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BULLISH on NZDCADEntry: .8607 SL: .8575 TP: OPEN (Will be trailing SL) Technicals: Strong Uptrend on the DAILY chart and WEEKLY. Going down to the 4H TF, we see a bounce off major support which is also on the 21 EMA. Fundamentals: Scoring high on the COT data. Retail sentiment showing strong bias to the short side. Retail traders are 70% short. As mentioned previously, often time when retail traders favor one side by over 60%, statistically the pair will move the opposite side.
Long
by ErnieTrades_
#EURUSD next moveIn order to analyze EURUSD move we can use intermarket analysis as well, and as you can see for a past couple of month we have high positive correlation between EURUSD and TLT ( US 20 year treasury bond ETF). Right now that price has been trapped in a rangy area for a Days, we can say for a breakout of any side we need to see confirmation from TLT as well. which means if price wants to create a Higher high and penetrate the high we need to see TLT create new high as well and goes above the arrow on TLT curve. However, if TLT is unable to create new high but EURUSD does there might be intermarket divergence between these two assets and that perhaps could signal for a bearish divergence which can be followed by a downside reversal on EURUSD. A third scenario would be that they both fail to create high and turn to the downside which in this case EURUSD chance to break to the downside is higher. A lot of news can have impact on the movement of TLT like tomorrow unemployment rate but for sure the single most important one would be federal reserve fund rate which going to be announce on 14th of December , and if fed hike rates is lower than expectation that can bring TLT Higher and drive EURUSD Higher as well.
by mohemati
GBPNZD: A Complex Scenario AheadGBPNZD: A Complex Scenario Ahead After the price broke down from the previous Head & SHoulder pattern we can see that it didn't move down further. Price is moving within a large corrective pattern during all the month of November. I am expecting the price to test 1.9500 before it moves down again. However we have to collect data near 1.9500 before we jump into this sell opportunity. Targets: 🎯 1.9345 🎯 1.9245 🎯1.91300 Thank you and Good LucK!
Short
by KlejdiCuni
22
AUDUSD: Price Can Correct During the U.S Retail Sales DataAUDUSD: Price Can Correct During the U.S Retail Sales Data Today the main event for the U.S is the Retail Sales data. If we will have any surprise we may see the price to move down again and it can be ready for the next bullish move. On the other hand AUDUSD increased more than expected and it can begin a bearish correction soon. The U.S economy is still strong for the other currencies to rise in this way. Also the actual pattern it is not ready yet. We have to wait for fo the price to correct before the next move. Thank you and Good Luck!
Long
by KlejdiCuni
1
USDCAD: Let's Get Ready For The 5th Wave DownUSDCAD: Let's Get Ready For The 5th Wave Down After the reached an all-time high near 152 we saw that the correction began. On one hand, the BOJ is joining the market step by step and on the other hand the U.S elections and the U.S CPI data pushed the price lower than expected from the market. However, this was a necessary mover for all the JPY pairs. Price already created a bearish move after the lower-than-expected U.S CPI data. Now the price may correct for the 4th wave and we can see the 5th wave down very soon. Thank you and Good LucK!
Short
by KlejdiCuni
14