Observing the charts of forex technical analysis for the exchange rate GBPUSD we can see the upward movement above the channel.
On 4 hour chart price reach EMA(200) and found a resistance. On 1 hour chart price is above EMA(50) and EMA(200). Also we notice the upward cross between EMA(50) and EMA(200).
Applying the rules of forex technical analysis all the critical levels for today Friday, September 19, are as follows:
On 4 hour chart price reach EMA(200) and found a resistance. On 1 hour chart price is above EMA(50) and EMA(200). Also we notice the upward cross between EMA(50) and EMA(200).
Applying the rules of forex technical analysis all the critical levels for today Friday, September 19, are as follows:
The area 1.6350 – 1.6390 is a neutral zone.
For as long price remains above the neutral zone our trading targets will be: 1.6600, 1.6680, 1.6750.
If price move downward and close below the neutral zone our trading targets will be: 1.6280, 1.6210, 1.6160, 1.6100, 1.6050.
For as long price remains above the neutral zone our trading targets will be: 1.6600, 1.6680, 1.6750.
If price move downward and close below the neutral zone our trading targets will be: 1.6280, 1.6210, 1.6160, 1.6100, 1.6050.
1H Chart
The area 1.6442 – 1.6467 is a neutral zone.
If price move upward and close above the neutral zone our trading targets will be: 1.6550, 1.6590, 1.6680.
If price move below the neutral zone our trading targets will be: 1.6358, 1.6300, 1.6245, 1.6200.
We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.
If price move upward and close above the neutral zone our trading targets will be: 1.6550, 1.6590, 1.6680.
If price move below the neutral zone our trading targets will be: 1.6358, 1.6300, 1.6245, 1.6200.
We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.
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