Author Archives: Glenn

Snapshot: GBPUSD, NZDCAD & EURJPY

GBPUSD Price moves in a never-ending cycle of these things, followed by those things, and then these things again, and so on. See below: These things are the impulse/trending moves. They dominate your screen; they close strongly, they often don’t have much wick (the candles) and price moves. Those things are your retraces or consolidations […]

Weekly Snapshot | May 28

EURUSD If the EURUSD started closing above 1.1730 on the daily timeframe, I might think that the downtrend was in trouble. For now, though, the bears still look firmly in control – no longs for me. Can price keep going down after it’s gone down so abruptly? Yes. My strategy is to wait for minor […]

EURUSD: Set to go higher?

1.2630, and then possibly 1.2830 after that. Let’s have a look at some charts. I have marked the 1.2630 – 1.2650 zone on the chart above and shown several of the significant reversals that have happened on that zone in the past. Nothing I am seeing in the recent price action suggests a major reversal […]