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Ian Coleman - First 4 Trading
Ian Coleman of First4Trading.net explains in a technical analysis of charts why he is trading EURUSD. Coleman is looking to sell EURUSD at 1.1660 with a stop at 1.1690. His target is 1.1565.
Medium term
/
Buy
Trade view / 17 July 2017 at 6:50 GMT

GBPUSD breaks reverse Head and Shoulders to the upside

Analyst / PIA First
United Kingdom
Instrument: GBPUSD
Price target: 1.3252
Market price: 1.3083
Background

GBPUSD has broken out of the triangle formation to the upside. The measured move target is 1.3252. What was resistance (18 May high-trade) now becomes support at 1.3046. Fridays Marabuzo level is at 1.3020.

Monthly – Moved higher from the Fibonacci confluence area at 1.1392-1.1592. Dips continue to find buyers. Prime resistance (last swing low) is at 1.3501
GBPUSD M
Source: Saxo Bank

Weekly – We look for a bearish Elliott Wave count (5 waves) to now be complete. Holding within the weekly Ichimoku Cloud. This sometimes results in mixed results on the daily chart. 
GBPUSD W
Source: Saxo Bank

Daily – Broken out of the triangle formation to the upside. The measured move target is 1.3252. What was resistance (18th May high-trade) now becomes support at 1.3046. Fridays Marabuzo level is at 1.3020. This is our support ‘zone’ 
GBPUSD W
Source: Saxo Bank

Intraday (four-hours) – Broken out of the Head and Shoulders formation to the upside after continued buying from levels close to the 50% Fibonacci level of 1.2808. A re-test of the breakout level is at 1.3023. The measured move target for this formation is 1.3470 (close to monthly resistance)
GBPUSD 4 Source: Saxo Bank 

Management and risk description

Parameters

Entry: Buying at 1.3040-1.3020 zone

Stop: 1.2990

Target: 1.3250 and 1.3470

Time horizon: medium-term 

— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
17 July
h.alfayyad h.alfayyad
.
17 July
seas seas
I think we double down here at 130.70, support at 130.555
17 July
seas seas
Rejected the 89.

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