$EURNZD Trade Update. In preserve mode with over 300% gain. $EURNZD Trade Update. In preserve mode with over 300% gain. This was a setup from yesterday we posted #currency #fx #forex #fxsignals
Forex-currency
Solid channel, looking for 200 pips either directionThere's a great channel on this pair, I'm looking for a break of the channel and a 200 pip run either direction.
For now I'm watching 1.7200 support or 1.7475 resistance, both look great for a break and a 200 pip move.
Pretty simple, if the break happens I only want to stay in the trade if the break out holds, any moves back into the channel will invalidate the set up for me, thus locking in profit very quickly.
Clear Triangle Pattern, with great Risk/Reward ratioOn the graph, there is the triangle pattern, one of the most wide known phenomenon in forex trading, which makes it one of the most reliable strategy as well: waiting for the break through and opening position in the appropriate direction of the breakthrough.
Good risk reward ratio:
If Long then we can put stop loss at around 1.1659 and take profit at 1.2338 --> R/R ratio of roughly 2.5
if Short then we can put stop loss at around 1.2055 and TP at 1.1198
Get Ready for the Rally EURUSD#EURUSD
#SELL 1.08
Final TP 400 pip
TP each 50 pip
SL 85 pip (H4 close)
KEEP M.M.
G. LUCK
EURUSD Still LONG on 1h Chart, Trump Presidency in Late JanuaryTrump backed USD is expected to be strong, and EURUSD pointing towards parity in the long run. Not yet, though. At least in the short term. There is still time until Trump officially walks into the White House.
Previous structure, Fibonacci (long term as well, grey line) and MAs could create a good long in the short term, until 1.07500 !!
Sell Range Highs... If You Like Money!I'll keep this short and sweet, I can't see too many other scenarios to be long EURUSD much earlier than parity (even then I think I still want to be short).
Anyway, Massive resistance sits around 1.0500 and we have a monthly pivot up at 1.0580, I will be looking for any reason imaginable to sell this pair at those levels, I'll probably start small at 1.0500 and add to it if we see 1.0580.
ENTRY ideas:
sell at 1.0500, 1,0580 with some trend line confirmation
STOP loss:
above 1.0675
TARGET:
1.0350-60 is great for near term targets
1.00 is my medium term target
.90 is my long term target (yep, I'm serious!)
MAs Crossing, Could USDNZD go down in the short term?Trade based only on MAs: 150 and 200MA crossing. Worth attempting short here.
Let's see if only MAs themselves are a good trade strategy indicators
(Well, we also have good resistance tested on 23rd Dec)
Good luck
GBPAUD UPCOMING 4H SHORT ORDERGBPAUD - 4H TREND FOLLOWING STRATEGY
GBP is losing momentum over a few pairs from current uptrend.
Lower highs are being made.
MA gaps are closing and should cross and stay below MA60 indicating new downtrend.
Currently looking for a test of resistance MA40 below MA60, with a bearish conformation candle for entry.
Additional strength to theory - Entry from resistance of MA40 would be after a break of the current major support line.
SL - Placed at high of previous 4h candle
EXIT - When price crosses back above MA40 and closes
USDCAD Short IdeaI was checking out USD/CAD amongst the several pairs on my watch list, and it looks like a decent opportunity to short. Support from October is @ 1.30036
big head and shoulders hopefully to resume- 150 pips to startNZD has been reluctant to move lower but it might finally be ready if we get confirmation here
The details:
short below ascending trend line
stops above recent highs
target lows of 0.6970 area and ultimately 6740 area
USDTRY Simple Double Top TradeChart is self explanatory, upward trend with double top formation, failed to set a new high
CADJPY Watch Out, possible short!CADJPY hitting resistance, tested unsuccessfully (could test again, watch out)
Technicals: Fibonacci Level, structure and over-bought RSI suggest short
Fundamentals: CAD gaining recently due to higher OIL prices (how long will that continue?), JPY's recent rapid depreciation (since Trump won elections) can generate capital outflows, so I believe JPY should be pushed up against main currencies, affecting CADJPY as well
Good risk reward ratio, if trend and Fib broken, long could generate good profits, but to me it seems short due to the abovementioned reasons
CADCHF IMPORTANT LEVELCADCHF reached a very important level!
Pair currenctly hitting support line valid from 2010
Blue line shows important structure, quadriple top formation since mid-2016
Likely to go down, might be good short, but careful, OIL has been in an upward trend for the previous days, thus CAD increasing in the short term
Wait for confirmation, if support broken, could be a good long (not very likely imo)
Good luck!
GBPTRY Pound-Sterling Not So Strong Entering 2017Follow up on my idea about weak GBP in the last month of 2016:
Major GBP pairs (GBP/JPY, GBP/CAD, GBP/NZD, GBP/USD) all experienced decline on Monday, 28 Nov, with most of them hitting resistance levels which are too strong to be broken despite the major GBP increase throughout November. With UK appealing against the court decision on Brexit, GBP could see drop in value until a final decision is made (expected to be made in 2017 with appeal starting on 5 December).
Technical indicators also show weak bullish signals with RSI, MACD, Resistance line and Fibonacci levels all suggesting a likely decrease in the following weeks.
NZDCAD increase till end of 2016Year and a half old support line
'Curve' structure from June 2013 never been violated yet
Daily close above 0.7 Fib Level (start from June 2013)
RSI and MACD bullish
New Zealand economy healthy as main macro indicators show!
Canadian dollar might struggle given uncertainty around OIL prices (OIL broke important support last week)
EURUSD Daily correction scenarios (details in comments)So there's a reasonable expectation for the EURUSD to correct after the huge rise seen these days. There are several old zones (suports and resistances) that could work, yet the H4 could prove evidence otherwise. Fundamental factors do in fact point to EURUSD not getting back to the pre-draghi levels in my opinion, but it rather depends on the NFP data tomorrow and the elections outcome among other factors. If it rises further, there are also old resistances that could act before getting to the previous levels. Let's see how it untangles!
