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GBPCAD - The GBP Is Unstoppable!Analysis: This is another setup that we see involving the GBP and this is pretty much the same as our GBPUSD setup. Firstly looking at price it's clear to see that we're in an upwards trend. We're forming higher highs and higher lows. We also have an upwards trendline which is being respected giving us even more confluence that we're in a strong upwards trend. Price formed this pullback last week which was expected, however we've now pulled back to an area that interests us and an area where we expect to see bullish momentum form. At this level we have a previous area of resistance. As we know resistance often becomes support once broken so this to us looks like a possible area of support. We have more confluences however which line up with our area making it not just a possible area of support but instead a strong area of support. At this level we have the 61.8% fib retracement level. This is often classed as the strongest fib retracement level meaning that we should see buyers step in and push price higher, going in favour of our idea. Another confluence that we have is the upwards trendline. When this trendline has been touched in the past we've see it be respected then the buyers step in and push price higher. History often repeats itself especially in trading so we expect this to happen. Again going in favour of our bullish thesis. The final technical confluence that we have is the slowing bearish momentum. On Friday last week we saw some bullish momentum step in and take control of the market, which is a strong sign to us that we could be seeing price reverse and continue its move to the upside. This morning we had some news that was negative for the GBP, however this move that we got, in our opinion was an over reaction and we expect to see price continue with the bullish momentum we saw come into the markets at the end of last week. We don't just have the technicals on our side but we also have the fundamentals. Currently the GBP is the 2nd strongest major currency whereas the CAD is the 4th strongest major currency giving us even more reason to be long on this pair. That's not the end of it though. As of the most recent COT report we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish. For the CAD however we have a different story. We saw an increase of 3K short positions, whilst seeing a decrease of 1K long positions. This is bearish for the CAD. Both the fundamentals and the technicals favour being long on this pair which is why we have a bullish bias. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
18
GBPUSD - GBP Now Stronger Then The USD?Analysis: This has been a beautiful pair to trade recently and now we've got another opportunity setting up. Firstly looking at the chart it's clear to tell that we're in an upwards trend. We're forming higher highs and higher lows which confirms what we're seeing. We also have an upwards trendline which is being respected, again showing us that we're in an upwards trend so we're only interested in long positions. Price has made a move to the downside which may seem bearish, however this is just a pullback in an upwards trend. Where we're at currently looks like a great possible place to enter. We've got a previous area of resistance and as we know resistance often becomes support once broken so we expect that this will happen this time around. This isn't just our only confluence though. At this level we also have the middle between the 50% fib retracement level and the 61.8% fib retracement level, which is often called the "golden zone". All this means is that we expect bullish momentum to be in this area which would in turn push price to the upside making our level more attractive to buy at. To add further bullish strength to this level we also have an upwards trendline. This trendline has been respected multiple times in the past and every time its been touched we've seen strong bullish momentum. With trading history often repeats itself which is why we expect price will respect this upwards trendline again. Finally to further our point on the technical aspect we've been seeing slowing bearish momentum indicating to us that the bears are taking a step back and it's time for the bulls to step in and push price higher. This morning we did have some news come out for the GBP which was worse then expected, however this news isn't comparable to the bullish strength that we have so this doesn't really matter to us. Taking a look at the fundamentals as well we can see that the GBP actually overtook the USD in strength, meaning the GBP is now the 2nd strongest major currency whereas the USD is the 3rd strongest major currency, so this just furthers our bullish thesis, however we still have more bullish confluences to add to our idea. As of the most recent report for institutional positioning for the GBP we saw an increase in short positions of 18K which may seem bearish, however we also saw an increase of 24K long positions so this is very bullish for the GBP. This isn't the same for the USD however. As of the most recent report on institutional positioning for the USD we saw an increase of 7K long positions, but we also saw an increase of 8K short positions, meaning this is bearish for the USD. Overall we have all of our confluences pointing to bullishness on this pair and we're also sat at a strong level which we expect to hold, giving us a strong reason to be bullish! Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
2
GBPNZD - Is The GBP Strength Coming To An End?Analysis: Bullish Confluences In an upwards trend Retest of a key level 50% fib retracement touch Upwards trendline touch GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency 25K short position decrease for the GBP Bearish Confluences 30K long position decrease for the GBP 3K short position decrease for the NZD Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
4
GBPAUD - Will The AUD Continue To Be Bearish?Analysis: Bullish Confluences In an upwards trend Break & retest of a previous area of resistance for support 38.2% fib retracement level present Upwards trendline present GBP is the second strongest major currency where as the AUD is the 7th strongest major currency 25K short positions decrease for the GBP 2K short position increase for the AUD Bearish Confluences 30K long position decrease for the GBP 1K long position increase for the AUD Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
8
GBPAUD - Will We See This Pair Rise After CPI?Analysis: *THIS SETUP WAS SHARED IN OUR VIP GROUP YESTERDAY* Strong upwards trend (bullish confluence factor) Retest of a key level (bullish confluence factor) 50% fib retracement level touch (bullish confluence factor) Upwards trendline touch (bullish confluence factor) GBP 2nd strongest major currency (bullish confluence factor) AUD 3rd weakest major currency (bullish confluence factor) 24K long position increase for the GBP (bullish confluence factor) 5K long position decrease for the AUD (bullish confluence factor) Comment: We have a strong reasons to be bullish on this pair, hence why we are. The CPI figures coming out for the AUD could give us the catalyst we need for this pair to head higher. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
6
GBPNZD - A Breakout Of The Range?Analysis: Taking a look at the charts we can see that price looks slightly choppy and like we're stuck in a range, however a trade has setup that is in accordance to our plan so we're taking it. Although price is in a range we can see that price is still heading to the upside slightly. We also have an upwards trendline which confirms that we are actually in an upwards trend. This means that we're only looking for long positions. We had some news that came out for the GBP this morning which was slightly negative causing an overreaction and price pulled back to an area that we're interested in. Whilst this news was negative we don't see this news event as that important and we also have a lot of other confluences pointing to bullishness so we don't really care about this small thing going against our idea. Whilst the area that we have marked out might not seem like an obvious level, to us it looks like a great place to enter at. We've seen this level hold in the past so we expect that it could hold again making it a possible support level, however this isn't the main reason why we like this level. The driving factor for why we have this area that we marked out is because of the added confluences which are lining up with. Firstly we have the 50% fib retracement level which we expect buyers to be sat at wanting to push price higher meaning that this favours our bullish thesis. Another confluence that we have is the upwards trendline. When we've seen this trendline be touched before we've seen it be respected and price has then made a move to the upside. Trading is all about history and patterns as they repeat themselves, so if this has happened in the past then its likely that this will happen again giving us another reason to be bullish especially from this area. The final technical confluence we have is the candle that we saw on Friday. We saw strong bullish momentum and we were expecting this to continue this week however after the news came out, price dropped back to our area of interest. Like we've said already we think that this is an overreaction so we expect to see the bulls step in again and push price higher, going in favour of our bullish thesis. Fundamentally as well the GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency so this massively goes in favour of bullishness on this pair. Taking a look at the COT data as well we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish, again favouring the long side. For the NZD however this is the opposite. We saw a decrease of 100 long positions and an increase of 2K short positions, indicating possible bearishness for the NZD, which goes in favour of our overall bullish thesis. We have the fundamentals pointing to bullishness and we have a strong place to enter from which is why we are bullish on this pair and expect to see a continuation to the upside. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
14
GBPUSD - Pullback Before A Continuation Higher!Analysis: Looking at the charts we're clearly able to see that price is in an upwards trend. We've been forming higher highs and higher lows which shows us the trend we're in so knowing this we're only looking for long setups on this pair. We also have a key level which we've marked out where we've previously seen a strong rejection from but we've since broken higher and we're currently retesting this previous level of resistance for support. As we know resistance very often becomes support which is what we're expecting to happen now. To further add to our idea and why we think price will head to the upside from this level, we also have the 38.2% fib retracement level. Whilst this isn't the strongest level we still do often see this area hold and with this fib retracement level being at our area of support we expect that it will hold and we'll see buyers step in, pushing price higher. Another confluence factor that we have is the upwards trendline that is present. When this trendline has been tagged before we've seen buyers step in and push price higher. This trendline also lines up with our area so we have a really strong level of support which is why we think this is a good place to enter. The fundamentals as well favour our idea. Currently the USD is the strongest major currency whilst the GBP is the 3rds strongest major currency. Whilst this doesn't go in our favour, if we dig a little deeper we can see why we are actually fundamentally bullish on the GBP over the USD. As of the most recent report for institutional positioning we saw a decrease in both long and short positions for the USD so this is neutral whereas for the GBP this is an entirely different story. As of the most recent report for institutional positioning on the GBP we saw a massive increase in long positions whilst also seeing a massive decrease in short positions so this is very bullish for the GBP and this looks like to us, early signs of possible bullishness to come for the GBP. With the technicals and fundamentals both pointing to buy the GBPUSD we get a bullish outlook for this pair. This position will also help to hedge our USD positions as we are heavily involved in the USD currently and with this position we're able to make money if the USD goes up or down because we're hedged. At JPI we like to hedge certain positions when we're exposed as this allows us to better manage our risk and with such a bullish setup on GBPUSD this seems like a perfect pair to hedge positions against. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
28
GBPCAD - Inverse head and shoulders pattern forming?Analysis: Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead have another pattern, an inverse head and shoulders pattern. This is a bullish chart pattern which is often followed by a bullish move after the second shoulder is formed which is what we expect and this second shoulder lines up with our support level. To add further to this level of support we have a previous downwards trendline that was broken and now is being retested for support. We expect that buyers will set here and will want to hold this level making it a good buying opportunity. Taking a look at the fundamentals we have the GBP which is the 3rd strongest major currency compared to the CAD which is the 2nd weakest major currency so this is already going in our favour, but we get even more confluence as we dig deeper. As of the most recent report for institutional positioning on the CAD we saw an increase in both long and short positions so this is pretty neutral but this isn't the same story for the GBP. As of the most recent report on the GBP for institutional positioning we saw an increase in long positions and a decrease in short positions showing the strength of the GBP and we expect that this will continue. Overall the technicals and the fundamentals are pointing to bullishness on this pair which is why we have our long bias on GBPCAD. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
26
GBPAUD - Will The AUD News Change The Trend Direction?Analysis: Looking at this pair we're able to see that price is making a move to the upside. This is confirmed when we take a closer look at price and we can see that price is forming a series of higher highs and higher lows which confirms our bullish thesis. Currently price is sat at a key level which has held as both support and resistance in the past so we expect that this level will be respected and will hold again. Fundamentally the GBP is the 3rd strongest major currency pair and each week it gains more and more strength, whereas the AUD is the 3rd weakest major currency pair making it not very attractive to buy. Although the AUD did have some bullish news last night we don't expect that this will continue especially after the AUD news that we're expecting tonight. If the news later tonight comes out bullish for the AUD then this will invalidate our idea however if the news comes out bearish for the AUD then we'd have everything that we need to enter long on this pair. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
4
GBPCAD - Break Of Long Term Trend!Analysis: We were looking at this pair not that long ago for long setups, however we didn't get this in the end and price actually broke below our level that we were interested in. Looking at current price action we've now got a bearish outlook on this pair for multiple reasons. As we saw price break our level we are not longer in an upwards trend, meaning that we don't want to be looking for longs but instead we want to be looking for short setups. We're at a very key level which has been tested multiple times and we expect that it will be respected again this time for resistance. We've got added confluences as well which give us more confidence in this setup. Firstly the 50% fib retracement level is at our area which we expect sellers to push price down from so this goes in our favour. Another confluence that we have is the downwards trendline that is present. We expect that price will bounce off of this trendline and continue its move to the downside. Our final technical added confluence we have is the break of a long term upwards trendline. This shows us that the long term trend has been broken and we expect to see a change in the market momentum which goes with our bearish thesis. Fundamentally the GBP is stronger then the CAD so this doesn't go in our favour but like we've said before we expect that oil prices will rise again soon and with this the CAD will also rise. Canada is the 4th largest oil distributer in the world so if oil prices rise so will the CAD. This is why we don't really mind that currently the GBP is stronger then the CAD because we think that this will soon change. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
8
GBPCHF - A Break Finally?Analysis: Price was in this beautiful downwards trend until recently where we saw a break of that trend. Price managed to break with a strong daily candle signalling to us that there could be a possible change in the trend direction. Price has now pulled back to a key level which has held multiple times as support and as resistance so we expect that it will hold again. We have other confluences as well which line up with our idea. At the area of support we also have the 50% and the 61.8% fib retracement levels which we expect buyers will be sat at willing and wanting to push price higher which works in our favour. At this level we also have the retest of the previous downwards trendline which could hold as support, so this again goes in our favour. Taking a look at the fundamentals the GBP is the 3rd strongest major currency pair currently and with the GBP gaining more and more strength each week we can't see this changing for a while. The CHF is pretty neutral being the 4 weakest major currency pair but again with the current market conditions and the strength of the GBP this is a trade that we will be looking to enter long. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
Euro Weakness EURGBPAs the UK comes out of lockdown and the economy re-opens I expect that the GBP strength will continue. Next level is a 4% drop in EURO value against the GBP, 400+ pips, trading from the weekly chart. My stop levels are large, but will still only be 1/2% risk for me. The total trade is a 2.74:1 risk reward (slightly under my minimum 3:1). I like the feel of this trade from a price/trend continuation point of view and fundamentals. Let me know what you think? Could we push even lower to pre-brexit levels?
Short
by MSI_JAL26