I had a wonderful weekend at KL Performing Arts Center with a Hungarian teacher, she is amazing and she shared her life experience; She love Malaysia - it is an amazing country, she traveled so many places but never seen a beautiful country like here, with more than 4 religion in the same land, and we can still see the same street with Mosque, Hindu Temple, Buddhist temple, Church...
She shared her life during world war and how the country has been teared off and how Hungarian being pressured... and due to that Hungarian is sensitive, artistic... :) So I am thankful for this wonderful land we are living, and please treasure every moment, and live our life to the fullest!
GBP/USD
While I have started the chart, market has gap up and bullish candle has formed.
I do not know it is a technical rebound but I think this bullish sentiment is going to be short lived.
After falling for past two weeks, without breaking below 1.5400, market is going to consolidate between 1.5400 support and resistance 1.5750-800.
I reckon market to move slowly up to 1.5650 early of this week until mid-week (butterfly pattern in 1 hour chart confirms the reversal).
The consolidation might last for a week or two, main resistance 1.5750-800.
However, if market couldn't survive above 1.5400 support, then it is going to fall to our next target 1.5250.
EUR/USD
Weekly chart: 4 black candle on weekly chart, major support 1.3150.
Daily chart: bearish
4 Hour chart: bearish
1 Hour chart: butterfly pattern has formed. Suggest a short term technical rebound.
Resistance 2: 1.3730
Resistance 1.3430
Support 1: 1.3150-1.3200
Support2: 1.3050
Market has been trading below EAM50 on 4 hour chart which means bearish. With the butterfly pattern in 1 hour chart, it suggests a short term technical rebound to immediate resistance 1.3430.
However, after falling for 4 weeks, market may trade in consolidation for 2 weeks before the next trend emerge. Be patient and wait for trading opportunity at main support / resistance.
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