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NZD/USD 4-hour Chart Show Bullish Stack With the lack of significant macroeconomic drivers allowing major currency pairs to go into a consolidation phase at the start of the week, the NZD/USD pair moves in a very tight range near the 0.6400 level. Signal to confirm further bullish movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further rally may be canceled if the price breaks the Ichimoku cloud’s downside border and falls below 0.6315. In this case, the pair may continue falling towards 0.6205. On the technical side, there is immediate resistance at 0.6418, a H4 double top formation since 12th and 13th of Nov. Above, we find resistance at 0.6465 (4th Nov. high), followed by the round number of 0.6500. On the downside, the 50-SMA is situated slightly below the price on H4 and is providing support. Close by, there is weak support at 0.6360. This is followed by 0.6320/00 key support. Take in mind, that in the early trading hours of the Asian session on Tuesday, the Producer Price Index (PPI) report will be looked upon for fresh impetus but is unlikely to trigger a sharp market reaction. What is your positioning on that pair?
Long
by ForexTrendline
NZDCAD Breaks Out From Wedge And Past Highs NZDCAD weekly Time frame is at a major support, the Daily Time Frame formed a wedge pattern and now the market broke out of it with a full body candle, and the last candle toke out already some more highs, I believe this has a lot of potentials to go Bullish, I see there is a past support to become future resistance in around 150 pips (see the green dotted line) I will probably be taking profit at that area unless I see the market is still going strong with full body candles I might take it to the down trend line. Reason For Entry: 1)Weekly Strong Resistance 2)Daily Wedge Breakout With Full Body Close 3) Market Already Making Higher Highs
Long
by ElyaStein
AUDJPY SHORTIf we look at the daily chart, we will see that there are 3 different resistances! 1. 200 EMA around 75,00 - 75,50 2. Third touch of day trendline 3. Resistance line of H4 trend The H1 penultimate candle realizes more than 50 pips downward movement. If it breaks the H1 trend line support, we go to levels around 74,00, where there are two strong levels of support: 38,2 Fibo Horizontal support line I expect a hold around this level and a slight return to 74,50 - 74,70, where there will be serious resistance.
Short
by ForexTrendline
EURUSD FED Decision At the beginning of the day, EURUSD is trading in the range, in anticipation of the FED announcing its interest rate decision later today. Currently EURUSD is trading at 1.1115. The US monetary policy meeting will end today and markets expect the FED to cut interest rates for the third time this year, amid trade tensions affecting US economic growth. Over the last few days, the dollar has gained ground against major currencies amid rising hopes of a US-China deal. However, an administration official said the deal may take a little longer to finalize and sign.
by ForexTrendline
GBPCAD - RSI Over Sold on Daily ChartThe pair is standing near the price level (1.6360) and hit the low for the week of October 2017. Tomorrow all traders are waiting the strong data for the both CAD & GBP and we can expect more new low near the level 1.6060. My view per to the both Daily & Weekly Charts this is a good area to start the long buy GBP/CAD because the Weekly Chart should go up again and mark up a resistance near the level price (1.6850) then can continue going down again. To find more about my trading plan includes the entries and targets, please visit the page (Markets Forecast) on the site NAJJAR INVEST - Accurate Forex Signals
Long
by SHARIEFNAJJAR
1
Buy Limit CAD/NZD @ 1.1870Buy Limit CAD/NZD @ 1.1870 SL - 1.1800 (-70 pips) TP1 - 1.2040 (+170 pips] TP2 - 1.2100 (+230 pips) Fundamental Analysis i. 10.15.2019 COT Reports show ~67,000 orders from non-commercial entities (Banks) Longing the CAD and ~56,500 orders shorting the NZD. ii. 2Y Canadian Bonds show a Bearish trend. iii. If the price of the 2y Bond goes down, the Yield goes up. If Yield goes up, the price goes up. Technical Analysis iv. Daily chart shows Support @ 1.1855 and Resistance @ 1.2050. v. To play it safe and get a cheaper price; 4H chart shows a good level of entry just above the 1.1855 Support between 1.1860 and 1.1880, hence the buy limit @ 1.1870. vi. Fibonacci Retracements from the swing low to the swing high show the 1.1855 Support right in between the 0.236 and 0.382 levels. vii. SL placed @ the 0.382 level (1.1800). *Thought about placing SL at the 0.05 level of 1.1695 but due to the quality of information from the COT reports i didn't see a necessity for it. Hopefully I'm right. *fingers-crossed* viii. TP1 placed 10 pips below the 1.2050 Resistance (1.2040). ix. TP2 placed 10 pips below what looked like another resistance just below the 1.2128 swing high.
Long
by aromanFX