Get started

Trade-idea

EUR/CAD Buying Opportunity!Possible buying opportunity in EUR/CAD very soon! We are bullish on the Euro after a strong push up on Friday afternoon so therefore we can look for buying opportunities in the Euro pairs this week. EUR/CAD has shown a nice impulsive move up which has also broken 1Hr and 4Hr lower highs and structures. This therefore means that we are looking for price to move in a descending corrective manner to create a higher low in the market so that we can gain an entry. There are two possible places that i will be looking for price to react. Firstly you have previous structure coinciding with a 50% Fib retracement level which would be good confluence if price is stalling at this level. The second deeper entry would be at the 61.8% fib retracement where we could see price wick down to if it does not break the 50% structure level. For entry i will be looking for a strong momentum bullish candle on the 2hr time-frame. My take profit will be at the Weekly Key Level around 1.46500. Feel free to leave any comments!
by PercentageOverPips
EUR/CHF Trade Idea!Possible buying opportunity in EUR/CHF in the next few days! We have been going through a daily descending correction over the past couple of weeks, this shows a lack of intent for price to push lower. If we see buyers come into the market and push price up impulsively then there may be a possibility of a buying opportunity from a higher low point. The first potential entry will be after the break of 1Hr structures or a strong bullish candle from what looks to be like a smaller descending correction. The second entry will be a confirmed impulsive break of previous 4Hr lower high at which place we can look for a descending correction from which to enter. The EUR is bullish so this gives good confluence that we could be looking for some upside in EUR/CHF, we just need to wait for strong bullish price action to confirm intended direction of price before entry. Feel free to leave any comments!
by PercentageOverPips
2
🌐 MORNING MEETING - MARKET PREVIEW - JULY 07🔴 GLOBAL STOCK MARKETS Good morning traders. After yesterday's slight shifts towards risk-off (USD firmer and risk currencies softer), Asian markets closed mixed with Shanghai and Australia posting gains, but Nikkei and Hang Seng in the red. European markets recovered some ground after yesterday's sell off and trade in the green, with the DAX taking the leading position (+0.81% so far). 🔴 USD INDEX The USDx has enjoyed a strong Tuesday but entered into a consolidation phase this morning ahead of the FOMC Meeting Minutes (released at 8:00 PM CET this evening). Yields are softer, which could pose a risk for USD bulls during the day. The positive correlation between the USDx and 2-year yields is still broken (USD higher despite lower yields.) 🔴 COMMODITIES Comms hold up pretty well this morning, with Copper futures taking the lead. Could be beneficial for the AUD and some other commodity currencies. 🔴 CURRENCY STRENGTH Commodity currencies are the strongest so far (CAD, NZD, and AUD), while EUR and JPY are the weakest. AUD seems to pick up on slightly positive risk sentiment, the shift in RBA's monetary policy stance, and higher copper prices. NZD is also supported by market expectations about a hawkish shift in the RBNZ, while CAD enjoys higher oil prices. 🔴 ECONOMIC CALENDAR The FOMC Meeting Minutes is the main event of today that can have a strong impact on the USD. How will the hawks and doves argue their cases for a rate hike in 2022? Other important reports include the EU Economic Projections, and the CAD Ivey PMI and CAD JOLTS Job Openings (both expected slightly stronger). 🔴 TOP TRADE IDEAS FOR JULY 07 - Bullish bias on USD - There are not many reasons to turn bearish on the USD today, especially given the FOMC Meeting Minutes, which can fuel another bull run in the currency. - Bullish AUD against weak currencies - The AUD should be able to recover some ground (given risk appetite doesn't turn negative), especially against weaker currencies
by MujkanovicFX