US-DOLLAR
Gold Short + Past StrategyUsing the intraday and volume script I have, the past strategy for Gold that I found most profitable was high risk buys and higher frequency trading. Overall though given past market prices, I wouldn't suggest that now due to potential losses on automation. Gold in a very short period of time, potentially less then weeks is about to hit the $1300 mark. Given the trades are higher on a weaker dollar but also since it is still a standard to some degree in other aspects of finance, I predict that short bursts have potentials for easier gains. They are less risky, especially if you were going to automate the buy and sell orders over time. Also the current state of the economy and inflation isn't critical for USD.
USDJPY UJ SHORTEURUSD playing out as expected. Retail short traders getting crushed.
Adding the low liquidity levels and USD weakness, we can expect a move to the 61.8 retracement level.
USD/PLN 4H Chart: Highly volatile surgeThe US Dollar is surging against the Polish Zloty in a highly volatile manner. The pattern, which is considered the junior one, has had its both trend lines touched even during a daily timeframe.
However, recently the currency exchange rate has been beaten down by a resistance cluster, which does not include the upper trend line of the ascending channel. Due to that reason the various resistance levels just above the 3.59 mark need to be watched closely.
Most likely the rate will pass them eventually, as the pair is being supported by the 55-hour simple moving average.
$USD (W) 2 year bullish bat complete w/ TL Confluence CURRENT PRZ: .382 FIB 2014-2017 w/ bullish bat beginning
Bullish
T1 12250
Bearish
T1 10890
Bitcoin looks attractive againBitcoin was bleeding for three days in a row and has fallen almost 20% from record peaks on the approach to the $20,000 handle which was almost reached on Sunday, when CME Group launched bitcoin futures.
The recent aggressive sales of the digital currency were due to another hack attack on a South Korean crypto-currency exchange Youbit which subsequently decided to file for bankruptcy after 17% of its assets were stolen. The exchange offered trading 10 cryptocurrencies, including bitcoin.
Meanwhile, negative statements from the Asian authorities added fuel to the flames. In particular, Japanese Finance Minister Taro Aso said that bitcoin had not been proven as a credible currency, while the central bank of Singapore issued a warning against investment in cryptocurrencies.
Another reason behind bitcoin’s unlucky streak was the news that Coinbase is launching bitcoin cash trading, which immediately sparked speculation on the threat of migrating bitcoin users to bitcoin cash.
Nevertheless, after reaching a one-week low at $15567 earlier today, the digital currency attracted buyers and got back into positive territory. Now, when the bulk of these short-term negative factors is already priced in, the asset looks interesting for opening longs again, though in this market there is always a risk of abrupt price moves
NZD/USD change of patternsInitially Thursday’s forecast for the Kiwi against the US Dollar continued on, as forecast. However, something strange occurred after the initial move was complete.
As Dukascopy analysts expected a rebound against the lower trend line of the previously drawn channel up pattern, the support of the pattern was broken. Instead the surge occurred slightly lower. That gave an opportunity to adjust the channel up.
In addition, that caused suspicion and a look at the larger scale was done. Due to that another larger channel up pattern was discovered.
Combining these adjustments an ascending triangle was discovered, which should be broken to the downside at the latest next week.
USD/CAD breaks out to the downsideThe USD/CAD forecast was precise. The pair broke out of the developed triangle down pattern to the downside. Moreover, the breakout has revealed additional patterns.
There are two newly mapped channel down patterns on the chart. One is a representation of the second one’s junior movement. By using these two patterns one can make future forecasts.
In the short term the pair should slightly surge to touch the upper trend line of the junior pattern. There it will have two possibilities. Either break the resistance or decline to reconfirm the lower trend line the dominant pattern.
AUD/USD charted after braking of patternsAs it was expected the AUD/USD pair surged eventually up to the 0.7690 level, where it was met by one of the weekly resistance levels.
However, that level is also serving as a reference point for a larger scale channel up pattern, which is one of the two freshly drawn patterns. One more discovered pattern is the medium term channel up pattern, who has reached the upper trend line of the previously mentioned dominant pattern.
Due to the fact that the pair has reached and bounced off notable resistance, it can be expected that the rate will decline down to the medium term channel’s support. However, the 55-hour SMA is likely going to provide hinder the decline.
USD/ZAR 4H Chart: Breaking massive patternThe US Dollar recently plummeted against the South African Rand. From a technical perspective the reason for the fall was the encountering of a Fibonacci retracement level, which is measured by connecting the high and low levels of the last decade.
However, that move was not as surprising as the fact that the following decline broke the support of a massive scale channel up pattern, which represented the pair’s rebound of 2017.
In regards to what the traders want to know, the pair is set to trade between two levels in the near future until it breaks to the downside and begins an approach of the 2017 low level at 12.32.
USD/HKD 1D Chart: Set for new heightsAll signs on the USD/HKD chart indicate that the pair is set to clearly continue the long term surge of 2017.
Although for the last half a year there was a retracement happening, the pair has touched the lower trend line of the 2017 up pattern and formed a junior channel up pattern, which has been guiding the currency exchange rate higher for the past months. In addition a short term pattern can be seen on the smaller time frames.
However, the currency exchange rate will still need to pass the upper trend line of the still active medium sized channel down pattern.
AUDUSD | Another Technical view | Bulls fighting for freedom!AUDUSD | Another Technical view | Bulls fighting for freedom!
Hello guys again!
Here is my technical analyse and price prediction about AUD/USD.
If you are looking for a Buy, you can check & get some information where is the best point for an open position.
Waiting on confirmation for EURUSD LongsWill wait to see how the markets open and watch Price action, Would be looking for this to break that trendline and pull back for a retest before entering long. This would also match up with my Bearish Bias for the USD (See my related ideas post)
NZD/USD - Tight stop, not much to loseExpecting dollar weakness so this could pop up. Extremely tight SL so not much to risk. Will see how markets open and check PA
Expecting the dollar to weakenHead and Shoulders, 61.8 fib retracement and daily resistance respected,
Also if we go down to the 4hr chart there was a doji candle this Friday. Bearish bias currently
USDJPY profit target reached perfectly, prepare to sellSell below 113.20. Stop loss at 113.61. Take profit at 112.04.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target. We look to sell below 113.20 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 112.04 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
USD/TRY 4H Chart: Short term decline in progressThe US Dollar is one of the many currencies, which are gaining strength against the Turkish Lira. Although the most patterns are similar on the pairs that involve the currency of Turkey, there are minor differences.
In regards to the USD/TRY currency exchange rate the most notable difference is the fact that the pair is a the moment trading in a junior channel down pattern. The pattern is set to guide the currency pair down to the support of the most dominant pattern near the 3.90 mark.
Afterwards a continuation of the long term surge can be expected.
USDJPY right on resistance once again, remain bearishSell below 112.70. Stop loss at 113.41. Take profit at 110.98.
Reason for the trading strategy (technically):
Price has shot down and bounced up to our selling area once again. We look to sell on major resistance at 112.70 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 110.98 support (Fibonacci extension, Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a strong drop from.
USDJPY bouncing with a bullish exit triggering further strengthBuy above 111.11. Stop loss at 109.95. Take profit at 112.53.
Reason for the trading strategy (technically):
Price is finally starting to bounce up nicely and a bullish exit has triggered further strength for a push up. We remain bullish looking to buy above major support at 111.11 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure, bullish divergence) for a corrective bounce up to at least 112.53 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees major support at 34% where we expect a corresponding bounce from. We can also see bullish divergence signalling that a strong reversal is impending. A recent bullish exit from our long term descending resistance-turned-support line also adds further strength to our move.
Correlation analysis: We’re expecting JPY weakness with AUDJPY expecting a bounce too.
