It is around this time of the month we start looking at monthly charts to see what instruments might be offering us an interesting play with roughly a week to go in the month.   Many times early in the month, a pair can give a tip off to its upcoming direction, however the move […]

EUR/GBP: bullish continuation   Bollinger Bands bullish; ADX and DI bullish; RSI bullish.   Although the Bollinger Bands indicator narrowed the distance between its borders, signaling lower volatility, the EUR/GBP cross-rate remained in the bullish territory above the middle line. Besides, the rate charted a preliminary breakthrough signal after closing multiple candlesticks above the upper […]

GBP/CAD: bouncing off intraday support   Ichimoku Cloud bullish; ADX and DI mixed; RSI bullish.   The GBP/CAD cross-rate peaked above the 1.60 figure, slid back down to the support range below the Ichimoku Conversion line, tested the Base line support, leaving a long donside whipsaw, and reversed back to growth. It’s important that despite […]