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May2019

USDJPY / H1 / Daily Forex Technical Analysis / 5.30.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 30th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the overall structure price action seems to be printing in a double bottom. Looking at the 1 hour time frame we can see price action had an aggressive bullish bounce off the 109.1 region, if price action manages to pull back and maintain a bullish sentiment we look for an entry Long. Entry for a Long position near the 109.417 area, with a Stop Loss near the 109.125 region, and a target level area of 110.143 to possibly ensure a profitable trade with a 2.49 to 1 R/R.
Long
by FuturesForexClasses
EURJPY / H1 / Daily Forex Technical Analysis / 5.29.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 29th, 2019 and we will be taking a look at the Euro against the Japanese Yen. Looking at the overall structure for the EUR/JPY, price action is in a clear downtrend. Taking a deeper dive into the 1 hour time frame were looking for price action to bounce here towards the previous support zone at the 122.29 area which could act as resistance now. On a pullback to the 122.29 resistance area we will be looking to enter a Short if the conditions are profitable while exercising great risk management. Entry for a Short position near the 122.316 area, with a Stop Loss near the 122.473, and target profit level area of 121.843 for what can possibly be a profitable trade with a 3.01 to 1 R/R.
Short
by FuturesForexClasses
NZDUSD / H4 / Daily Forex Technical Analysis / 5.27.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 27th, 2019 and we will be taking a look at the New Zealand Dollar against the U.S. Dollar. Looking at the 4 hour time frame we can see price action is currently in bullish relief rally bouncing of the .648 region and moving above the .651 key support and resistance area, and continuing to rise to the next key resistance area near the .659 zone. We are currently waiting for the RBNZ (Reserve Bank of New Zealand) to publish its statement which could trigger an optimal short entry. Entry for a Short position near the .65908 area, with a Stop Loss near the .66190 region, and a target profit level area of .65102 to possibly ensure a profitable trade with a 2.86 to 1 R/R.
Short
by FuturesForexClasses
Dollar, 15 years of war, the terrible May & resignation of MayYesterday was quite volatile. Actually, nothing fundamentally new has happened. First of all, the pound has traditionally updated the new local minima. Theresa May’s resignation seems to have already been resolved for the markets. According to The Times, May will announce her resignation today (Boris Johnson probably will take her place). Despite such an obvious fundamental negative, we believe that the worst has already happened and taken into account the current price of a pound by the markets. So, any changes in the UK will benefit the British currency. Therefore, today we will continue to look for points for pound buying on the intraday basis and in the medium-term. Meanwhile, analysts are continuing to assess the potential effect of the trade war escalation between the United States and China. In this regard, quite interesting is the assessment of the chief researcher of the Chinese Center for International Economic Exchanges, who said that the United States and China are moving into a new reality of mutual relations, which can be called “fight and talk”. And it will last not for a month, two months or a year. According to Zhang Yansheng, this state will last for many years and will end no earlier than 2035. According to the expert, exactly that period of time deemed necessary to move from “irrational confrontation” to “rational cooperation”. The forecast is pessimistic, but it makes you think that the current reality is something serious and for a long time. Meanwhile, May was just a nightmare for the technology sector in China. Here is an instance: Tencent Holdings Ltd., Alibaba Group Holding Ltd., and Taiwan Semiconductor Manufacturing Co. the lost over a month is $ 170 billion of capitalization (!!!). A block of data on business activity indices in Europe and the USA was published yesterday. The situation is "not ok" in Europe. The PMI in the manufacturing sector in Germany is still below 50 (value for May 44.3). Germany's IFO Expectations Index is at 4-year lows. So, the main economy of the Eurozone seems frankly unhealthy. At the same time, the Composite PMI index for the Eurozone appeared slightly worse than expected, but it turned out to be above 50 (value for May is 51.6). So, for the euro buyers, there’s nothing to rejoice at. Moreover, the data from the United States appeared even worse. Sales of new houses in the US fell by 6.9% to 673 thousand units in April. At the same time, the PMI index of business activity US manufacturing fell to 50.6 points in May (compared with 52.6 in April). This is the lowest value since September 2009. Against this background, oil continued to crumble. Those readers who listened to our advice and recommendations should have earned good money this week. Our trading positions on the last day of the week did not change much: we will look for points for buying the euro against the US dollar, sales of oil and the Russian ruble, as well as buying gold and the Japanese yen. In addition, we start buying a pound.
by Trade24Fx
AUDUSD / H1 / Daily Forex Technical Analysis / 5.24.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 24th, 2019 and we will be taking a look at the Australian Dollar against the U.S. Dollar. Looking at the 1 hour time frame we can see price action holding support at the .68672 region. We were looking for a minor pullback towards the .6886 area to enter into a Long position. Entry for a Long position near the .68864 area, with a Stop Loss near the .68675 zone, to possibly, with a target profit level area of .69265, to possibly ensure a profitable trade with a 2.12 to 1 R/R.
Long
by FuturesForexClasses
1
USDJPY / H1 / Daily Forex Technical Analysis / 5.23.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 1 hour time frame we can see price action broke through the 109.917 and 110.155 key support and resistance areas and is currently in a minor retracement pulling back towards the 110.115 support area, where we will look to enter for a Long withing optimal parameters. Entry for a Long position near the 110.160 area, with a Stop Loss near the 109.918 region, and a target profit area of 110.827 to ensure a profitable trade with a 2.76 to 1 R/R.
Long
by FuturesForexClasses
EURAUD / H1 / Daily Forex Technical Analysis / 5.22.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 22nd, 2019 and we will be taking a look at the Euro against the Australian Dollar. Looking at the 1 hour time frame we were looking for price action to retest the local highs near the 1.62442 resistance area. And it did, Entry for a Short position near the 1.62357 area, with a Stop Loss near the 1.62588 region, and a target profit level area of 1.61689 would possibly ensure a profitable trade with a 2.89 to 1 R/R.
Short
by FuturesForexClasses
AUDUSD / H1 / Daily Forex Technical Analysis / 5.21.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 21st, 2019 and we will be taking a look at the Australian Dollar against the U.S. Dollar. Looking at the 1 hour time frame we can see price action had a minor retracement back to its previous lows not quite reaching them, so it seems as price action is setting in a higher low. If price action can mange to get some bullish continuation off the .68958 support and resistance area we will look for an opportunity to enter Long. Entry for a Long position near the .68957 area, with a Stop Loss near the .68826 zone, with a target profit level area of .69332 to possibly ensure a profitable trade with a 2.86 to 1 R/R.
Long
by FuturesForexClasses
USDJPY / H4 / Daily Forex Technical Analysis / 5.20.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 20th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we can see price action had a nice move to the down side and is now on a decent relief rally but it seems very corrective. We will be looking for price action to continue up a bit higher reaching the 110.986 resistance area to look for a short entry in optimal conditions. Entry for a Short position near the 110.667 area, with a Stop Loss near the 111.002 region, with a target profit level area of 109.737 to ensure a profitable trade with a 2.78 to 1 R/R.
Short
by FuturesForexClasses
US Dollar Currency Index / W / Weekly Forex Analysis / 5.19.2019Hello Traders, welcome to the Weekly Forex technical analysis. Today is May 19th, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the weekly chart just to get into the calendar, and have an outlook into the upcoming week. Looking at the Dollar Index here on a weekly time frame, we can see we got a minor correction and finally it moved back above the 97.465 support and resistance area, with a strong weekly close above this area. Going into this next week of 5/20/2019, we will be looking for the Dollar Index to follow through and continue to strengthen a bit more an target the 98.687 resistance area. On the over hand if we fail to move higher and turn bearish we would be looking to retrace back to the 96.493 support area.
INDEX:DXY
by FuturesForexClasses
USDCHF / H1 / Daily Forex Technical Analysis / 5.17.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 17th, 2019 and we will be taking a look at the U.S. Dollar against the Swiss Franc. After a pretty nice run up, price action has retraced back deep to the 1.00471 support and resistance area. We can see the move to the upside looks fairly corrective. We will be looking to get ahead of it and scout a profitable Short entry. First we will be looking for price action to break out of the bull flag pattern its currently in, and then Short the breakout. Entry for a Short position near the 1.01277 area, with a Stop Loss near the highs of the 1.01501 zone, and target profit level area of 1.00771 to ensure a profitable trade with a 2.26 to 1 R/R.
Short
by FuturesForexClasses
GBPJPY / H1 / Daily Forex Technical Analysis / 5.16.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 16th, 2019 and we will be taking a look at the British Pound against the Japanese Yen. Looking at the 1 hour time price action has reverted back to a previous area of support and resistance near the 140.2 levels. If we can get some sort of a short bullish bounce near this area, we would be looking for an opportunity to go Long. Entry for a Long position near the 141.161 area, with a Stop Loss near the 140.611 zone, and a target profit level area of 142.512 to ensure a profitable trade with a potential 2.46 to 1 R/R.
Long
by FuturesForexClasses
AUDCAD / H1 / Daily Forex Technical Analysis / 5.15.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 15th, 2019 and we will be taking a look at the Australian Dollar against the Canadian Dollar. Now keep in mind we do have some numbers coming out for China and the Aussie this evening that could give us some volatility. Looking at the 1 hour time frame we can see price action has retraced back to the .9325 support area, if price action holds this area we will be looking for an opportunity Long. Entry for a Long position near the .93260 area, with a Stop Loss near the .93123, with a target profit level area of .93646 to ensure a profitable trade with a 2.82 to 1 R/R.
Long
by FuturesForexClasses
3
EURAUD / H1 / Daily Forex Technical Analysis / 5.14.2019 Hello Traders, welcome to the Daily Forex technical analysis. Today is May 14th, 2019 and we will be taking a look at the Euro against the Australian Dollar. Looking at the 1 hour time frame we can see price action had a nice bullish continuation off the 1.60595 region. Price action seems to be slowing down here and we will look for a minor retracement to enter a Long position. If price action reverts back to the 1.6100 area we would looking for a long entry near this area. Entry for a Long position near the 1.6100 area, with a Stop Loss near the 1.60762 zone, and a target profit level area of 1.61622 to ensure a profitable trade with a 2.52 to 1 R/R.
Long
by FuturesForexClasses
CADCHF /H1 / Daily Forex Technical Analysis / 5.10.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 10th, 2019 and we will be taking a look at the Canadian Dollar against the Swiss Franc. On the higher time frames price action recently has been bearish as we broke the support area of .7552. Looking at the 1 hour time frame we will be looking for some kind of relief bounce back near the retest of the .7552 area. This is where we would look to enter Short. With an entry Short near the .75552 area, and a Stop Loss near the highs of .75661, with a target profit level of .75301 we could possibly yield a 2.3 to 1 R/R.
Short
by FuturesForexClasses
EURJPY / H4 / Daily Forex Technical Analysis / 5.9.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 9th, 2019 and we will be taking a look at the Euro against the Japanese Yen. This trade will have some dependency on whats going on between the U.S. and China trade relations. And we can see that we are at an area of support at the 123.350 region and it seems to be breaking downwards. If price action can break this area of support and break down to the next target zone, which would be the 123.087 area, with some bearish momentum we would be looking to enter a short. Entry for a Short position near the 123.093 area, with a Stop Loss near the local highs of 123.415, with a profit target level of 122.453 to ensure a profitable trade with a 1.99 to 1 R/R.
Short
by FuturesForexClasses
1
USDJPY / H4 / Daily Forex Technical Analysis / 5.8.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 8th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we are looking to see if price action will break this support area of 109.917. If we do get such an advantageous opportunity we would be looking for an entry Long near the 109.764 area. If we do get an entry at those levels with a Stop Loss below the lows near the 109.527 zone, targeting our profit level area of 110.288 to ensure a profitable trade with a 2.21 to 1 R/R.
Long
by FuturesForexClasses
GBPCAD / H4 / Daily Forex Technical Analysis / 5.7.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 7th, 2019 and we will be taking a look at the British Pound against the Canadian Dollar. Taking a look at the 4 hour time frame, price action had a nice bullish move off the 1.75343 support area and is now currently retracing back towards it. We're going to be targeting the 1.75343 support area for another possible bullish move off of it, if we get lucky enough to see a retracement back to that area. If we do get an opportunity, entry for a Long position near the 1.75349 area, with a Stop Loss near the 1.74943 zone, targeting our profit level area of 1.76558 to possibly ensure a profitable trade with a 2.98 to 1 R/R.
Long
by FuturesForexClasses
NZDCAD / H4 / Daily Forex Technical Analysis / 5.6.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 6th, 2019 and we will be taking a look at the New Zealand Dollar against the Canadian dollar. Looking at the 4 hour time frame price action has retraced back to the .89184 support area with no bullish conviction. Price action seems to just be hovering around this support zone, showing signs of weakness. With a break and a confirmation close below the lows of the .88758 zone we would be looking to take an entry Short. Entry for a Short position near the .88699 area, with a Stop Loss near the .89271 region, with a target profit level area of .873265 to possibly ensure a profitable trade with a 2.4 to 1 R/R.
Short
by FuturesForexClasses
EURAUD / H4 / Daily Forex Technical Analysis / 5.3.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 3rd, 2019 and we will be taking a look at the Euro against the Australian Dollar. Looking at the 4 hour time frame, we can see price action had a nice move off the lows near the 1.5721 support area. Looking at the overall structure price action may still have room to run up to a key area of support and resistance near the 1.6031 region. We may be getting ahead of ourselves here, but the NFPs may cause volatility to reach that resistance area of 1.6031. If we reach these levels we would be looking for an opportunity to go Short near the 1.60451 area, with a Stop Loss near the 1.60808 region, and target a profit level near the 1.59632 area for what can be a profitable trade with a 2.29 to 1 R/R.
Short
by FuturesForexClasses
NZDCHF / H4 / Daily Forex Technical Analysis / 5.2.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 2nd, 2019 and we will be taking a look at the New Zealand Dollar against the Swiss Franc. Looking at the overall structure on the 4 hour time frame, we may see a retracement back to a key support area near the .6720 region. This area has held as support many times in the past and we're going to see if we can enter a Long position off the .6720 support zone. Entry for a Long position near the .67152 area, with a Stop Loss near the .67032 region, with a target level near the .67417 area can possibly ensure a profitable trade with a 2.21 to 1 R/R.
Long
by FuturesForexClasses
GBPUSD / H1 / Daily Forex Technical Analysis / 5.1.2019Hello Traders, welcome to the Daily Forex technical analysis. Today is May 1st, 2019 and we will be taking a look at the British Pound against the U.S. Dollar. Looking at the 1 hour time frame we would like to see a breakout of the previous highs near 1.304 zone with a bullish close above these highs to confirm an opportunity to take a Long. Once we see that close beyond the highs we can look to enter a Long position near the 1.30501 area, with a Stop Loss near the 1.30222 region. With a profit target level near the highs of 1.31070 to possibly ensure a profitable trade with a 2.04 to 1 R/R.
Long
by FuturesForexClasses