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USD/SGD - market takes a breath before going LONG!Like many of the USD pairs this week, USD/SGD has shown a lot of strength, from it's lows at the start of the week it has risen 236 PIPS. Price broke to the upside from a descending daily trend channel last week, and this week price has broken again to the upside from a falling wedge. Both good indications that we may be seeing the start of a trend shift. Due to the moves experienced this week it is only likely that the market will pullback to retest a level of support - namely the zone between 1.3730 to 1.3715. At this point will be looking for an entry to go long on this pair. From their take profit targets will be 1.3775 and 1.3856. If a lower high is formed below this zone, this analysis will become invalid.
Long
by TheForexFellows
2
EURUSD Short-term Sell EURUSD has broken upwards of weekly downwards channel. I expect a retracement before looking at potential buys. Indicators: 1. Daily and Weekly RSI is sell zone. 2. Price currently at strong weekly resistance area (Look left). Entry at current price of 1.1608 or 1.1650 Safer entry: Wait for bearish daily candlestick close under resistance area of 1.1600 TP 1@ 1.1500 TP 2@ 1.1450 SL 1.1690 range (short stop loss implemented as this pair is very volatile at the moment) Good luck trading! Charles V CVFX Management www.cvfxmanagement.com @cvfxwealth Trading made simple
Short
by cvfxwealth
1
EURAUD Buy UpdateEURAUD is consolidating, as summer months typically consolidate. Bias is still upward buy direction Indicators: Pair is bouncing between a 300 pip range (red lines). Blue lines are trendlines, watch out for bounces off of them. Weekly Stochastic RSI in buy zone Area of support has held consistently Buy Entry: 1. Enter at uptrend line 1.6275-1.6300 area 2. Enter at support and bottom of consolidation zone 1.6110 area Sell Entry: 1. Sell at current price with short stop loss above top of consolation range. 2. Sell at top of consolidation range 1.6400 area with stop loss above consolidation range. I am trading majority of long-term buys with short term <1 day sells in this range. Good luck trading! Charles V CVFX Management @17% for July www.cvfxmanagement.com Follow me @cvfxwealth Trading made simple
Long
by cvfxwealth
NZDCAD Sell 800 Pip Opportunity - ConfirmationMy previous analysis of EURNZD Sell entry was to wait for a daily bear candlestick formation. We now have the green light. Entry: 1. Sell at retest of weekly downtrend line @ .8920 area. 2. Current price of 0.8897 Indicators: 1. Pair currently trading in downwards channel acting as resistance. 2. Daily Uptrend line has been broken with a close under it. 2. Weekly RSI overbought bulls are weakening. 4. Strong Daily Bearish Candlestick close TP levels at past support/pivot levels. Good luck trading! Charles V CVFX Management www.cvfxmanagement.com @cvfxwealth Trading made simple.
Short
by cvfxwealth
Tyree Thomas Jr use Kobane Trading Plan on 4 hr Eur/CadTyree Thomas Jr uses the Kobane Trading Plan that was taught to me by my mentor IM Academy's educator Curtis Kobane Branch on the on IM Academy's TV live forex training session. I use the trend lines analysis to trap the market and the Fibonacci retracement tool to mark the sweet spot and also to mark the supply and demand zones in replacement of the traditional indicators. Curtis Kobane Branch taught me how to trade naked because I did not want to trade using the traditional indicators.
by Tyreejr