GBPAUD has been in an uptrend for the past 9 months and has recently pulled back approximately to the 50% Fibonacci retracement. We suspect the uptrend will continue soon but would like to see a daily close above the short-term downtrend line you see in green. As of Monday December 14th we need to see a close above 2.13400, obviously that closing price will be...
The Australian Dollar is on the defensive against is US counterpart once again. Prices have broken below trend line support guiding the move higher since early November, hinting the near-term bias has shifted to favor the downside once again. A daily close below resistance-turned-support at 0.7184 opens the door for a test of rising trend line support set from...
The Euro continues to push upward having rebounded against the US Dollar as expected, hitting the highest level in a month and establishing a foothold above the 1.10 figure. The single currency launched upward following last week’s underwhelming ECB monetary policy announcement. Near-term resistance is at 1.1117, the 50% Fibonacci retracement. A break above that...
Short targets to the downside on the break below the rising wedge. Targets around 135.800, 135.550 then 135.250. Once each target has been met management must take place. If price breaches above the yellow bearish trendily then this trade is no longer valid. Stops should be placed above 136.500. ***TRADE AT OWN RISK***
As you could see on the monthly chart we have two key scenarios. It would become more clear once we drop down to the weekly time frame. However, as you could see price has breached above the downward channel demonstrating bullish momentum. This strength of the bullish momentum can be argued through the Divergence seen on the RSI and the chart. This therefore,...
For the meanwhile this pair is looking short to downside targets of 182.500 possibly lower. For those of you who are looking to enter short a break and close below the mini yellow trendily would be a good entry. However on the longer term picture we are looking longer to the "D" on the red harmonic pattern around 187.930. If price does not drop down to the...
Overall we are long on this pair through conducting our top down analysis. On the monthly, weekly, daily time frame we have bullish signals. However, analysing the 4 hour window it seems as if the 5 Impulse wave is in play. If the 5th wave does complete around 0.64800-0.6500 we then can look for bearish signals for the corrective wave. However if price breaches...
EURUSD Non farm pay rolls analysis. If the NFP is negative for the USD we would see bullish momentum to our upside target of 1.12500 (possibly higher). If NFP is positive for USD then we can see movement down to our targets of 1.1000-1.09500. We have our safety and management levels in place which would help us determine where to enter the market. Trading the...
GBPCHF is getting ready to move one way or the other, odds favor a down move but you should be prepared to act in either direction. Explanation in body of chart.
Have been saying for months that our target for GBPUS target is 1.6000. Price reached close to this level Mid June and late August. However, we are all about risk management and safety within the markets. As you could see on the chart price has been rejected to the downside "DPR" 4 times. These 4 levels sit on the 61.8% retracement on the weekly time frame....
EURUSD looking bearish on the opening of the market. All about patience. We will wait for the Long setup for the swing trade and day trade for the short setups. As outlined on the chart we have safety levels set up to help us determine in which way the market will move. If Price breaks and closes below 1.11200 then we can see down side movement to the "D"...
GBPUSD has been in a downtrend over the past few days and clearly the hourly chart is following suit. As you can see there have been three corrective moves over the course of this downtrend. Each of these three corrective moves spanned 51 - 102 Pips. When corrective moves are limited to less than 20% of the total move it is showing that sellers are in control. ...
This pair is forming a very solid ABCD pattern as point C was put in place very decisively. The chart is showing the ABCD pattern overlaid with a Fibonacci Extension. Our projection is for this pair to make a run towards the 61.8% to 76.4% Fib extensions but we wouldn't be surprised if it made a run to the 100% level as the pullback was shallow. Pullbacks that...
Been stating for weeks our psychological targets are on the upside of 1.2000. However, that would not be achieved for a long time. Our weekly target is 1.1400 then 1.1700.
One to watch for a 3 Step Scalp MACD trade is USDCHF. We traded it nicely last nice from the short side and as you can see it came in more overnight. With the horrible wage growth reported from the U.S. the dollar could be in for some trouble throughout today. Don't be afraid to take a long scalp if the conditions present themselves, just be aware that sellers...
As explained in the linked idea, we are short on this pair. See descriptions on chart.
our psychological target is on the upside of 1.6000 as outlined a few weeks ago. We have a reversal pattern (Rising wedge) with divergence which represents some uncertainty in the market. Once price has reached 1.6000 re analysis must be performed to distinguish if this is actually a three drive pattern. On the opening of the market price can pearce below the trend line.
On the Weekly time frame we have a 61.8% retracement with lower high formation and oversold on the stochastic. As you could see on the chart price has breached and closed below the asymmetric triangle. On the opening of the market we can expect price to reach 138.800-139.000 or a straight continuation to the downside. our downside targets for this week are...