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Currencystrength

Market News and Charts for August 12, 2019 EUR/NZDThe pair was not able to sustain its strength after it failed to break out from key resistance line, which will send the pair lower towards a major support line. The Royal Bank of New Zealand (RBNZ) cut its benchmark interest rate in response to the escalating trade war between the United States and China. This will cause an advantage for New Zealand exports against countries affected by the trade war. Amid the threat that U.S. President Donald Trump will impose tariff to the European Union, the European Central Bank (ECB) had hold on to its benchmark interest rate. The ECB will resume their interest rate meeting by September, which will also be the last time that the incumbent ECB President Mario Draghi will be attending the said meeting as he is about to pass the ECB presidency to the former IMF (International Monetary Fund) Director Christine Lagarde in October.
by Financebroker
AUDJPY 7/23/2019INV head n shoulder pattern rising wedge high high lower high 1HR RSI @ 28 30M RSI @ 22 - Price is ABOVE 800 MA on 30M & 1HR timeframe - Price is BELOW 800 MA on 2HR but above 200 and 100 MA A break of 76.00 will give us another leg up. If price fails here a re-test of 48.00 could come into effect. A stop loss below the head or right shoulder would be adequate for this trade depending on risk ratio and account size. GLHF and please like this idea if you agree! Entry: here SL: below right shoulder or head TP1: 76.00 TP2: 77.40
Long
by AschraM
NZD/CAD technical(Ichimoku,MACD,CurrencyStrength) & funadamentalTechnical: 1.Ichimoku: Ichimoku giving a sell signal. 2.MACD: MACD is also giving a sell signal. 3.Currency Strength: NZD is much weaker than CAD Fundamental: Due to the trade war between China & US, Chinese currency is weakening, so is NZD.. Crude Oil price gaining strength, so is CAD. Trading Plan: I'll Open short position when market opens (20 May) There is a news release of CAD on 22 May, I'll stay away from the market at that time(OR I'll put a large stop loss). And I hope I can Continue with this pair this whole week, Since there is no other news releases awaiting for this pair. I'll keep updating....
Short
by MilonDip
CAD/NZD technical and fundamental outlook...(Bullish)Technical: 1.Ichimoku: Ichimoku giving a buy signal. 2.MACD: MACD is also giving a buy signal. 3.Currency Strength: CAD is so much stronger than NZD. Fundamental: Due to the trade war between China & US, Chinese currency is weakening, so is NZD.. Trading Plan: I'll Open long position when market opens There is a news release of CAD on 22 May, I'll stay away from the market at that time(OR I'll put a large stop loss). And I hope I can Continue with this pair this whole week, Since there is no other news releases awaiting for this pair. I'll keep updating....
Long
by MilonDip
Possible USD/CAD short position!!SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-2 Days Actions on - A – Activating Event Market will meet resistance in zone @1.339 - .... and fall to the 1.33. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 1.33 FX:USDCAD Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 1.33 Target 2 @ .... Risk/Reward @ 2.5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
4
UJ seasonality opening bell signalsOfficially not a crash, but the threesome does throw of signals that make most of us think that this descent may go fast, very fast. Signals are for example the grouping of individual currency strength indices. For a longer period the currencies may move along the same path and look as if they are attached to each other. Which is in a sense true because of tight correlations and speculation on relevant pairs. As UJ seasonality is all about USD devaluation, the opening bell is the start of the reversal of USD. The slow descent becomes even more visible once the currency groups with its strong correlating economies of JPY and CAD.
by Deep-Peat-Shark
1
EURJPY POSSIBLE LONGKeeping a Stop loss of amount $100 USD we could easily place trade having wide SL which will be below the minor support level. It will have enough breathing rooms and as EUR, GBP doing well cause of there eurozone well reports on last Friday of the week. It went well for EURUSD and GBPUSD as we know. Getting back some strength on European currency I guess it will have some potential for our EURJPY long side and which could be a meaningful trade too. The Risk to reward ratio is for now 1:1.34 as the plan but depending on the performance of the pair it could be nearly 1:2 if the price float around or above the minor resistance level for test purpose.
Long
by jessi061
GBP/CAD - Further Drop ExpectedDue to the overall bearish sentiment in the GBP because of the latest developments regarding the no-deal Brexit and potentially a second referendum in November GBP/CAD pair looks weak and is expected to further slide after the Mondays' retracement. Furthermore, CAD is supported by strong fundamental data and the strong oil prices that are set to further rise in the upcoming days, (Brent broke multi-month/year highs). As a result, it is reasonable to trade the weakest currency, which is GBP (after JPY) against the strongest - CAD. The idea is to trade the break of the short-term uptrend with multiple confirmations to further confirm the bearish bias. 1. Break of the 50d EMA. 2. Break of the support level/38.2% Fib Retracement 3. Break of the longer-term uptrend line (red). For additional confirmation, I am going to use the 1h candle time filter. First target, 3 pips above 1.69 level with a potential break further down, will consider trailing the stop after. There is still a possibility that the GBP price will continue its move up through today's session, thus a break and close above the 200d EMA would cancel my trade set up. Wish all a great trading day!
Short
by CAS_Trading
Megalodon Trading - Dollar Short Term Pull UpMegalodon Pro+ Short term isolators turned green! All we do is set alarms and get notified when there is a buy or sell signal . Meaning, you can actually automatize your trading process with Megalodon indicators! Become a Megalodon today! -------------------------------------- Swing and day traders —> Look for 1D confirmation(green rectangle close) on Megalodon Pro+ Long Term Isolator. —> Look for 240 min & 60 min confirmation(green rectangle close) on Megalodon Pro+ Short Term Isolator. 1) Take the next red confirmation on the hourly if you believe the market state is bear. 2) Wait for daily confirmations(red rectangles) if you think market is more uppy. Learn more about it on our website. Go to our TradingView profile for how to gain access. -------------------------------------- MEGALODON PRO+ Long Term Isolator Megalodon Pro+ is designed for longer term and shorter term investors. Megalodon Pro+ is really simple to use. Megalodon Pro+ combines 16 different back-tested indicators, that each have more than 66% win rate. Megalodon Pro+ lets you turn on or off any setups that has been used for a better analysis. Megalodon Pro+ works with any kind of market state, and any kind of asset. Megalodon Pro+ can be used to set alarms as soon as a candle closes with a green or red bar. Megalodon Pro+ has more features than any other indicator in the market, these features can also be turned off in the settings: Looks for 12 different investing setups automatically and prints them out. Shows 2 different viewing options: Setups View that shows how many bear or bull setups are currently formed, Isolator View that shows Megalodon Price, Volume and Momentum isolators. Prints green or red bars for longer term signals. -------------------------------------- MEGALODON PRO+ Long Term Isolator is designed for longer term and shorter term investors! All you have to do is: 1- Apply it on any asset with 1Day time frame and combine it with 240minutes and 60 minutes Megalodon Pro+ Short Term Isolator. 2- Look for green bar confirmation on all isolators. 3- Define your stop losses. 4- Define your target before you enter. 5-Repeat -------------------------------------- Megalodon Trading Enlighten others
Long
by MegalodonTrading
Megalodon Trading - Euro Short Term Pull UpMegalodon Pro+ Short term isolators turned green! All we do is set alarms and get notified when there is a buy or sell signal . Meaning, you can actually automatize your trading process with Megalodon indicators! Become a Megalodon today! -------------------------------------- Swing and day traders —> Look for 1D confirmation(green rectangle close) on Megalodon Pro+ Long Term Isolator. —> Look for 240 min & 60 min confirmation(green rectangle close) on Megalodon Pro+ Short Term Isolator. 1) Take the next red confirmation on the hourly if you believe the market state is bear. 2) Wait for daily confirmations(red rectangles) if you think market is more uppy. Learn more about it on our website. Go to our TradingView profile for how to gain access. -------------------------------------- MEGALODON PRO+ Long Term Isolator Megalodon Pro+ is designed for longer term and shorter term investors. Megalodon Pro+ is really simple to use. Megalodon Pro+ combines 16 different back-tested indicators, that each have more than 66% win rate. Megalodon Pro+ lets you turn on or off any setups that has been used for a better analysis. Megalodon Pro+ works with any kind of market state, and any kind of asset. Megalodon Pro+ can be used to set alarms as soon as a candle closes with a green or red bar. Megalodon Pro+ has more features than any other indicator in the market, these features can also be turned off in the settings: Looks for 12 different investing setups automatically and prints them out. Shows 2 different viewing options: Setups View that shows how many bear or bull setups are currently formed, Isolator View that shows Megalodon Price, Volume and Momentum isolators. Prints green or red bars for longer term signals. -------------------------------------- MEGALODON PRO+ Long Term Isolator is designed for longer term and shorter term investors! All you have to do is: 1- Apply it on any asset with 1Day time frame and combine it with 240minutes and 60 minutes Megalodon Pro+ Short Term Isolator. 2- Look for green bar confirmation on all isolators. 3- Define your stop losses. 4- Define your target before you enter. 5-Repeat -------------------------------------- Megalodon Trading Enlighten others
Long
by MegalodonTrading
Currency StrengthCurrently, USD benefits from two forces that build up sentiment worth mentioning, the Peace Summit and the FED meeting. However, powers are already fainting. Buying power of both currencies is exceeding selling power, however in USDJPY (UJ) there can only be one the strongest. So here it may look JPY is being sold mainly but it's merely aiming down because in the UJ relation the balance of buying against selling is in favor of the USD. Direction of the individual currencies steer the pair of the two. In this case of chart layout, divergence sends USDJPY up and convergence USDJPY down.
Education
by Deep-Peat-Shark
3
Cautious LONG on AUDJPY. Countertrend Trade on Trendline Break. As I mentioned yesterday, I am keeping a close eye on growing signs of YEN weakness. As stated in that published idea , a break below the current uptrending channel is just one sign of possible trend change. Since this has been a strongly trending market, a trend change will likely look more like a range, the duration of which is still to be determined. I placed LONG orders on the AUDJPY as well as the USDJPY yesterday and currently up +85 pips and +65 pips respectively. Because this is a countertrend trade, my current target is set at 1:1. Depending on how the Aussie and Yen perform next week, I may adjust it to 1.5:1 or 2:1.
Long
by jrashaadtrades