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EURUSD Technical Play: Fed Monetary Policy PrepEURUSD was boosted by Mario Draghi's remarks during Monday's session. The European Central Bank (ECB) governor expressed his content with wage growth and inflation but repeated rates may remain low beyond the summer of 2019. The trade tension between the US and China has been dominating the market for some time and it is expected to be the main theme in the Forex market until the end of 2018. Since 10th September EURUSD has been held in a bullish uptrend as evident from the 4hr chart. Selling on dips may have been a more appropriate strategy. Although the currency pair appears to be attempting to correct higher at the time of this writing it may struggle with the 4hr resistance (upper blue line). The 4hr uptrend is likely to lure many traders into EURUSD prior to the Fed monetary policy on Wednesday. The most likely outcome is a whipsaw reaction in an effort to clear stops below and above the trendline. Based on our analysis there is a greater risk for moderate dip lower, the entry price may be more appropriate at a higher level (near the 4hr resistance) or should a bearish breakout take place in today's session. The technical strategy is designed for the Fed monetary policy but may also kick into play in today's session should EURUSD break lower. Do note that this is a 4hr time frame, which may be broken down into shorter time frames for scalping by seasoned traders.
Short
by DDMARKETS
1
EURUSD NFP Strategy: Into the DipTrade tension between the US and China are contributing to the recent USD strength at the time of this writing. New tariffs on China may lead to a retaliation, causing some nervousness in global markets. As a result the focus on the Non-Farm Payrolls (NFP) may be limited, however, some reaction is often seen when the US employment figures are released. Initiating a trade at market price prior to the NFP may require a larger protective stop due to the volatile market conditions that are often seen upon the release of the figures. Our strategy is fairly straightforward, a buy limit order may be more appropriate. I highlighted on the chart the key levels in EURUSD. Do note that this setup is for experienced technical traders only. An appropriate entry price may be at 1.1547, protective stop layered at 1.1500, targeting 1.1620. The estimated duration for the strategy is no longer than 30 - 45 minutes. The risk ratio is poor but it is a short-term strategy. I must also highlight the risk of exercising the strategy as significant volatility may be seen. Over-leveraging is not encouraged. The aim of the protective stop is to contain losses rather than prevent losses. I will rarely post trade ideas with an entry, stop and take profit in tradingview, this is an exception. In an event EURUSD will continue trading lower prior to the NFP where it is only 40 pips from the entry price I suggest to cancel the order. In an event EURUSD does not trigger the entry within 15 minutes after the release I suggest to cancel the buy limit order.
Long
by DDMARKETS
NZDUSD 15min Scalp: Playing in the RangeNZDUSD is trapped in a 15min range at the time of this writing as shown on the chart. Scalpers may attempt to short and long NZDUSD off the resistance / support levels until one of the key levels gives way. Although scalping may be used our preference is to wait for a 15min close below the support (lower line), which may pave the way for stronger weakness in the currency pair. A break above the resistance may also lead to some gains, however. a bearish breakout may trigger a firmer price movement. Although it is not directly related to NZDUSD, Australia's GDP (due later in Asia) may trigger some volatility in NZD pairs and crosses.
Short
by DDMARKETS
EURUSD Hourly Signal: Bearish Love?Aside the trade tension between the United States and China (reports suggest President Trump may impose new tariffs on China as soon as next week), political tension in Italy contributed to EUR recent weakness. EURUSD hourly signal is fairly straightforward. EURUSD reached its hourly support, failure to post an hourly close may lead to corrective gains in Euro Dollar. Only in an event EURUSD breaks below the latter support (lower blue line) it may pave the way for further weakness. All the signals / strategies that are published are kept simple with the usage of technical or fundamental analysis.; Do not that this is a 60minute signal / strategy rather than a medium or long-term strategy that is based on the daily, weekly and monthly charts.
Long
by DDMARKETS
GBPCHF Signal: 30min Classic Breakout EntryThe strong gains that took place in GBP were triggered by remarks from EU Barnier. Barnier stated that the EU is willing to offer the UK a trade deal that has not been offered to any country yet. These comments neutralized Theresa May's comments when asked about brexit, saying that 'it will no be the end of the world' which weakened GBP earlier. In GBPCHF 30min chart there has been a 30min breakout as the support (in green) gave way. The strategy would be to wait for a 30min close above the resistance (in green, former support), which may pave the way for further gains, targeting 1.2660. Although the following may be less relevant for GBP but more for CHF, Canada's deadline to reach a trade deal (NAFTA) with the US is tomorrow (Friday).
Long
by DDMARKETS
GBPCAD Short Term Signal: Fast Pips?GBPCAD reached a 30min resistance level. A 30min close below the resistance may trigger corrective weakness as highlighted on the chart. It is important to note that the brexit negotiations are ongoing to avoid Britain exiting the EU without a deal. The USD tremors in the market were triggered by President Trump's remarks on the Fed and his interest in a weak USD to boost exports. Do note that that this is a short-term signal. Only a 30min close above the resistance may invalidate the signal.
Short
by DDMARKETS
USDJPY Technical Crossroads: Will it Break Higher?President Trump threatened a government shutdown should Congress fail to pass the bill for wall at the Mexican boarder and change immigration laws to merit points. We have not seen a significant reaction to these comments that were made on Sunday but we are noting a weaker USD against a basket of currencies. USDJPY reached its 4hr resistance, which was tested following the recent 4hr close. Rather than attempting a short trade in the currency pair, a 4hr close above the resistance may pave the way for further gains towards 111.35. The technical analysis is a fairly classic breakout strategy which may take some time to materialize. The Bank of Japan (BOJ) monetary policy is scheduled to be held during the Asian session, which may trigger some volatility in JPY pairs and crosses in the Forex market. Many wonder whether the BOJ will begin layering its plans for exiting the current Quantitative Easing (QE) program as it was hinted on several occasions in the past. Do not that this is a strictly short-term strategy, which is not aimed to target hundreds of pips.
Long
by DDMARKETS
NZDUSD (Long)NZDUSD currency pair appears to be keeping to the plan. With 0.69708 resistance taken out sights are now placed to the upside for possible swing trade to 0.71923 first. Further close above there will open up further upside potential to 0.74478 cluster resistance zone. On the downside, a daily close below 0.69531 should invalidate any bullish view on this pair for now. Further daily close below 0.68034 support zone will open up further downside potential to 0.66871 first. Further daily close below 0.66871 will bring downside bias towards 0.65741. And even further daily close below 0.65741 will bring more downside bias towards 0.64252. www.trading-equity.com
Long
by magbrr