We're Waiting for a Strong Signal to the Downside in the GBPUSD Market

We’re Waiting for a Strong Signal to the Downside

We analyse our normal markets and have been spot on with our EURUSD analysis which has now confirmed the start of our wave 5 completion pattern. We could see an intra-day move back to the mean (11650 zone) before we continue lower. After a strong push up in Stock Indices yesterday, we see a day of relief and price retracing back to the mean, with decision time for the DAX. DOW we could be in a wave 4 on the 240 min timeframe, so watch out for that Green PTS signal potentially if we hold current levels. Gold is still trading very slowly and continues its sideways movement, and Silver is at strong Resistance zones.

EURUSD daily
Wave 5 has started down. Could see an up day, but still looking for Shorting opportunities.

GBPUSD Daily

Is doing the same as the EURUSD. We’re looking for a Storyteller and Pro-Trading System combination for a strong signal to the downside.

USDJPY Daily

We could still see this market roll over and get a red Pro-Trading System. Currently, there’s nothing but long and green Pro-Trading System at the moment. It’s still holding at 76.4% Fibonacci level.

Dow Daily

Still in an uptrend, but consolidating.

DAX Daily

It’s decision time for DAX – it looks like we could still see a wave 5. DAX is still long and strong at the moment. If we turn red on Pro-Trading System without violating Double top, could be our ABC correction.

Gold Daily

Slow and non-directional. We did get a pop higher over the last few days.

Silver Daily

Had a new buy signal on Silver but we are at a resistance area (Double Top and Weekly Trendline). Be careful around current levels.