EURUSD LOOKS LIKELY TO CONTINUE LOWER HOWEVER WITH THE CURRENT WEAKNESS IN THE USD WE MAY SEE PRICES RETRACE 50% OF THE WEEKLY MOVE BEFORE SEEING FURTHER DOWNSIDE. THE ECB ANNOUNCES INTEREST RATES THIS WEEK AND THE PRESS CONFERENCE IS LIKELY TO RE-ITERATE DRAGHI'S COMMENTS ON MONETARY STIMULUS. EURUSD REMAINS RANGE BOUND UNTIL WE SEE A CLEAR BREAK OF THE SUPPORT...
FTSE100 HAS REJECTED THE KEY RESISTANCE AND WITH RETAIL TRADERS NET LONG WE COULD SEE THIS MARKET MOVE LOWER. CURRENTLY PRICE LOOKS TO BE FORMING A DOUBLE TOP PATTERN THE DAILY CHART. IF THIS PATTERN COMPLETES WE EXPECT THE NECKLINE TO ACT AS RESISTANCE WITH TARGETS BEEING THE KEY WEEKLY TRENDLINE.
GBPJPY LONG TRADE OFF SUPPORT ENTRY- 141.42 STOP LOSS- 140.50 TARGET- 143.30
IN THIS VIDEO UPDATE, WE TAKE A LOOK AT THE EURUSD AND HOW IT COULD PLAY OUT IN THE COMING WEEKS. PRICE IS CURRENTLY FORMING A BEARISH WEDGE PATTERN WITH A HIGH PROBABILITY OF A BREAKOUT TO THE DOWNSIDE. A BREAK WILL SEE SELLERS ENTER THE MARKET WITH THE TARGETS BEING THE 1.618 FIB EXTENSION HIGHLIGHTING A SUPPORT AREA.
IN THIS VIDEO UPDATE, WE TAKE A LOOK AT THE USD AND HOW IT MAY BE SHAPING UP FOR THE WEEK AHEAD. LAST WEEKS CANDLE FINISHED AS A STRONG BULLISH CONTINUATION CANDLE AND WITH PRICE FORMING HIGHER HIGHS AND HIGHER LOWS THIS MOVE COULD CONTINUE BACK INTO THE PREVIOUS WEEKLY HIGHS OF $97.50.
15 MIN US30 LONG ENTRY- LIVE STOP LOSS- 24543 TARGET- 24720
CADJPY 4HR LONG OFF SUPPORT ENTRY- 82.40 STOP LOSS- 81.86 TARGET- 83.47
EURCAD was likely to break lower as daily price action suggests the retracement has been too deep. Typically, when price retraces too deep the trend tends to end. This is what we could be seeing here on EURCAD with price heading towards the next support of 1.4980.
Looking at CADJPY, we can see the Canadian Dollar getting stronger off the back of higher Oil prices. CADJPY daily chart looks likely to head up to the key 73.50 resistance. Next week we could see the 4hr chart pullback to the key highs, where price could form a bullish continuation pattern.
In this video, we take a look at the US30 and how it moves after the current development between the US and China. China said to offer a 6-year import boost of more than $1 trillion. The US, however, would like this to happen in the next 2 but at least negotiations seem to be moving forward.
In this video, we take a look at a currency pair that could move higher using strength and weakness analysis. The 4hr timeframe is trending higher nicely, look for continued higher highs and higher lows into the next key resistance.
USDCHF continues to climb as the CHF weakens. Typically when looking for strength and weakness, we look at the USD major currency pairs. For instance, GBP has been very strong against the USD and CHF very weak. If you open up GBPCHF you will see this market trend higher. Look for CHF shorts against the stronger currencies such as GBP, CAD and AUD for potential...
FOR END OF DAY TRADERS ENTRY- 8.5294 STOP LOSS- 8.5874 TARGET- 8.4122
USD has started to stall around the $96.00 area and with the US government shutdown continuing we could start to see the effects roll over to the USD. If we see bearish price action here we could look for further USD shorts as price continues to make lower lows and lower highs in line with the downtrend.
BUY LIMIT USDCAD AT PREVIOUS 15MIN HIGHS STOP BELOW SWING LOW TARGET 1.3300.
AUDUSD SELL LIMIT ENTRY- 0.7196 STOP LOSS- 0.7206 TARGET- 0.7276
FTSE SELL LIMIT ENTRY- 6874.50 STOP LOSS- 6893.40 TARGET- 6835.00
S&P500 is approaching a key resistance level and looks likely to sell off in line with the weekly timeframe. The weekly timeframe has formed lower lows and has retraced to the 38.2 fib and key resistance. Looking for bearish price action here to suggest further downside to come.