Cable analysis 10/8/21
We have broken bearish trendline awaiting a retest. so we are still short. reaction yesterday was expected as EURUSD and USDJPY were at significant support and resistance zones respectively. these pairs are highly correlated. check my analysis for EURUSD yesterday and you will see the expected reaction before market acted. today we expect the market to move slightly higher for GBPUSD and EURUSD before selling off again at resistance points 1.3890 and 1.1750 respectively. Cable is expected to make a true reversal at 1.3770 and fibre at 1.1705
USDJPY expected to sell off for a short while up to 110.20 and expect it to rally during New York session.
So lets sit on our hand for now guys.
"Just don't do anything until you know you've got it right"
James B Rogers
USDJPY expected to sell off for a short while up to 110.20 and expect it to rally during New York session.
So lets sit on our hand for now guys.
"Just don't do anything until you know you've got it right"
James B Rogers
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