country’s economy is growing or decreasing.

We expect a similar reading to the previous one.

838×30​

Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.

Key Levels:​

• Resistance 1.2280, 1.2400
• Support 1.2175, 1.2000

Trend EUR/USD:

Bullish

Last week, the price broke important resistance levels. It is now in an expansionary bullish phase.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.


EUR_USD (5)1707×760 18.7 KB

 

[The5ersTF]

Weekly trade idea on EUR/USD. NFP​

Week: 4-8.01.2020​

Key event: USD. Non-Farm Payroll​

The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.

We expect a lower reading than the previous month.

840×29​

Until Friday, we can expect a weakening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies.

Key Levels:

• Resistance 1.2300, 1.2400
• Support 1.2150, 1.2070, 1.2000

Trend EUR/USD:​

Bullish

Price is testing 1.2300 resistance. Last week, the price closed with a bearish engulfing candlestick and MACD divergence.

Call to Action/Trade Idea​

We will look for any opportunity to join the bullish trend. Given the divergence, we might see a retracement to support levels. From there we will look for buying opportunities.


EUR_USD (6)1707×760 64 KB

 

[The5ersTF]

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[The5ersTF]

Weekly trade idea on EUR/USD​

Week: 11-15.01.2021​

Key event: USD. Retail Sales​

The measure of the total receipts of retail stores. Changes in Retail Sales are widely followed as an indicator of consumer spending.

We expect slightly better data than last month.

884×83​

Until Friday, we can expect a little strengthening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies. This data will not likely change the actual bearish trend for the USD.

Key Levels:​

• Resistance 1.2300, 1.2400
• Support 1.2150, 1.2070, 1.2000

Trend EUR/USD:​

Bullish

The price tested 1.2300 resistance level. Last week, the price closed with a bearish correction, approaching important support levels.

Call to Action/Trade Idea​

We will look for any opportunity to join the bullish trend. We might see a retracement to support levels. From there we will look for buying opportunities.




EUR_USD (1)1067×401 20.6 KB

 

[The5ersTF]

Weekly trade idea on USD/CAD​

Week: 18-22.01.2021​

Key event: CAD. Interest Rate​

The interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.

887×37​

Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse the actual trend direction.

Key Levels:​

• Resistance 1.2800, 1.2900
• Support 1.2635, 1.2530

Trend USD/CAD:​

Bearish

Last week, Price broke important support levels and closed with a bullish engulfing candlestick. We can expect some bullish pressure or consolidation at the beginning of next week.

Call to Action/Trade Idea​

We will look for any opportunity to join the bearish trend. Any retracement or pullback. Only an unexpected important negative release might overturn the actual bearish trend.

 

[The5ersTF]

Weekly trade idea on EUR/USD Week: 25-29.01.2021​

Key event: USD. Interest Rate​

The interest rate at which major financial institutions borrow and lend overnight funds between themselves;

We expect a similar reading to the previous month.

835×26​

Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.

Key Levels:​

• Resistance 1.2300
• Support 1.2070, 1.2000

Trend EUR/USD​

Bullish

Price reacted to 1.2300 key resistance level and it is ranging now between 1.2070 and 1.2300.

Call to Action/Trade Idea​

We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.




EUR_USD (2)1058×401 19.2 KB

 

[The5ersTF]

Weekly Trade Idea for EUR/USD
Week: 1-5.02.2021
Key event: USD. Non-Farm Payroll

The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.

We expect a higher reading than the previous month.

886×43​

Until Friday, we can expect a light strengthening of the USD against other currencies. It would require a very positive surprising release for the USD to really strengthen against other currencies.

Key Levels:​

• Resistance 1.2300, 1.2400
• Support 1.2070, 1.2000

Trend EUR/USD:

Bullish/Neutral

Price is ranging between 1.2300 and 1.2070. Last week, the price closed near support with a rejection of them.

Call to Action/Trade Idea

We will look for any opportunity to join the bullish trend. We might see a retracement to 1.2000 support levels. From there we will look for buying opportunities.

 

[The5ersTF]

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[The5ersTF]

Weekly Trade Idea on GBP/USD​

Week: 8-12.02.2021​

Key event: GBP. Gross Domestic Product​

The GDP is considered as a broad measure of the UK economic activity. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative.

We expect a similar reading to the previous month.

880×37​

We do not expect this announcement to be relevant for the behavior of the GBP against other currencies during the week. More likely the technicals will be predominant. Only a very unexpected final data would affect the price action.

Key Levels:​

• Resistance 1.3750
• Support 1.3620, 1.3480

Trend GBP/USD:​

Bullish

Price closed last week at resistance, after an aggressive rejection of support and creating a very clear demand area visible on the 1h timeframe.

Call to Action/Trade Idea​

We will look for any opportunity to join the bullish trend. We might see a breakout of actual resistance or a pullback to the last formed demand zone.


gbpusdidea1765×740 54.8 KB

 

[The5ersTF]

Weekly trade idea on GBP/USD​

Week: 15-19.02.2021​

Key event: GBP. PMI​

Indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

We expect a similar reading to the previous month.

845×28​

We do not expect this announcement to be relevant for the behavior of the GBP against other currencies during the week. More likely the technicals will be predominant. Only a very unexpected final data would affect the price action.

Key Levels:​

• Resistance 1.3900, 1.3950
• Support 1.3750

Trend GBP/USD:​

Bullish

Price broke last week the 1.3750 resistance and closed with an important bullish candle. It is heading now towards the next resistance levels.

Call to Action/Trade Idea​

We will look for any opportunity to join the bullish trend with a target on the next resistance levels. The previous resistance level is now important support.