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Medianlineset

#GBPAUD H4: CorrectingThe GBPAUD is moving in an extanded flat correction, but the trendis still down. We've just had a double top pattern, which usually marks the end of the rally. However, if it is broken, there's another set of resistance areas awaiting the price: - the downsloping Median Line (ML), - the prior lows at 1.777, - the range between 1.80 and 1,82. The sterling has been the weakest currency, while the aussie, next to kiwi and greenback, has been one of the strongest. So I expect more action to the downside, rather than upside.
Short
by ForceFollower
#GBPNZD H4: Correction UnderwayHere are the key points for this chart of GBPNZD: - Trend. I find the trend still DOWN, although it's has lost momentum recently - the correction has come across almost the entire median line set - Fundamentals: the NZD is still strong or strong-ish, while the GBP is the weakest currency in terms of relative strength. The NZD is also relatively oversold. - Support. Price may find the first support at the last minor lows (1.8595), the next one at the prior major high (1.83838), and another one at the median line, around 1.8. - Resistance. The rising price is expected to find resistance on the upper MLH parallel or the dashed outer parallel and after a test of the line bounce off of it to go down. - Trading opportunites: enter short at one of the resistance areas, with a stop-loss order above the corresponding prior high, looking to exit at some of the support levels with R:R of at least 1:1. Here's the summary of how I see the current situation in financial markets (as of Tue. 19.07.2016, 11:00 CET): The strongest currencies: SGD, AUD, NZD. The strongest major currency: AUD (currently oversold). The weakest currency: GBP. The leading markets: - GBPSGD - trending down; - GBPAUD - trending down; - XAGJPY - trending up. The developing potential entry opportunities: - SGDCHF - go long; - GBPAUD - go short; - GBPNZD - go short. ----------- Disclaimer: There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
Short
by ForceFollower
EURSEK H4: At The SupportHere are the key points for this chart of EURSEK: - Trend. Based on the blue pitchfork I find the trend still UP, albeit suffering from a severe correction. - Support. The falling price has found support on the 50% retracement (9.36575), which happened to be just above the prior high (9.35238) and a bit below 161.8% of the prior down swing's range size. The range between thses price is a particularly strong support area. There is also another support on the lower parallels of the median line, which can be anywhere between 9.335 and 9.360, but anyway I find the key major support level around 9.36. - Resistance. Price may stop and reverse on the black down sloping trendline, barely reaching 9.42, but I think we'll see more to the up side than that. I find the first resistance to be at 9.43 (prior major low) and the next one at about the 41.6-Fib retracement level, ie. around 9.464. Then, if euro is strong enough price, may even test the median line, and possibly reach 9.50. - Trading opportunites: enter long at one of the support levels, with a stop-loss order below the corresponding prior low, looking to exit at some of the resistance levels with R:R of at least 1:1. Here's the summary of how I see the current situation in financial markets (as of Sat. 20.02.2016, 20:00 CET): The strongest currency: JPY (however, currently overbought and quite likely to weaken a bit in coming hours). The weakest currency: GBP (however, strenthening). The leading markets: - XAUGBP - trending up; - XAUUSD - trending up; - XAUEUR - trending up; - XAUCHF - trending up; - GBPJPY - trending down; - Natural Gas - trending down; ----------- Disclaimer: There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
Long
by ForceFollower