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GBPJPY bearish continuation (100+ pips opportunity)Pound, unlike other currencies that enjoy appreciation vs safe havens under times of sentiment improvement and risk assets bull market has other economical and fundamental problems. Still, the big issue is coronavirus but Brexit uncertainties are weighing on Pound heavily. BOE didn't change rates but left the same as before, plus adding some more stimulus which markets didn't 'cheer' as enough questioning BOE's support to the economy. JPY appreciated the most last week vs majors and on secular performance as well on the latest Coronavirus fears. Indices and metals were lower as well giving risk-off signals toward the investors. GBP is still the best candidate to depreciate vs other currencies, but given the mentioned sentiment fact safe havens might hurt Pound more than risk-on currencies. As June is coming near its end sentiment shift might stay for a while and further corrections could keep ongoing. Technically this pair is bearish from higher timeframes (looking from monthly, weekly, daily) and broke its key near term support levels. 131-133 range might be in-play if we form support on 131, but even lower levels like 130-129 are not excluded due to strong momentum at the moment. IDEAS: Any pullback towards 133 as long as the price stays under and doesn't close green daily candle above is a selling opportunity. The best way to enter a sell would be to wait this pullback under these circumstances and enter on last known support breakout. I consider this the safest way to enter the continuation trend market. By doing it this way you simply eliminate the risk of fakeouts, early entries, and the most important counter-trend trap (bull traps). Trade at your own risk!
Short
by fxmonarchy
USDCAD: possible long opportunityUSDCAD is breaking the trendline formed since the beginning of this week. On the chart you can see some support/resistance areas + RSI divergence + price above all moving averages and not too far away... Stocks and oil are under pressure, thus risk-off is favorable for USD bulls. Another USD long already opened. Entering the position around 1.3560 (current level) with 1.3780 T/P and 1.35 S/L provides decent R:R=3. Wait for confirmation and relevant price action on the lower time-frame before entering the position. // Make your own analysis before entering position. Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
Long
by GIgor_021
EURUSD: possible short scenarioThe main fundamental risk is continuation of the risk-on in equities, otherwise we can expect another strengthening of the dollar, which proved to be a risk-off instrument. From techincal POV: -H&S chart pattern -RSI divergence Joining EURUSD bears from around 1.1262 price with S/L above 1.1360 and T/P around 1.1000 level provides decent R:R. // Make your own analysis before entering position. Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
Short
by GIgor_021
Dax daily: 12 Jun 2020We mentioned it in our analysis yesterday that previous days signalled a bearish correction and could further support sellers. This turned out valid and Dax headed south. The price even broke the support at 12 151 and almost reached the next support at 11 734. Important zones Resistance: 12 151 Support: 11 734 Statistics for today Detailed statistics in the Statistical Application Macroeconomic releases NIL Today's session hypothesis Dax opened the day with 166 points gap, correcting portion of yesterday's fall. We don't plan to trade the gap situation. The price is midway through yesterday's session and it doesn't provide good hints now. We are not fully clear about the direction, S/R zones are defined so we'll be eying either of those, depending on the initial momentum. Global Indices, including Dax, feared a second wave of pandemic yesterday and chances are that this market mood could further play a role in the upcoming days.
EUREX:FDAX1!
by FTMO
Dax daily: 11 Jun 2020Yesterday's session started with another sell-off and market participants closed the gap and retested the support at 12 494. The price then bounced back up but buyers were not strong enough to take Dax higher. The session closed at its daily low, right at the support zone of 12 494. Important zones Resistance: 12 494 Support: 12 151 Statistics for today Detailed statistics in the Statistical Application The gap is sized 217 points with low closing probability Macroeconomic releases NIL Today's session hypothesis Dax opens the session with 217 points sized descending gap. It is apparent that yesterday's bearish day sparked the downside momentum, propelled by the FOMC. After two weeks of growth, it is now clear the bullish trend ended. Dax is now priced 12 300 and the support of 12 151 is in the near vicinity and this is the first interesting S/R zone to take into account. As the resistance, we can mark the 12494 zone which is yesterday's support and the closing price of the session. The statistical probability of retesting this area today is low, yet this scenario can actually happen.
EUREX:FDAX1!
by FTMO
EUR/NZD - Long - Bearish Reversal I always like too think the charts don't lie and with the ECB meetings tomorrow all signs point upwards. Although, despite short term success in this diverging channel for NZD that is largely due to the risk on tone across the markets. The top tier 1.82000 resistance is a potential TP with both 100 & 200 day MA looking to diverge for potential change of direction to either side the ECB news could prove a 100+ pip winner by US session. For you oscillator fans the RSI indicates its oversold but further risk on tone could see us move into range from the upside breakout earlier this year. The bearish reversal touching the bottom of the channel points to a test upside.
Long
by darrenkav25
NZD JPY Shortlooking for a second entry on NZD JPY - depending on how the the market conditions look. We have a daily indecision candle - so looking for some good movements tomorrow lining up. Fundamental tension in HK will affect the NZD and Aussie at the sametime. So we expect some possible sell - off. from a technical S&D perspective we will look at the fibonacci retrace at 50% or worst case 70.5% retrace. However this is close towards our entries. on a daily level, we hit the supply zone and saw a nice wick rejection just the previous touch . Note: our entry points will change, this is purely guidance as the market is reactive not predictive. Do you like our work? Let us know and follow us on tradingview. Thanks, Lupa Capital Partners
Short
by LupaCapital
#AUDJPY [4H] Risk-OFF Alert. [85% : 15%] A fall Anticipated...SAXO:AUDJPY Has failed several times last couple of weeks to break through the 70 mark. As risk aversion kicks in including recent tensions between US and China. A risk off mode might be brought into the market. This can reflex in a big way into SAXO:AUDJPY as AUD is 4th most expensive currency at the moment and kind of over bought considering the slow economy looming. Here is a short setup for the upcoming week with a ratio of 85% to 15% in favor of short over long. Follow for more ideas... AHMEDMESBAH
Short
by AhmedMesbah
2
GBPJPY - Short - Take Profit 130.000Short trade recommended with a take profit of 130.000 Fibonacci Retracement at 0.382 struggling to break through the past 10+ days to the 0.5 retracement level. The real test of this trade once reached is the 132.500 level which has proven extremely difficult to break over the past 10 days. The upside today was based on a wave of fundamental news (Postive) and strong index performance across the globe seeing between 5% - 8% gains across the globe weakened the YEN. The evening seen a snap downwards due to minister being admitted to ICU. I expect to see downside in Asian session tonight (Provided no positive news moving futures upwards).
Short
by darrenkav25
1
AUDJPY Possible Bearish Continuation Price floating below the long period SMA 200 (red) and trading under the weekly and daily pivot point already indicting bearish sentiment for this pair. Comdolls aren't doing well and the risk bets are not good so far which we can see from the price action in most of comdolls related pairs like au,uc,nu. Yen and dollar ruling over the market this week so far which let me think that this pair might drop further lower if market mode are in risk off.
Short
by Anatta0
2
USDOLLAR Slides to 61.8% Fibonacci LevelFurther to yesterday's article , the USDOLLAR has continued to decline. It now finds itself at the 61.8% Fibonacci level of its previous impulse move. This level overlaps with price support (green shaded horizontal) around the 12,290 level. The rotation of capital into bonds as well as short term notes is putting pressure on yields. This is the the catalyst for the lower USD. We note the positive correlation between the 2 Yr Treasury Bill and the USDOLLAR (red rectangle areas). However, we again reiterate that the RSI for the T-Bill is oversold (blue rectangle) and that it will need to normalize soon. This is likely to provide support for the greenback, which may provide a floor to further greenback weakness in the near term.
FX:USDOLLARLong
by FXCM
USDJPY - SHORT - RISK OFF - NEW WAVE COUNTTECHNICAL STRATEGY I am looking to take this short (after a pullback) after this has been rejected from the top side of this descending triangle. I am also anticipating a new wave count and hoping to catch the 3rd wave. DESCENDING TRIANGLE RISK OFF SENTIMENT Another thing that drove me to sell this pair is the fact that the CBOE Volatility Index has spiked it to level after a very long time which is initiating that we are currently risk-off.
Short
by zorrays