DecaPip Weekly: 27/07/2015

Introduction to DecaPip
Welcome to our newest feature; DecaPip. The concept is simple: our professional market technician, with an exceptional system, showcases his own daily Support and Resistance levels across a broad spectrum of FX currency pairs. The most effective way to use the levels are:

  • If indicated levels hold, look for the price to reverse.
  • If levels are broken, look for the price to continue past to new highs or lows.

 

The DecaPip Weekly features the best support and resistance  levels for the upcoming week in the foreign exchange market and a guide to where price may be heading.

In trading this week I am seeing GBP becoming a major theme as we may now see it finally face some selling pressure and profit taking against a basket of major currencies.

At it’s most basic form good currency trading is about trading a strong currency against a weak currency or a weak currency against a strong one at any particular time when the disparity occurs.

With this in mind GBPUSD sell orders from a good retrace this week look attractive and so do EURGBP buys orders from lower levels.

 

EUR USD

Screen shot 2015-07-25 at 13.37.33

GBPUSD

Screen shot 2015-07-25 at 14.11.31

EURJPY

Screen shot 2015-07-26 at 11.06.11

USDJPY

Screen shot 2015-07-26 at 12.07.20

USDCAD

Screen shot 2015-07-25 at 14.44.06

EURGBP

Screen shot 2015-07-25 at 14.27.28

 

Got any questions about our new DecaPip feature? Contact Nathan at Nathan@littlefishfx.com

Disclaimer:
All comments, charts and analysis on this website are purely provided to demonstrate our own personal thoughts and views of the market and should in no way be treated as recommendations or advice. Please do not trade based solely on any information provided within this site, always do your own analysis. For more information please see our full disclaimer in the footer below.