USDCAD BUY AREAI gave this area out last week and expect price may return, 1.13000 could be the support and right shoulder to boost USDCAD back to the upside.
Freeforexsignal
EUR/CAD cup and handle formation. Too good to miss… EUR/CAD cup and handle formation. Too good to miss…
A beautiful cup and handle have been formed on the EUR/CAD daily chart and is poised for a remarkable breakout, WHY?
The euro has been heavily longed by institutional traders compared to heavy short that was added last week to the CAD.
Oil has had a tough start to the week and will continue to fall (our bias) most economies were banking on a COVID vaccine/recovery by mid-October, which is now looking not so likely, oil reserves once again are stocking up and supply is outstripping demand, this is putting pressure on the commodity-related Canadian dollar.
The Euro, on the other hand, is proving to be as strong and resilient as the USD once was. With Brexit talks this week diminishing hopes of a deal, a no-deal Brexit is more likely, pushing the euro higher.
Watch this pair closely in the coming weeks and you shall be rewarded with some big pips.
Here's the One USD/CHF Chart to WatchU.S. Dollar / Swiss Franc is very close to hit lowers highs line and apex isn't far from here. According to this chart, upper breakout possibilities are higher compare to downward.
For short-term traders:
Target Price 1: 0.91200
Target Price 2: 0.91500
For long-term investors:
T arget Price 1: 0.91800
Target Price 2: 0.91920+
Look into the chart, USDCHF has tested 5.7 years low after breaking out the support trendline.
Therefore, short position cannot initiate after breakout of higher lows line. A downtrend will start the support trendline breakout only. That can be for 0.90500 to 0.90250 levels.
AUD/USD: Two PicturesAccording to this chart, AUD/USD will keep pushing upward. If you look at Bull Resistance and support trendline , It's positive ahead. Dynamic resistance and support trendline indicating the same.
It has touched both in last trading day. Hence, we can initiate new positions in the buy-side.
TP1: 0.7208
TP2: 0.7246+
Long-term target: 0.73000
The breakdown of the support trendline may show sideways movements. But focus on the trend changer level ( 0.71200 ). The breakout of this trendline means a downtrend. That could move for S1 and S2 .
EUR/USD Short-Term Turning Point Is HereAccording to this chart, EUR/USD may start falling soon. You must keep your eyes on the Trend Changer level.
EUR/USD may try to test 1.18750 and 1.18950 levels. You can pick it as a target for a short period. But don't buy under 50 MA . It has already hit my hurdle line.
50 MA Signal: Sell
Complete breakout of hurdle: Sell
Sell positions can be initiate after a breakout of the hurdle.
Targets: 1.17960 - 1.17450
NZD/USD at Control Price, should BUY or SELL?According to this chart, NZD/USD is trying to move forward. We may see a reversal from the control price and that could fly for T1 ( 0.6575 ) & T2 ( 0.6615 ). In the previous week, it has dropped -0.87% . Hence, keep your eyes on level of 0.6526 . This level breakdown indicates a strong sell signal. Later on, the NZD/USD journey starts for support level trendline (meantime, TP1 0.6500 & TP2 0.6470 ).
You can pick the control price or 0.6526 as a stop loss .
USD/CHF Making A Symmetrical Triangle & NEXT MOVEPut your eyes on the support level trendline ( ST ) and dynamic resistance ( DR ) first, USD/CHF is creating a symmetrical triangle. It's also changing trend by hitting at ST or DR . At present, it's at ST.
By that means, it will touch T1 ( 0.9120 ), T2 ( 0.9160 ), and T3 ( 0.9180 ) soon.
And yes, don't forget to notice the rejection zone , tail , and Stoch RSI ( throwing a sell signal ). It helps to identify the next moves.
U.S Dollar / Swiss Franc may show sideways movement or try to test the last rejection zone low level ( 0.9082 ). It can be fake candles.
As I described in the chart, the downtrend starts after breaking our 0.9082 level. And consecutive ( 2 or 3 ) -negative candles required to start it. That will blast USD/CHF directly to 05 Aug's low-level . Afterwards, 0.9020 - 0.8990 levels.
EUR/USD Positional: further upside.According to this chart, EUR/USD will keep moving upside. S-RSI crossover is confirming that. We may see the following levels soon: 1.1865 - 1.1915.
Keep your eyes peeled at the hurdle (1.1695) .
Breakdown of hurdle: 1.1640 - 1.1600 .
I don't recommend selling the EUR/USD until the breakout of my hurdle.
AUD/USD: turning down.Short positions below 0.7170 with targets at 0.7145 & 0.7115 in extension.
The crossover of hurdle (0.7190) lines means a short uptrend. Hence, don't initiate a position before confirmation crossover.
Hurdle Breakout(0.7190): 0.7214 - 0.7240 .
GBPAUD STUCK IN SIDEWAYS MOVEMENT I do favour GBPAUD upside, but we will need to break out of this little sideways channel we are seeing. I've highlighted the 2 levels in my group we have taken advantage of the latest upside move. I do see some more consolidation around here before the next big move, but i still think so weakness is on the cards for AUD..
EUR/GBP: What's Next? For A Or B?For (A) with targets at 0.9010 & 0.8975 in extension OR (B) with targets at 0.9065 & 0.9100 in extension.
GBP/USD Turning upAccording to this chart, GBP/USD will keep moving upside. We may see the following levels soon: 1.3055 - 1.3085 .
Keep your eyes peeled at (C) level.
Breakdown of (C) level: 1.2955 - 1.2920.
NZD/USD Intraday: further upside.Long positions above 0.6535 with targets at 0.6560 & 0.6600 in extension.
Alternative scenario
Below 0.6525 look for further downside with 0.6505 & 0.6470 as targets.
AUD/USD Trading Strategy for TodayAccording to this chart, Australian Dollar / U.S. Dollar will keep moving upside . S-RSI crossover is confirming that. We may see the following levels soon: 0.7178 - 0.7199 - 0.7220
Keep your eyes peeled at the key level.
Breakdown of key level: 0.7120 - 0.7100 below
I don't recommend selling the AUD/USD until the breakout of my key level.
USDCHF Will Bounce?According to this chart, USDCHF is an uptrend for a short period. As mentioned above, we will see T1 and T2 soon. Beware to strong support trendline. It has tested twice! We are currently seeing buying pressure because of speculators and volatility.
If breakout the support level:
It will hit 0.87760 (T1) - 0.85600 (T2) to 0.83541 (2015 January's Low Price).
EUR/USD Technical ViewShort positions initiate at the hurdle line with targets at 1.1720 & 1.1695 in extension.
Hurdle 1.1750
According to the chart, the breakout of hurdle lines means a short downtrend. Hence, don't initiate a position before confirmation of breakdown. And don't buy/sell in that mid area.
USD/JPY Intraday: Hurdle at 105.20Long positions above control price with targets at 106.60-107.20-107.75 in extension.
Hurdle: 105.20
Don't buy below the hurdle line.
USD/JPY Turning DownUSDJPY prices are falling since the mid-2015 year. In the 2020 year, it has made a low price of $101.180 . Are you still expecting up moves for the short-term? Then wait for the breakout of USDJPY-Bull Resistance .
According to my Parallel Channel (B), short positions in the range of $106 to $106.5 or below with targets at $105 - $104.5 - $104.260 in extension.
Breakdown of Parallel Channel (B) means a big explosion and double confirmation for sellers. Day traders can take benefit easily by examining fake-out.
For intraday traders: Don't mess after an upside breakout of $106 level. Wait, watch, jump, and earn!
What will happens after bursting out from USDJPY Hourly Support? I will update it soon.
LONG GBPCADGPCAD CORRECT MORE THAN 200 PIPS NOW PRICE SHOWING SUPPORT AND WE ARE EXPECTING A BUYING FROM CURRENT LEVEL
BUY GBPCAD @ 1.7395
TP1 : 1.7450
TP2 : 1.7530
USDCHF Trend Analysis & ForecastsAs per this chart, the trend continuation will drag up for 9.94600 - 0.95000 levels.
Keep your eyes on the support trendline, USDCHF has broken it. If it's not fake-out, 0.92360 - 0.91800 target levels.
The Big Move In EURAUD May Be Right NowEURAUD price begins to accelerate higher faster than other currencies from the control price (CP). It can hit 1.63500 - 1.64060 after crossing the CP level.
Hurdle: 1.62150
This hurdle is a game-changer. It could explode downward and prices may fall 1.61850 to 1.61360 levels.
The above information is sufficient for a smart trader to start minting money.
USDJPY GEARING UP FOR ITS NEXT MOVE Hey guys as I posted earlier in the week i expected price to make its way back down to 105.000 once again from there looking at possible buys. I think that we may have a final manipulation spike to the downside before a quick move back up to make new highs. This pairs taking a bit of patience but price is slowing down and showing good signs.
USDCAD BREAKING THROUGH MAJOR LEVEL!!Looking at catching an intra-day short trade off the back of a very bearish day for usdcad, this could be some early selling before data on friday, we often see moves like this early in the week.
