Forex-pips
Triple BEARISH Top On GOLD - SHORT OPPORTUNITY After big pump in GOLD price. There is formation of a triple descending top. Price should rice around 1356 and reverse into a bearsih trend to lower trend line.
!!! Trade canceled if price breaks triple top line !!!!
Bullish channel-NZDUSDAfter a correction till MA50, we can expect a new bullish movement till the daily resistance. Let's see how it develops the next days
Is that the 2.618?Descending line is the 2.618 parallel off of the late January highs. Looks to be right where we are resting.
**I'm already long and holding
Short Term Bullish idea for USDJPYOANDA:USDJPY
Short Term Trade Idea for USDJPY
Play a long towards 109.37 (1st target), even 109.82 (2nd target).
Stop loss at 108.400
RSI indicator also holding above 40% support level.
Alternatively , if price breaks below 108.400, there presents an opportunity to short towards 107.75 (alternative target).
107.75 also happens to correspond to a key Fibo level.
Big bearish movement expected-AUDJPYPrice is moving on a corrective structure the last days. Also, high frames show us a similar pattern as we see in 4H frame. We should wait for a retest&rejeciton of MA50 or breakout of the structure to think about this sell opportunity.
AUDUSD Long - 1:4 RR We may see a bounce off the 0.618 fib level from here which also acts as a support level as shown on the 2hr TF
Corrective structure setup- CADJPYAfter a big bullish impulse this pair has been on a corrective structure. Price has broken the structure but we must see a MA200 breakout to validate the setup.
NZDUSD Short - 1:3 RR !We have seen a retest of the support turned resistance at 0.6950 and i suspect we may see a drop in price back to 0.6820 at which point we may see a break of this support or a potential strong bounce off this area.
Corrective structure breakout-CADCHFWe can expect some bearish movement in this pair the next weeek. On a daily frame, we can see a breakout + retest of MA50. Lowers frames show us a short opportunity. Price rejected MA50 & 61.8% fibonacci retracement.
USDJPY LONG ???We have finally broken the Weekly trendline for USDJPY looks like usd jpy will be bullish
watching for a retest of the trendline and then we should break resistance and create a new high
USDJPY- TREND ANALYSIS- OCT 16-20Last week we saw USDJPY move to the downside on dollar weakness provided by NFP the previous week. The momentum was not so strong but it did start to make a bearish market structure as it approaches a major support zone around 111.250. This is also the first downside target for this coming week.
This week with the inverse correlation with gold's bullish momentum we can expect USDJPY to do the opposite and break towards our target. The 111 area is interesting as I would consider a nice break of this level to start a possible down trend in UJ to follow what Gold has started last week.
MA50+fibonacci setup- CJPrice is on a hourly bearish trend. CHF rejected 50% fibonacci retracement % MA50. Waiting for a breakout of the correction to open a short position till 115.00 aprox. A breakout above MA would invalidate the trade.
Correction setup-CHFJPYPrice has been correcting in the last candlesticks after a big bullish impulse.As we see, 38.2% fibo retracement has been rejected. Also, price is above MA50.
We should wait for a bullish breakout to open a long position.
USD/JPY Testing Major Zone USD/JPY has been in a long downtrend due to a weak dollar (fundamentals & geopolitical issues) and the strength of safe haven assets such as JPY. Recently though the dollar showed some life after bouncing off a major support zone mid week. A continued move up to the 111ish area is expected based on a minor change in market structure that made a FTR (fail to return) zone which created a HH (higher high). This FTR zone was retested when NFP numbers were released worse than expected but quickly the price started rising again as buyers jumped on a good opportunity. Based on the strength of the buyers at this moment I could see the previous 4hr candle wick being filled and price moving towards 111. If price gets to this area we will see how it reacts in this zone. The long term bias is down for USD and things geopolitically between them and NK don't seem to be improving. I can expect and look for a sell signal in this zone to take price lower. If this zone fails to hold 112 looks like the next upside target. Be aware that we just had a long downtrend so price needs to move through its waves.
USD/CAD (Loonie Pair) Mid-Week Potential Trend Reversal For my 50th tradingview idea I've decided to make a special analysis on an old pair of mine and one of my old favs.
USD/CAD has been in a long and strong downtrend after Oil news has been positive but the largest impact was made due to a interest rate hike for the first time in awhile. Now that the trend has lost some momentum and hit a major support zone that has been previously rejected. We can expect prices to rise if we breakout of this downward channel (could see a slight retrace). However if we reject this zone and stay in the channel I expect price to move down to the major support zone and then rise. It looks like some double bottom patterns are forming.
USD/JPY Breakout Season! Didn't get to post an analysis last week as I was gone on vacation and wasn't very active in the markets. The analysis from two weeks ago called for a period of consolidation for USD after a long downtrend. The consolidation occurred between two major zones. Now that orders are present in the market the trend still looks to be down based on the higher timeframes (daily,weekly).
This week I could see a breakout occurring either up or down (most likely). I have plotted my zones based off daily/ 4hr charts based on price action. Safe haven assets are on the rise as well as equities have dropped fairly recently, this has caused bullish momentum in Gold and the Yen. That being said I expect the negative correlations of USD/JPY drop for a rise in Gold; 1300 seems a fair target to the upside if all goes bad for USD expect price to break this level after it was tested earlier last week. Also a stronger yen will cause GBP/JPY to continue its trend after a brief consolidation period on the way down. However we could see price rise for liquidity before these moves take place.
Fundamentally the USD has been weaker due to the recent FOMC reports and Fed decisions also geopolitical issues as well as civil issues.This week on Friday we will have the NFP report, last months NFP was positive and USD went up nicely and showed a bit of life in what was the continuation of a downtrend. This weeks NFP could be positive or negative based on the data. USD could melt possibly as everything seems stacked against it right now but we still have a weeks worth of price action to play out so it all depends on order flow.
We will get a really good idea of where price is heading once this week is over as we should have a breakout direction with the added volatility of NFP week fundamentals.
AUDUSD - Bearish Bat and Cypher PatternsGood morning traders,
AUDUSD has completed the C-leg (1.27% extension of A-B) of a predicted Cypher pattern on the M15 timeframe.
If we break and close above the Weekly Central Pivot Point then we will be looking to take this long to the 0.79300 zone. Our preferred entry into this Cypher pattern will be around 0.79400 for Risk/Reward reasons.
We also have a small Bat formation lining up with our trade plan to break above the channel resistance before pulling back to retest structure. This will give us our long entry ONLY if we see bullish evidence at this level.
Bear in mind that we look to be setting up for a larger bullish Bat formation that's looking to complete the D-leg down at 0.78255.
All the best,
Mase.
