Short-trend
If USDCAD ends in a doji, reversal in direction?Here is a daily chart of USDCAD, as you can see, it seems to be making a trend cycle. If the daily candlestick ends as a doji it could be a possible turn in direction and a chance to short. If this happen, this short would probably be a retracement before continuing up.
Please trade using your own discretion.
USDJPY - ShortLooking like a good opportunity to short UJ. It's trading between the trend lines and just hit a resistance level from a year ago and failed to break it. This resistance is also right at the point of the trend so it'll have to break both. If it does break, we'll see a massive move up towards the ~116.00 mark.
The Stoch RSI is curently oversold and the RSI has just hit a trend line.
Trade with caution.
Gold Short to support I'm Looking for XAUUSD to head down to the 55-50 area , Most bullish attempts have been capped around the 1280-90's last night and there is still some room to the downside IMO . The 1270- 1275 area May provide support and will need to be cleared .
T1 - 1274.50
T2 - 1255.00 ish'
USDMXN Short to possible resistance line break, and further.I Shorted USDMXN at the break of the trend line last night before i went to bed, and woke up to a wonderful +$500. It is in a down trend on the larger time frame, so I expect it to keep moving down. Be mindful of the mini S/R line and expect a possible bounce there which could even take it back up to 17.54 where the top of the trend is. If it breaks the trend line, I will be aiming for 17.2-17.1.
GBP/USD SELL SELL SELL Not the greatest setup
but one to start the week with great risk reward :)
reasons for
1.Price has come back up to previous support trend line and has shown imediate affect
pushing price down
2.price created a bearish engulfing
3.Looks like price just made a correction and now is ready for a big drop
also remember the trend is your friend :)
FX CHART OF THE DAY: BTCUSD BREAKDOWN RISKBTCUSD is trading below 1st standard deviation from weekly (120-h) mean at 257.5 amid downward slope of the mean.
Price has probability to fall further down, if it stays below the 1st standard deviation.
Traders can pick shorts close to the level (257.5) and stop at the weekly mean (262.3).
Breakdown below recent lows will confirm the trade (254.0)
EURUSD: Still fallingAs always this is just a projection. Looking for an entry in the green zone. Should be able to keep a tight SL.
Projecting a BEAR move to approx 1.23592. Might see a slight retracement around 1.2391 to the 4H channel but I remain confident it will push below for a continuation.
Thoughts?...
Comments?...
WFC Rejected at Trend LineWFC bouncing off trend line yesterday and today again to form a shooting star. There is some hidden bearish momentum divergence seen on the histogram, and the stochastic is coming out of overbought levels without price having broken the previous swing point high. This does look like a bull flag forming, but I am looking for one more move down to retest support before the next move up. Profit target right in front of support for a healthy 1:1.5 R/R ratio.
Trend Analysis USD/JPY 15/7/14The price is going into the peak of a flag formation with the 101.180 resistance and the lower maximum points.
I consideration of MACD and BB there is lots of pressure towards this resistance line and the potential to break it for going down to 97.000 and maybe towards 94.000.