To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=forex_pro&ad=Mj_mS4Ay1uA Take it over here to the GBPUSD. We take it over here and we could see challenging the orange-shaded area today. 1.3080, 1.3050 is the orange zone. It’s challenging it. We’ve seen it before. Look back here, where this little, green circle is. We’ve seen it as support here. It challenged it, couldn’t break it, turned around and went back up. We look back further into history and there’s a darker green circle right here, where we’ve seen the market found some resistance there at the orange zone before. I’m trying to get it selected and moved over, but having trouble doing that. See if I can get that green circle. There it goes. You could see that little, green circle right there, where we have seen resistance there before into the orange-shaded area. And then, just before that, you could see some support there. So, we know that that orange-shaded area is a clear decision point for the market. Again, that’s 1.3080, 1.3050. If we’re going to see it go higher, it needs to breakout above it, which it hasn’t done. In fact, we’ve seen many times where we’ve seen resistance and reversal, just like back over here on the left-hand side. Four-hour timeframe. Take it over here. We see resistance here. It fell back down. We’re challenging it now. Unable to break it so far. So, for the time being, we’re watching for resistance and potential evidence of reversal, maybe back underneath 1.3050, or eventually a final breakout above 1.3080 and the continuation back to the blue zone. So, we want a confirmed breakout before we take the long or watching for evidence of reversal to go back down towards the purple zone as our next area of support for the GBPUSD. Take it over here to the USDCAD. It’s at a critical decision point as well. We go back along this pink-shaded area and probably most important – let me see. I’m just going to take this blue box that’s up here and pull it right here into that pink zone. Take a look right there. We see multiple days. Again, this is the daily timeframe, so multiple days where the market found support right there, where the blue box is, and then turned around and went back up. So, we don’t want to take for granted that it’s going to breakout. We want evidence that it’s breaking out. So, for me, that will be the break underneath 1.3000. https://www.youtube.com/watch?v=Mj_mS4Ay1uA Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.
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Duration: 12m 8s
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