Trading news

GBP/JPY Bearish M pattern but bullish price action



The dragon, GBP/JPY shows a huge M pattern on H1 time frame, but there are lack of sellers who could tank the price more to the downside. DAX has been bullish today despite problem with Deutsche Bank (DB). DAX had a massive gap down to start with and DB is down 4 % today. Only EU 13.9BN now of worth with a USD 14BN claim makes DB technically insolvent, and DAX might lose momentum to the upside that could reflect also on GBP/JPY pair that has a very high positive correlation with DAX.
Technically because we have 2 contradicting patterns we ideally want to see breakout. Above 131.45 there is a strong scope for 131.92 and 132.20, but if 131.45 rejects the price we might see 130.90 again. Below 130.90, 130.45 and 130.00 are targets. No man's land in between.

Friday, 30 Sep, 2016 / 1:27

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/

Trading news

 

GBPUSD On Track To Settle Above 1.3700

The British pound sterling continues to keep a bullish hold. After failing to [...]

Posted on Friday, 22 Jan, 2021 / 12:08 under

Crude Holds Near Highs

The crude market saw a much quieter period of trading this week. Price [...]

Posted on Friday, 22 Jan, 2021 / 12:07 under

Biden To Push Through Stimulus Aid

Greenback Fades as Bears Take Control The US index dropped towards the 90 [...]

Posted on Friday, 22 Jan, 2021 / 12:06 under