Fxequity

Weekly Technical Outlook: Pullbacks on MU and MATIC And GBP/USD’s Reversal Setup


Welcome to the final buying and selling week of September!

Finish the month with a bang by benefiting from MATIC/USD, and MU’s retracements. Oh, and try GBP/USD’s long-term resistance!

Assume you may make earnings from these charts?

MATIC/USD Daily Forex Chart
MATIC/USD Every day Foreign exchange Chart

Polygon (beforehand the MATIC community) is poppin’ up fascinating dojis and lengthy wicks across the 1.0000 zone.

And why not? As you’ll be able to see, the extent strains up with not solely the 61.8% Fib pullback of the final huge downswing, but it surely’s additionally flirting with the 200 SMA on the every day time-frame.

Will the token return to its 1.8000 highs? Look out for momentum above the 200 SMA, which might imply that MATIC/USD is able to retest its September highs.

Not satisfied that MATIC will bounce this week? It’s also possible to await bullish momentum or a pullback to a long-term pattern line help if you need higher threat ratios in your lengthy trades.

MU: Weekly

MU Weekly Forex Chart
MU Weekly Foreign exchange Chart

Semiconductor-maker Micron Know-how (MU) is printing its earnings reviews this week!

If you happen to’re buying and selling the inventory, then it’s best to know that the weekly chart is exhibiting some consolidation across the $70 earlier resistance degree.

A dip to the $60 – $65 zone may appeal to extra bulls because it’s nearer to a earlier resistance space and the 100 SMA on the weekly time-frame.

Bulls who’re betting on the bullish divergence can goal the highs slightly below $100 when you do see some shopping for stress.

If MU begins dipping beneath $70, although, you then gotta be careful for the inflection factors that we talked about to see if there’s shopping for alternative!

GBP/USD Weekly Forex Chart
GBP/USD Weekly Foreign exchange Chart

I don’t know when you’ve observed, however GBP/USD’s 1.4200 psychological resistance has been holding like a champ thus far this yr.

What makes Cable’s weekly chart fascinating this week is that it’s exhibiting a Head and Shoulders pattern slightly below the vary resistance zone.

Will the pound quickly see extra losses towards the greenback? Promoting on the break beneath the Head and Shoulder’s “neckline” is an effective guess when you’re ready for promoting stress after the vary resistance rejection.

If you happen to’d moderately purchase GBP/USD, although, you then’ll wish to do it at a transparent bounce from the “neckline” after which use the 1.4200 zone as your preliminary targets.



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