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BluetonaFX - EURUSD 1H Chart Trade IdeaHi Traders! We had a breakout of the short term resistance level of 1.10004 which then led to a pullback around the 1.10671 level as the market tried to re-test the main resistance level of 1.10760 which made a double top formation. If the market stays below 1.10671 we are likely to see a re-test of 1.10004 as support with the 100 moving average also near that level at 1.09983, any breaks above 1.10671 we are likely to see another re-test of the main resistance at 1.10760 and if that breaks, there is potential of a further push to the 1.11000 level. Please don't forget follow, like and comment, there will be plenty more to come from us over the next few days and weeks - your support is greatly appreciated! BluetonaFX
by BluetonaFX
2
Can the USDJPY get the trend back in play?Today's focus USDJPY Daily Chart Pattern Support hold/trend continuation Possible targets – 134.95 – 137.35 Support -133.90 – 133.70 Resistance –134.70 – 134.95 Indicator support – Price above MA with upslope CCI above 0 line Will today's push higher turn into something more on the USDJPY? Buyers so far have set the tone with a 0.42% rally to today's high. Some selling has taken hold in the last hour, but if buyers can hold the move, we are looking for a new move to test resistance, and if that area can be beaten, we could see a new move to 137.35 if a new trend continuation is confirmed. Support remains at 133.90. If sellers cut down today's move and break support, then this idea is nullified for now! We need to see support hold and preferably a solid finish on today's candle. The BOJ meets this Friday, and questions remain about policy regarding bond yields. Keep an eye on this, as we have seen some volatile meetings previously. Will we finally see a break of resistance after last week's latest hold? Thanks for stopping by. Good trading, and have a great day.
Long
by Eightcap
EURUSD: Strong pullback if this level breaksThe EURUSD pair is trading inside a Channel Up with the 4H MA100 supporting right on its bottom and the 4H technicals neutral (RSI = 53.201, MACD = 0.000, ADX = 21.383) due to a consolidation channel around the 4H MA50. If the 4H closes a candle over the channel, we will buy the breakout and target the R1 (TP = 1.10750). If however it closes under the Channel Up, we expect a strong pullback either on S1 and the 4H MA200 or the S2 and the 1D MA50. In these cases the target will also be 1.10750. Most accurate buy signal given by the 4H RSI at the bottom of its Channel Down. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
4
EURJPY: Pull-back expected. Buy on the 1D MA50.The EURJPY pair has hit the 147.750 Resistance after a strong rally that started a month ago at the bottom of the 1 year Channel Up. The key 1D technicals are firmly bullish (RSI = 65.143, MACD = 1.070, ADX = 55.694) suggesting a strong green trend but as the price is approaching the HH trendline, the greater the probability becomes for a 1D MA50 pullback. This is in line with the previous two bullish waves to the top of the Channel Up. Consequently, we expect a pull-back here or slightly higher and will be looking to buy on the 1D MA50. The target can be quite high but we will settle with a TP = 150.000. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
NZDUSD: Inverse Head and Shoulders. Excellent buy.The NZDUSD pair is under the 1D MA50, in marginally bearish 1D technicals (RSI = 44.978, MACD = -0.001, ADX = 16.625) but over the 1D MA200 and with S1 just below it. However the long term pattern emerges as an Inverse Head and Shoulders, a technically bullish formation that shapes market bottoms. Consequently, this is a buy opportunity for us targeting R1 (TP = 0.65400) on the medium term. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
2
EURGBP: Preparing a strong rebound.The EURGBP pair is currently on the 1D MA50, trading inside a long term Channel Up for more than 1 year. The 1D technicals are neutral (RSi = 51.179, MACD = 0.000, ADX = 27.770) meaning that this level is gradually turning into a buy opportunity inside the Channel Up. Every rally made at least a 5.00% rise, so we are targeting the top of the Channel (TP = 0.91250). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
4
AUDUSD: This Support is the pivot level we'll tradeAUDUSD is on neutral 1D technicals (RSI = 51.267, MACD = -0.001, ADX = 34.243) as it has been basically trading sideways for the past 30 days. The pattern looks a lot like the November/December 2022 Channel Up, which broke out to the R1. As long as the S1 holds, we will be buyers (TP = 0.71250). If the S1 breaks, we will take the loss and sell, targeting the S2 (TP = 0.62250). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
6
EURUSD Extremely bullish with a Double Target on the horizon.The EURUSD pair is on a Channel Up inside a larger Channel Up pattern. The 1day MA50 has just started rising for the first time since February 17th. As long as the short term Channel Up (dots) holds, target 1.11850 (Resistance A). If it breaks, aim for Support B and buy again, with a target even higher this time at 1.13350 (+7.85% rise such as the first leg of the larger Channel Up. Follow us, like the idea and leave a comment below!!
Long
by TheCryptagon
7
EURAUD confirming an Ending Diagonal Pattern? Today’s focus EURAUD Pattern Ending Diagional Possible targets 1.6045 - 1.5905 With the AUD pushing higher on Tuesday, pressure has resumed on the EURAUD. Price looks to have formed an ending diagonal, and today sellers have started to confirm the pattern with a new move breaking the pattern. Ending Diagonal patterns are best seen at the top of trends and can be a forewarning that a change in momentum is on the cards, but we need to see the pattern complete and be confirmed by a breakout. From here, we want the break to continue with a new move down to the target areas confirming the move. Traders should be wary of a new fightback that closes back inside the ED pattern. A lot will come down the AUD and if it can continue to hold its current run. Good trading.
Short
by Eightcap
Dollar vs Yuan Divergence US Dollar vs Yuan or US Dollar vs Offshore Yuan, technically they are establishing divergence. Above chart is my projection in time to come. When Dollar vs Yuan moves lower, this means we are seeing a weaker Dollar and a stronger Yuan. See the following link for its video version. The Chinese yuan, also known as RMB, is the official currency of China. It is used both onshore in mainland China and offshore in international markets. The offshore yuan, also known as the CNH (Chinese yuan - Hong Kong), is the version of the yuan that is traded outside of mainland China. It is traded in offshore financial centers, such as Hong Kong, Singapore, and London. The offshore yuan is not subject to the same restrictions and regulations as the onshore yuan. The main difference between the onshore and offshore yuan is that the onshore yuan is subject to capital controls imposed by the Chinese government, while the offshore yuan is not subject to these same restrictions. This means that the offshore yuan is more freely tradable and can be used for a wider range of international transactions, such as international trade and investment, while the onshore yuan is more restricted in its use. Offshore Yuan - Standard-Size USD/Offshore RMB (CNH) Outright: 0.0001 per USD increment = 10 CNH MICRO USD/CNH FUTURES 0.0001 offshore Chinese renminbi per USD CNH Option Google search: USD/CNH Monthly Options Contract Specs - CME Group Google search Frequently Asked Questions: USD/CNH options - CME Group Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:CNH1!Short
by konhow
2
USDCAD: Strong buy opportunity near the SupportThe USDCAD pair crossed under the 1D MA200 last week and is approaching S1 on a very bearish 1D technical outlook (RSI = 38.120, MACD = -0.005, ADX = 45.239). The two day bounce on the HL trendline and the fact that the 1D RSI hit the bottom of its Channel, constitute a short term buy opportunity targeting the 1D MA50 (TP = 1.35450). If a candle closes above the 1D MA50, we will buy again the breakout and target the LH trendline (TP = 1.37545). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Is AUDJPY set to take a short-term pause? After days of buying, we are seeing a small pause at this point in the day. The AUDJPY has started to see some red after a 5-day rally. Price is stalling at a previous level of resistance, seen at 89.90. We still see price on an uptrend with a break of the last downtrend. But buyers need to clear this resistance point to get the trend back on track. The MA supports the uptrend, as does the CCI being above the 0 line. A lower high has formed on the CCI, but our main focus will remain on price and the current level of resistance. If we see a higher break, we will look for a test of 90.50. If resistance can hold buyers and we see anew new move lower, we want to see the trendline hold, or it could be a sign that sellers are planning a deep move. Good trading, and enjoy your weekend.
Long
by Eightcap
EURUSD: Sell opportunity approachingThe EURUSD pair is near the top of the 4 month Channel Up with the 1D timeframe technically bullish (RSI = 66.302, MACD = 0.007, ADX = 34.138). When the RSI turns ovebought at 70.000 (or close to it), we will have the ideal conditions for a sell. We target the 0.382 Fibonacci level of the Channel on the short term (TP = 1.08850). If S1 later breaks, we will reshort and target the 1D MA50 and Fib 0.618 (TP = 1.07750). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4