Forex Place (4xp)

[Leobrfx]

EURUSD Forecast: 23/10
The EURUSD attempted to push lower yesterday but found support at 1.4943, whipsawed to the upside, topped at 1.5037 and closed at 1.5025, indicating bullish momentum remains strong and downside corrections might be over at this phase. I dont’ trade corrections, but I love them
My bullish channel on h4 chart below has been a very useful technical tool for me as bullish momentum still move perfectly inside the bullish channel with the lower line provide good technical support area. The bias remains bullish in nearest term still targeting 1.5080 and 1.5140. Key support level remains at 1.4950/60 area and the lower line of the bullish channel. Short position is not recommended
GBPUSD Forecast:
The GBPUSD made a significant downside correction yesterday, slipped below 1.6520 support area, bottomed at 1.6486 before whipsawed to the upside and closed higher at 1.6616. We might complete the downside correction at this phase and I am expecting bullish continuation today targeting at least 1.6740 area before aim for 1.7042. Immediate support at 1.6575. Break below that area should lead us into no trading zone as price might entering consolidation phase but I still prefer a bullish scenario and short position is not recommended.



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[nicolebobbin]

this is the first time I know about this site, having a look now, seem promising. But why don't they accept paypal ?

 

[Leobrfx]

Other means of deposits

this is the first time I know about this site, having a look now, seem promising. But why don't they accept paypal ?

Good morning. Mr. Liberty Reserve accepted, credit cards and other forms of deposits.

 

[Leobrfx]

EURUSD Forecast:29/10
As I had expected, the EURUSD continued it's bearish momentum yesterday, bottomed at 1.4690 and closed at 1.4715. As you can see in my daily chart below, we area in critical technical phase where price is now testing the major trendline support. This trendline support could be a strong support area since overall in longer term the bullish outlook remains intact, but once violated to the downside, we should have further bearish scenario. So I think what is going to happen on that trendline support today and the rest of this week should be our technical focus at this phase.

The GBPUSD made had another volatile but indecisive movement yesterday. On daily chart below we can see that the pair attempted to stay above the bearish channel, topped at 1.6466 but once again failed to close convincingly above the bearish channel indicating that bullish pressure is not strong enough to push higher and might be exhausted and potentially trigger bearish momentum. I still prefer a bearish scenario at this phase with 1.6113 as the bearish target. Immediate resistance at 1.6430/60 area.

 

[Leobrfx]

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