We see a nice set up today for EURGBP as it bounced nicely off its support where it could potentially rise to its resistance. Stochastic saw a similar bounce off its support. Another nice set up today would be the SPX500 where we see it testing its resistance, potentially causing a reaction and thus pushing price down to its major support. Stochastic is also testing its resistance where a corresponding reaction could occur. Here are some of our nice calls previously:
1. XAUUSD dropped near to our major support:
2. BCO dropped to its major support:
3. EURAUD dropped to its major support:
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.