Forex Trading Diary

GBPUSD Analysis.
GBPUSD’s fall from 1.6662 extends to 1.5936 level. Deeper decline is expected to test 1.5777 key support, a break down below this level will indicate that the uptrend from 1.4397 has completed at 1.6662 level already, and then the following downtrend will take price to 1.5500 zone.

EURUSD Analysis.
EURUSD is testing the support of the lower border of the rising price channel on 4-hour chart. A clear break below the channel support will signal deeper decline to test 1.3793 key support. As long as 1.3793 support holds, we’d expect uptrend to resume and one more rise towards 1.4600 is still possible. However, below this level will suggest that the rise from 1.2884 has completed at 1.4338 already, and then deeper decline could be seen to 1.3550-1.3600 area.

But i suggest not to trade aggressive in Monday.

ForexCycle