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USDCHF H4 - Short SetupUSDCHF H4 Topped out on the intraday support/resistance price we have identified, two short entries presented, one dipped 1:1.5 and the second top test currently offering 1:1.3, we could start to see new lows being set if DXY breaks 91.00 to set new lows. Remember, we want to try and tie in as much as we can, but also wait for sensible confirmations. Pair comparison, key trading zones/levels, whole numbers, price actions, structure breaks. All this important stuff to give yourself confidence that your trade is thought out and well measured.
Short
by Trade_Simple_FX
1
GBPUSD H4 - Short SetupGBPUSD H4 We obviously like to trade between our zones, right? That's how we know where we are looking to enter, where we are looking to place our stops and take profits, we can easily monitor and measure our trades on this basis, hence our strategy 'trading between the zones'. We broke our 1.39 support zone and sold off circa 75 pips before correcting, bearing in mind, from 1.39 to 1.38 is only 100 pips, so 75% of that move was filled without a pullback. Now seeing somewhat of a pullback, DXY is in a key range (91.00 support), we could either see a bounce or break, so effectively sat on a possible pivot point almost. Eyes peeled, could see some bit moves for the week close.
Short
by Trade_Simple_FX
Pound is also ending the week on a firmer footing...Pound is also ending the week on a firmer footing, though this masks the whole truth as Cable remains much closer to worst levels between 1.3671-1.3918 parameters and only just held around March 25 lows when yielding to the partial Buck recovery and slipping beneath the 100 DMA (1.3687). In many ways it feels like the markets have been waiting for something to get their teeth stuck into after missing out on Good Friday’s NFP bonanza and with many centres also absent when the US services ISM hit record-breaking levels at the start of this week. Meanwhile, the Dollar index declined from a 93.113 peak to 91.995 low yesterday in relatively steady fashion from Wednesday following dovish FOMC minutes and comments from Fed chair Powell the next day echoing the message that while economic recovery prospects have brightened with additional fiscal stimulus alongside a speedy rollout of COVID-19 vaccinations, accommodative policy will not be removed until there is substantial progress on FAIT and full employment goals.
Short
by FTUKcom
8
EUR/USD 1.1900 upside complete...Before: The Greenback has been mixed against major peers for the most part and the DXY rangebound between 92.500-000 parameters on the wide, awaiting further direction from FOMC minutes or remaining Fed speakers. However, the index is looking more prone to a downside break having failed to extend gains over 21 and 200 DMAs (92.304 and 92.380 respectively) or resist the challenge posed by the Euro and Franc. Eur/Usd derived impetus from the aforementioned Eur/Gbp strength more than EZ PMIs and even comments from ECB’s Knot alluding to PEPP tapering from Q3 assuming the economy develops along base scenario lines, but gathered pace after overcoming resistance in the form of the 200 DMA (1.1889) before absorbing heavy offers ahead of 1.1900.
by FTUKcom
4