USDCAD POTENTIAL *SELL*Hey guys, hope you guys have had a wonderful trading week. I just wanted to upload a quick trade idea as there is a potential opportunity for a sell. USDCAD has hit an area of resistance and is showing weak buying pressure as all the traders that went long are looking to close their position due to the area of resistance. Therefore i have executed a short position with a 1:2 RR.
HAPPY TRADING!
Forex-trade
Positive point of viewFeeling positive about the US economy and believe that we can see this symbol reach the highs that was made before the crash at around 29 May 2020, if the channel can hold. Expect a 17% rise. This is just my personal opinion and my believe in the US economy.
Tails with high volume will sign of U-turn : GBPAUD
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Parallel channel expected break-down . Selling in pullback is best opportunity to grab profit on this pair. The projection is mentioned at the chat for future prediction.
----------------------------------------(Weekly view)---------------------------------
Previous High 2.03533 ( double top )
Price is trading in still channel.
Series of tails found on the value high with an excess.
Tails with surged volume (its indicate U-turn)
Conclusion: highly prefer to trade in short selling side, therefore projected "falling wave" in the chart.
EURCHF CLOSE T BREAKOUT IN DESCENDING TRIANGLE Hello my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis.
As we can see that the pair is moving in a Descending Triangle and now its close to its breakout. One can wait for confirmation.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing demand. So let us know which pair you want our analysis on and we will get it for you. Do like and follow us.
Ryan.R.Lopes.
GOLD STILL FALLINGDepending on market open, we could see a gap to the upside to help gain a better entry. Im confident with recent price action for us to continue lower, as well as global macroeconomics to keep pulling us down. Wether we fall from hereat 1500 or peak at 1560 is not clear, but with that being said, if you scale in you short positions every 200 pips, you can increase the 1.3 R:R to something closer to 3 R:R. 200 pips may sounds like a lot, but with the recent volatility, we have been seeing daily moves of upwards of 800 pips, so be careful with your leverage. any closure above 1565-1570 is a total change in short-medium term trend
EUR/USD Good opportunity to BUY :) UPDATE HELLO TRADERS :
--The EURUSD reached the bottom of a descending channel that I’ve discussed since September of last year.
--That 1.0780 area is what triggered last week’s bounce.
--We can make 3 trades based on a possible bullish pattern and place the TP over the yellow
--This is my trade idea, Good luck !
Follow me on Instagram : pgforextrading
USDCHF Bullish, Retains Its Recovery Threats
USDCHF faces risk of further move higher following a positive close the past week. Resistance comes in at the 0.9750 level. Above here, resistance lies at the 0.9800 level and then the 0.9850 level. Further out, resistance stands at the 0.9900 level. On the downside, support is located at the 0.9650 level with a turn below here opening the door for more decline towards the 0.9600 level. And then the 0.9550 level. Further down, support comes in at the 0.9500 level. All in all, USDCHF remains biased to the upside on price strength.
EURJPY Downside Pressure Remains With Eyes On 121.01 ZoneEURJPY faces further downside pressure as it looks to weaken further towards its key support at 121.01. On the downside, support comes in at the 121.00 level where a break if seen will aim at the 120.50 level. A cut through here will turn focus to the 120.00 level and possibly lower towards the 119.50 level. On the upside, resistance comes in at the 122.00 level. Further out, we envisage a possible move towards the 122.50 level of the former level. Further out, resistance resides at the 123.00 level with a turn above here aiming at the 123.50 level. On the whole, EURJPY continues to retain its downside pressure nearer term.
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AUDUSD Vulnerable, Targets Further WeaknessAUDUSD threatens further downside pressure as it looks to weaken further lower in the days ahead. On the downside, support comes in at the 1.6750 level. A cut through here will turn focus to the 0.6700 level and then the 0.6650 level. A violation will set the stage for a retarget of the 0.6600 level. Conversely, resistance lies at the 0.6850 level where a breach will aim at the 0.6900 level. Below here will open the door for a run at the 0.6950 level and then the 0.7000 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, AUDUSD faces further upside threats on correction.
NZDUSD Looks To Recover Further Higher Towards The 0.6465 Zone.
NZDUSD the pair closed further higher on Monday leaving risk of more strength in the days ahead. Support lies at the 0.6400 level where a break will turn attention to the 0.6350 level. A break of here will have to happen to create scope for a move higher towards the 0.6300 level. Further out, resistance resides at the 0.6250 level. Conversely, resistance stands at the 0.6500 level. Further down, the 0.6550 level comes in as the next downside target and then the 0.6600 level. Its daily RSI is bullish and pointing higher suggesting more gain. All in all, NZDUSD faces further upside threats in the days ahead.