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EURUSD: 2 Potential buying Opportunities on My Radar It's been a week since I've found anything to trade on the Euro, but maybe that will change soon as I have 2 potential buying opportunities on my radar heading into today's trading day. Still in consolidation I'm not predicting any type of continuation move, rather I'm looking for previous support and resistance levels that I can take advantage of as this market continues to bounce back and forth. If a valid trading opportunity does not show itself at the blue kill-zone, I would then be looking to involve myself in the Bullish Cypher pattern at would complete down at 1.033. Not noted on my chart, but for those looking to get short, that resistance level comes in at 1.350's Good luck int he markets this week traders! And thanks for all of the great feedback on my "9 Habits of High Achievers" video. Good to see that a video like that does have your interest. I'll look to do more like that down the road. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
Long
by Akil_Stokes
22
GBPUSD: Advanced Cypher Formation at Previous SupportLast week I shared with you a video of a prediction made on the GBPUSD and what you could be looking for if you didn't get involved at the original entry. Well we never got the double bottom, however there is now a chance that we could see an advanced pattern formation complete in that same area. The three ways to attack this trade would be A) Strictly trade it as a Cypher Formation B) Just use the Cypher Formation as the entry reason for the bigger structure based trade C) Both If you haven't seen it, make sure you check out the Live Periscope that I did yesterday called\ "9 Habits of High Achievers" www.youtube.com Wishing you all a GREAT WEEK in the markets. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl @AkilStokesRTM (Instagram, Periscope, Snap Chat, Stocktwits)
Long
by Akil_Stokes
5
US Dollar Technical Outlook At Resistance! DXY!The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support. The gains in the US Dollar came about as various Fed members’ speaking engagements saw most of the FOMC members coming out hawkish on interest rates, with some expecting to see a rate hike as early as April. Unlikely as it may be, the Fed speak this week showcases the view that the broader consensus is continuing to incline to more rate hikes. Economic data this week from the US saw a mixed bag with durable goods orders released yesterday falling while housing data continued to remain mixed. Today’s GDP data is unlikely to see much traction with expectations broadly for an unchanged print at 1.0%. Even if the GDP data is revised lower, with the FOMC event done with, it is unlikely to see much movement on the markets. The week ahead will be exciting as March concludes and the markets gear up for the NFP data next week. Between now and then, the US Dollar is very likely to remain below the 96.5 – 96.0 resistance and 94.50 – 94.0 support. US Dollar Technical Outlook The weekly chart shows prices currently trading within last week’s range of high and low following the brief rejection of prices near 94.50 – 94.0 on the weekly basis. There is a high likelihood that this week’s price action could close with an inside bar, which is likely to signal a breakout. To the upside, resistance at 96.5 on the weekly is a level to watch, which if gives way could see the US Dollar rally back to the old resistance near 98.0. To the downside, with the support level coinciding with last week’s low, the 94.5 – 94.0 support will be necessary as a break below this level will see prices fall to 93.0 – 92.5. US Dollar Index – Weekly Chart likely to form an inside bar On the daily chart, price action is currently on the resistance level of 96.5 – 96.5. A bearish confirmation here could see prices start to decline but trade within the ranges specified. Further price action evolvement will be based on a break of one of the two levels, but there is a possibility for another leg to the downside to test the lower support at 94.0, testing 14th and 15th September lows. The 4-hour chart has signaled a reversal with prices forming a doji and a subsequent break to the downside near the 96.5 – 96.0 resistance. This should most likely see the US Dollar continue to push lower, but as with the daily chart, only a break of the lower support or the resistance above will confirm further direction in the US Dollar Index. www.tradingsignalreviews.com
TVC:DXY
by TheBanker
6