OctaFX Analytics

2021-07-20 09:59:24 TRADING IDEA
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Trading system - AUTOCHARTIST

#GBPCAD

Target Level: 1.7334
Target Period: 2 days
Interval: 1 hour
Pattern: Channel Up

Channel Up identified at 20-Jul-00:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.7334 within the next 2 days. Open / Comment

2021-07-20 09:58:06 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURJPY

Target Level: 130.2780
Target Period: 2 days
Interval: 1 hour
Pattern: Channel Down

Channel Down identified at 20-Jul-02:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 130.2780 within the next 2 days. Open / Comment

2021-07-20 09:56:08 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCAD

Target Level: 1.2807
Target Period: 18 hours
Interval: 1 hour
Pattern: Channel Up

Channel Up identified at 20-Jul-08:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.2807 within the next 18 hours.
Supported by Upward sloping Moving Average Open / Comment

2021-07-20 09:54:22 TRADING IDEA
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Trading system - AUTOCHARTIST

#USDCHF

Target Level: 0.9221
Target Period: day
Interval: 4 hour
Pattern: Rising Wedge

Rising Wedge identified at 20-Jul-08:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 0.9221 within the next day.
Supported by Upward sloping Moving Average Open / Comment

2021-07-20 09:51:51 TRADING IDEA
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Trading system - AUTOCHARTIST

#EURUSD

Target Level: 1.1764
Target Period: day
Interval: 4 hour
Pattern: Falling Wedge

Falling Wedge identified at 20-Jul-08:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.1764 within the next day.
Supported by Downward sloping Moving Average Open / Comment

2021-07-20 07:00:12 TODAY’S HIGHLIGHTS

PBoC Interest Rate Decision, China
Producer Price Index, Germany
Building Permits, USA
API Weekly Crude Oil Stock, USA

This affects:

CNY and its subsequent pairs
EUR and its subsequent pairs
USD and its subsequent pairs
Oil prices


ECONOMIC CALENDAR Open / Comment

2021-07-19 11:00:55 OctaFX Analytics pinned «Dear subscribers, Welcome to OctaFX official channel. We respect every subscriber and ask you to do the same. To do so, please, follow these rules: 1. No Abusive Language We welcome all members of this group to share their opinions and experience with us.…» Open / Comment

2021-07-19 11:00:49 Dear subscribers,
Welcome to OctaFX official channel. We respect every subscriber and ask you to do the same. To do so, please, follow these rules:

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6. Understanding and Following Trading Analysis
Please, note that there is no such thing as a 100% profit prediction. Remember that you remain solely responsible for the decisions you make and the financial risks you take. Open / Comment

2021-07-19 10:04:33 #GBPUSD #weekly_outlook

GBPUSD mid-term outlook (4 hour chart)

Technical analysis:
The RSI, which is under 50, but close to oversold zone, which indicates prevailing movement downwards with possible correction upwards.
The price is under Kijun-sen of Ichimoku indicator, suggesting that the downwards movement may prevail.
The MACD is giving off a bearish signal.

Fundamental:
Sterling is trading at 1.3754, its lowest in more than a week. Boris Johnson’s government is betting fully vaccinated people are less likely to get seriously ill with COVID-19.
A surge in infections could (also) foster an emergence of new variants. If new variants are resistant to existing vaccines and spread to the rest of the world, lockdowns could remain in place for longer and in turn hold back the global economic recovery. All eyes will be on England.

What the possible outcomes are :
The GBP/USD is under pressure. In our most likely scenario, we may see a downwards correction towards 1.37405 .
If the price fails under this level, we can expect a continued downtrend towards the next support level of 1.37151.
Contrarily, the pair may rise towards the resistance level of 1.37543.
If the pair manages to surpass this resistance level, we should expect a continued surge towards the resistance level of 1.37750. Open / Comment

2021-07-19 10:04:26 Open / Comment