Today is the first time I’m happy to share two charts from a Trading Warrior Brother of mine Jess Midas, who’s work I admire and appreciate. I hope he finds more time to share his thoughts on the fx market. Here are his first two charts that he shares through Trading2day.com and who is Jess?
Jess Midas , uses fundamental analysis with Supply and Demand technical zones… He drills down and looks for trendline with price action and momentum on lower time frames as confluence for trading direction at SD zones
GBPUSD is getting rejected at the trend line resistance. A pull back towards 1.22-1.23 is expected where I would re-think long positions.
EURUSD continues to produce bearish divergence signals around 1.0770 and I believe we are going to see 1.07 or lower soon.
I continue to expect a bounce towards 1.34. Long-term view for a push towards 1.20 is still valid and will be confirmed below 1.30. However if we make a higher low around 1.32, we should also keep in mind that there is also a chance for a move towards 1.40 first. Short-term I see selling pressures from 1.34 to 1.32
Bullish divergence in the 4 hour chart.
Thank you for taking the time to catch up on my thinking and I also hope you appreciate the charts by friend Jess Midas.