EURCAD longWe are looking at this for a long position due to it breaking and retesting market structure on the 4h and a 61.8% fib level
Breakandretest
Sell Opportunity on CADJPYLooking at CadJpy, price seems to be creating bearish structure ever since we've rejected away from the weekly resistance level. This could signal us that more downtrend structure is in store.
Looking at the 4H timeframe, price is currently sitting around a significant H4 level that is acting as support. If price could crack this support and retest as resistance, this would be an interesting sell opportunity. I'm definitely keeping my eyes peeled for this one.
Buy Opportunity on USDCADLooking at the analysis I provided yesterday for UsdCad, price had a strong bullish candle closure past the M15 horizontal level. Now, I'll just be waiting for a pullback to the zone before looking for an entry. The USD recently had a bullish surge, so market structure for many of these pairs have been violated. Now just patience and discipline to wait for the pullback.
Sell Opportunity on AUDUSDAnalyzing AudUsd, price had its strong bearish push due to the bullish sentiment of the USD. Now I'll just be awaiting a pullback to this significant H4 level before looking for sells.
Scoping down to the M15 timeframe, I'll want price to extend into .74600 before identifying some bearish rejection. We shall wait and see
Possible Buy Opportunity on USDCADLooking at UsdCad, we could be seeing a potential buy setup forming. At the end of last week, price closed below the hourly horizontal level that is clearly identified. At market open, price had a bullish push past the level is currently pulling back to retest as support.
If price could present bullish rejection by wiping out the M15 horizontal level, that will identify a sign of strength for me. I'll be waiting for a break of this market structure before thinking of buy orders.
EURUSD Analysis: Week 7/12/21 - 7/16/21Right now I'm seeing a short term opportunity to buy. I like the break of the yellow trendline and a break/retest of the blue zone is when I'll try to find an entry.
News I'm watching out for. (all pairs)
Comments about the timeline of interest rate hikes.
Comments about quantitative easing (tapering or not).
Keep an eye on the opec+ spat. Watch for tapering of production cuts. Watch for oil demand projections returning to pre-pandemic levels earlier than expected.
Any news about vaccines being ineffective against new variants of the virus.
News about more lockdowns due to virus variants.
GL Traders!
"You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ." - Warren Buffett
Potential Sell Setup on CADJPYThe setup I called yesterday is playing out today. We've extended back to the 88.000 zone and now I'm waiting for some bearish rejection. I've identified a M15 significant level that seems interesting if price could manage to crack below. I'll be waiting for a break and retest of this zone to trigger a sell order. Until then, just patience.
Sell Opportunity on AUDJPYLooking at AudJpy, price has broken and retested a daily support/resistance level on the 4H chart. The only thing to wait for now, is significant bearish rejection away from the level. I've identified a M15 significant level that price needs to crack below before I deem it overall valid rejection away from the daily zone. I'll be awaiting a break and retest of this minor zone before looking for sell opportunities.
Clean US30 short setup. We have a clean setup here. Ill be waiting to see how price respects the POIs. Seeing if we get rejections off the level.
Possible Trend Reversal for GBPYJPYMoving onto GbpJpy, price has been creating bearish market structure ever since we've rejected away from the weekly resistance level. This leads me to believe that a trend reversal may be in the works, and we could have some more bearish momentum ahead.
Taking this into consideration, I've identified an H4 significant level of interest that could accelerate price towards the downside. I would like to see a little more of a pullback to 151.400 before continuing it's bearish rally.
Possible Trend Reversal on CADJPYLooking at CadJpy, we have some interesting bearish structure forming ever since we've rejected off of the weekly resistance level on the long-term charts. We have just recently broken some market structure by violating a daily significant support level with a bearish candle closure.
Before the bearish continuation, I anticipate that price will retest this level and extend back to 88.000. This psychological value adds some more validity and the structure of the level seems clearly defined. Just waiting on a break and retest of this level. Simple stuff.
Buy Opportunity on USDCHFLooking at UsdChf, we've seemed to sink below the significant H4 level for a brief consolidation period. Then price popped back above the level and tested it as support. Once we tested the level, bullish rejection was clearly apparent which caused a strong bullish rally past the significant H1 level.
Now that we are sitting past this level, I'll be waiting for a retracement back for another test as support to see if we could get some bullish rejection. If bullish rejection is apparent from the level, I'll be ready to buy.
Buy Setup for USDCADUsdCad had a major push towards the upside during New York session today. Price seems to be halting around the previous weekly highs, which allows us to identify a resistance level. I'm waiting to see if the buyers will be able to take over the level and possibly extend around 1.25000. I'm personally still bullish on USD and believe most these pairs still have some bullish steam to them.
Potential Trend Reversal on EURJPYMoving onto EurJpy, we could start analyzing this pair on the larger timeframes. On the monthly chart, we could notice that price is overextending into a non-horizontal resistance level. This leads me to believe the long-term bias is bearish for this pair.
Scoping down to the daily timeframe, I've identified a daily support/resistance level of interest. If price could drop below this level, I'll be looking for more downtrend structure to be established before going short.
Potential Sell Setup on AUDUSDSwitching to another AUD pair, AudUsd looks interesting for potential sell setups. We have price currently testing and rejecting away from a daily support/resistance level on the bigger timeframes.
Scoping down to the 4H, I would want to see if price could manage to break an H1/H4 swing level to determine if proper rejection is present from the daily level. So for now, I'll be patiently waiting for price to crack the swing level identified. Otherwise, I'll just be sitting on the sidelines.
Potential Trend Reversal on AUDCADWhen looking at AudCad on the daily chart, price has just recently left a strong bullish candle away from the weekly support level that has been formed. Considering we are showing a decisive push away from the level with a strong bullish candle, I'm waiting for more uptrend structure to form before diving into buys.
If price manages to break the recent H4 significant resistance level, that'll be a big sign of strength for the pair. I'll be waiting for a bullish break of market structure to add validity to the buy bias. For now, just being patient to have the buyers prove that they are in control.
Buy Opportunity on USDJPYLooking at UsdJpy, price is showing some bullish rejection away from the daily support level that has been formed. If price manages to break and retest the hourly swing level, I'll be waiting for bullish rejection before taking buy positions.
With the strong bearish push from the NFP news release at the end of last week, I believe USD sentiment will rise back to the previous daily highs on most pairs. We shall see.
Buy Opportunity on USDCHFLooking at UsdChf, we could be expecting a bullish movement towards the upside following the retracement back to a significant H4/H1 level. If price fully extends into the H4 level, with bullish rejection following, I'll look for an opportunity to place buys.
Sell Opportunity on EURUSDThings on EurUsd seem to be setting up pretty nicely. Price has broken and retraced back to a significant H4/H1 level. I'll just be waiting for some bearish rejection away from the zone to confirm the sell bias.
I'll most likely want to let this develop and identify a break and retest of a M15 level, for an optimal risk:reward scenario. Let's see if we could get some bearish rejection.
Sell Setup on EURNZDWe've just recently rejected away from a daily resistance level and broke a significant H4 level. If price could close below this level, and retrace back with bearish rejection, I'll be looking for sell opportunities. Just patience for now.
