Foresignals
GBPUSD is on a bullish momentum! | 27th Oct 2021Price has been consolidating in a parallel channel. We see a potential entry at 1.37532 which is a graphical overlap and in line 61.8% Fibonacci extension and potentially climb higher towards our Take Profit in line with 127.2% Fibonacci extension. Technical indicators are showing bullish momentum. Alternatively, our stop loss is placed at 1.37155 in line with 50% Fibonacci retracement.
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#EURGBP 05 04 2021#EURGBP 05 04 2021
The price movement of this pair is characterized by strong price jumps. In 2019, it showed a rapid rise, but also plummeted from the resistance level of 0.928. Then she repeated the same rise-fall movement in early 2020. And already in April last year it touched the resistance level for the third time. From this level, the price reversed in the fall and, as a result, was able to drop beyond the August 2020 resistance line of 0.869.
Gbp/Aud Buy Setup 230 Pips to UpsideAs We Broke down from monthly to weekly timeframe we are seeing shift of momentum to upside. we clearly see structure now creating higher highs and higher lowers and now we see price retrace to the daily support area and
--> we see a nice double bottom with a nice higher low indicating price will have buyers power to push the market higher.
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GBP/USD - break below key level of 1.3000Yesterday GBP/USD price broke through the key technical level of 1.3000 and posted it's first lower low on the 4H timeframe since late July. Today price looks to be returning to test the 1.3000 support turned resistance zone, which is also in confluence with the weekly descending trend line. As a result of this confluence we are expecting a strong rejection from this zone followed by a further bearish movement with little in the way of support until 1.2750 - which would provide a brilliant R:R. We will wait for rejection from this level and then look to take a short position.
The strong bullish movement seen on this currency pair and a weakened dollar can not be ignored so we need the further confirmation before entering. Not until price has broken through the support at 1.2750 could this pair be considered to be back in a bearish trend which is why a greater certainty is needed.
A break and close above 1.3000 would invalidate our analysis and we would no longer be looking to take a short opportunity.
Two great sell opportunities on this chart for NZDUSDMid-term Forecast:
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.6791).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in an uptrend and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.
Take Profits:
TP1= @ 0.6585
TP2= @ 0.6501
TP3= @ 0.6383
TP4= @ 0.6166
TP5= @ 0.5920
SL: Break Above 0.6791
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Intraday Forecast:
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.6754).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 33.
Take Profits:
TP1= @ 0.6713
TP2= @ 0.6689
TP3= @ 0.6655
TP4= @ 0.6622
TP5= @ 0.6585
SL: Break Above 0.6779
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NZDJPY Weekly Forecast: 17-21 August 2020Good Morning Traders. All indicators are bearish on the chart with the upper trendline having acted as resistance twice and price seems to break through the the 69.55 level. I do not consider this to be a strong level and with no immediate strong support level on the daily chart I willing to place a long term trade on this pair.
On chart the next strong level is around 66.34 , a price level we last saw in May.
AUDNZD Update: Profit=659 pip SL=140 pip Reward/Risk > 4.7:1 Trade Setup summary:
Profit targets=659 pip (45 + 72 + 137 + 191 + 214)
Stop Loss =140 pip
Reward/Risk > 4.7 : 1
Current Status:
Total Profit: 309 pip
Closed trade(s): 117 pip Profit
Open trade(s): 192 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 0.6583 based on 'previous Forecast' at 2020.07.15 :
Closed Profit:
TP1 @ 1.0721 touched at 2020.07.27 with 45 pip Profit.
TP2 @ 1.0748 touched at 2020.07.28 with 72 pip Profit.
45+ 72 = 117
Open Profit:
Profit for one trade is 1.0740(current price) - 1.0676(open price) = 64 pip
3 trade(s) still open, therefore total profit for open trade(s) is 64 x 3 = 192 pip
Break Even 1.0676
Technical analysis:
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 66.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested UpTrend again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= @ 1.0721
TP2= @ 1.0748
TP3= @ 1.0813
TP4= @ 1.0867
TP5= @ 1.0890
SL= Break below S1
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Don't miss the great buy opportunity in AUDNZDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.06300). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDNZD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 66.
Take Profits:
TP1= @ 1.06700
TP2= @ 1.07100
TP3= @ 1.07500
TP4= @ 1.08300
TP5= @ 1.08700
SL= Break below S3
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EURUSD Short term short signal.EURUSD is trading in channel pattern in shorter time frame also it is forming head and shoulder pattern within channel pattern . according to chart pattern , we think EURUSD may come down towards the support 1 and support 2 as a target 1 and target 2 . one can initiate the trade with proper risk management and stop loss .
Note - trade with proper risk management system
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AUDJPY Near Strong Resistance Level.AUDJPY is trading in a Rising Wedge pattern. Considering this pattern it may continue the same for some more time, we may see a pullback in AUDJPY, as it is trading near the resistance line for the rising wedge. We may see price pullback towards support 1, as the first target then crossing point of support 2 and support of rising wedge pattern, as the second target. One can initiate a trade at this level with a stop loss just above the resistance of the rising wedge pattern.
Note - Trade With Proper Risk Management System
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USDJPY In Rising Wedge pattern.USDJPY is trading in a rising wedge pattern. It has tested the rising wedge pattern resistance and reversed from it. We may see the price pullback in USDJPY towards the support of the rising wedge, if it breakout of the rising wedge on the downside, it may test support line and bounce back to get back in pattern and test the resistance 1 and resistance 2. Overall we can see further upside on USDJPY.
Note - trade with proper Risk Management System
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EURUSD Trade For Short Side.EURUSD is trading in descending triangle pattern. it trading at resistance level of the descending triangle so we might see it move towards Support zone level from current level . one can trade for short side with stop loss just above the resistance line of descending triangle pattern.
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USDCNH BUY AREA DEDECTEDLooking at the chart, we can see a potential buy area between: 6.90379 / 6.85929, with a SL below: 6.85927 and a TP#1 area between 7.11314 / 7.03962 where I recommend closing 50% of your initial tradesize to give the TP#2 area "air to breave" and give you potentially more gains in the area between: 7.29197 / 7.18672
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DXY approaching support, potential bounce!DXY is approaching our first support at 95.67(horizontal overlap support, 100% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 95.67 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (89,5,3) is approaching support and we might see a corresponding bounce in price above this level.
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