Thread: Discuss all about FX open

GBP/USD is still uping now

Originally Posted by ashokshetty

GBP/USD is still uping now

yes, G/U is crazy today, it has been break fown trend line. Trend turn to long now.

Originally Posted by primarylogic

yes, G/U is crazy today, it has been break fown trend line. Trend turn to long now.

I will sell GU at a high price :)

from action forex :

Sterling Soars on Retail Sales, Dollar Recovers

After being pressured for most of the day, dollar recovers some loss in early US session after better than expected jobless claim report which dropped from upwardly revised 374k to 365k. On the other hand, Canadian dollar gives back some of the recent gains after disappointing retail sales report which showed a mere 0.1% mom growth in Mar with ex auto sales flat. Kiwi and Sterling are still the biggest gainer today and are both still maintaining strong momentum.


maybe this moment still good to long at GU :) (risk yourself, just my comment)

Originally Posted by Alizain

from action forex :

Sterling Soars on Retail Sales, Dollar Recovers

After being pressured for most of the day, dollar recovers some loss in early US session after better than expected jobless claim report which dropped from upwardly revised 374k to 365k. On the other hand, Canadian dollar gives back some of the recent gains after disappointing retail sales report which showed a mere 0.1% mom growth in Mar with ex auto sales flat. Kiwi and Sterling are still the biggest gainer today and are both still maintaining strong momentum.


maybe this moment still good to long at GU :) (risk yourself, just my comment)

Hm, G/U continued to growth momentum today, continue to observe what its performance next week.

yes and cause the rebound of oil price i feel if USD still weaken and now looking for USDCAD, maybe would sell it. (not trading recommendation)

Originally Posted by Alizain

yes and cause the rebound of oil price i feel if USD still weaken and now looking for USDCAD, maybe would sell it. (not trading recommendation)

About these, this information maybe useful as below:


USD/CAD - This Week's Technical Opportunity


he oil ‘crisis’ is dominating financial headlines, business shows, and even congress’ agenda. When the price of a commodity commands this level of publicity, the probability of a sharp reversal is heightened. As a currency trader, one way to speculate on an oil reversal is with the USDCAD. What’s more, risk is well defined.
This is a longer term look at the decline from the 2002 top near 1.60. The drop is in 7 waves (to this point), and could be complete as a double zigzag correction. If this pattern holds, then a multi-year low is in place at .9055 and the USDCAD is headed much higher in the coming months. A word of caution though; there is an alternate bearish pattern that holds just as much weight and allows for a new low (below .9055) before a major low is considered in place. For bulls though, risk is low. We’ll address this in shorter term charts.



The break of a trendline a few weeks ago is worrisome but as long as price is above .9710 (keeping a series of higher lows intact), a bullish argument can be made. A drop below .9710 will either lead to a drop below .9055 (and final low) quickly or complete wave B of a triangle. In the case of the latter, the USDCAD would trade in a range for probably the rest of the year. In summary, a drop below .9710 warrants a bearish bias. Even in the case of the triangle, the pair likely drops into the .9300 area to complete wave B.



This is the chart that we have been showing in the technicals for some time and illustrates why we have favored the bull side. We are treating the advance from .9710 to 1.0324 as wave 1 (probably of a larger C wave) of a bull cycle. The slow drop from 1.0324 has all the earmarks of a correction; time consuming and consisting of 3 wave movements. The bullish line in the sand is .9710. With price so close to there, reward/risk is heavily skewed in favor of bulls. The minimum objective is above 1.0324.

I want get some details infomations of the ZigZag indicator, but i didn't searched a satisfied answer, who knows where can find some infomations?

GBP/USD charting analysis next week.

GBP/USD breakout downtrend-line lask week, now touched MA60,should pull back (1.9660-1.97)

to test downtrend line to get support then turn to up again, target 1.9-2.0 area.


My Own Idea, Risk Yourself!

Originally Posted by primarylogic

I want get some details infomations of the ZigZag indicator, but i didn't searched a satisfied answer, who knows where can find some infomations?

how about this one article ? ZUP - Universal ZigZag with Pesavento Patterns. Part 1 - MQL4 Articles