US-DOLLAR
USDCAD 130.000 Next?127.800 previous high has been taken out and passed. Although October 27th candle wasn't looking to great I feel we may see 130.000 next
USDJPY at previous resistanceUSDJPY at previous resistance, would look to see a break of the trendline on the 4hr chart and look for confirmation
Dollar Yen Short Set Up For The Week AheadCurrently short, price has failed to break above the upper structure zone (red box) and problems in Spain helped it drop Friday PM.
The long term trend is downward so technicals and fundamentals are aligned to the downside. I expect a correction upwards at 112.000 where price would have to break into a new structure to go lower.
Price action above 115.500 indicates a potential move higher to 118.000+
Upper Structure - 114.000 - 114.500
Lower Structure - 111.500 - 112.000
Entry - 114.000
Stop - 114.600
Target 1 - 113.500
Target 2 - 113.000
Target 3 - 111.500
sell!overwhelming technical analysis facts.
However the fundamentals poses a challenge for going short.
Risk is 75%
reward if right is 175% FX:USDCAD
USD/ZAR 4H Chart: Reaches Dominant ResistanceAlthough the USD/ZAR pair is not that popular due to low volumes and fundamental moves, a review of the pair needs to be done due to a recent rebound against a dominant resistance level.
The pair recently bounced off the combined resistance of a long term channel up pattern, monthly R2 and weekly R3 near the 14.30 mark. As a result of the meeting of the resistance level the pair has begun to decline down to the 14.04 level, where the weekly R2 is located at. Most likely that level will be reached and a short term rebound will reveal the most junior pattern.
Meanwhile, one should take into account that there is still active the support line, which forced the rate higher during the last week.
AUD/USD SELL TRADE ANALYSIS Using technical analysis i've noticed a huge sell opportunity on 'Aussie' (AUD/USD). i plotted my fibs on the daily and notice a Fibonacci retracement at the 38.2 % level. This is an aggressive level which is indicating that price is heading to around 0.76250-0.7500. Also, this currency has been in a uptrend channel for quite some time now. Price finally created a higher high at my Fib A level and now it seem price wants to make a new lower low. it should also be noted that, a doji candle touched my moving averages and after there was a crossover of both. All of my previous statement are indicating a significant downfall in this currency pair.
USDJPY profit target reached nicely, prepare to buy Buy above 1113.16. Stop loss at 112.28. Take profit at 114.50.
Reason for the trading strategy (technically):
Price has dropped nicely and has reached our profit target from yesterday. We still see further bullish potential from here. Our goal is to remain bullish above 113.16 support (Fibonacci retracement, horizontal overlap support, ascending support) for a push up to at least 114.50 resistance (Major swing high resistance).
Stochastic (21,3,1) is seeing support above the 1 to 9% area.
DOLLAR INDEX DXY DAILY BUY IDEADollar Index Daily chart - I see a buy opportunity here for dollar pairs from this level we can also see a pull back is due on monthly chart. Daily structure is also bullish
aud usd analysis before the news Good morning everyone
I will be going through at least ten pairs today giving you my thoughts and analysis and why I feel the way I do on each analysis. Today looked at Aud usd from a friend of mine who pointed this one out. I can see this market going back into where the buyers were first dominant plus I like to buy stuff cheaper than retail price: so my if then statement is such:
if this market continues downward and pushes to the level I suggested where buyers are dominant and if the market reverses in that area showing me through price action, candles and other tools then I will be buying into this market , which I will post for everyone here. We do have news which can be a factor and can exaggerate the market so if positive this market may perhaps sky rocket to tp or if negative push a touch further down to that double bottom area on the left. Overall once this market hits my alarm for the area if it goes into then we will check back on it and see from their
your friend Kris
www.mymentortv.com
Usdindex perfect head and shoulder pattern If dollar break neckline then conform its make
head and shoulder pattern and its going to
our Expected targed .
Dollar and eurusd in positive correlation and
eurusd also make Head and shoulder pattern ,
yOU also check our eurusd ideas
trade with care and good luck
positive correlation with euro
Asad Ullah Jass
USDJPY remain bearish with key support brokenSell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has broken our key support and dropped strongly towards our profit target. We’re still bearish on this move and we need to wait for price to make a retracement towards our sell entry before we take another position. We remain bearish below major resistance at 112.65 (Fibonacci retracement, pullback resistance) for a drop to at least 11.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees strong bearish divergence and is finally below our 50% resistance level signalling a strong change in momentum.
USDJPY remain bearish with key support brokenSell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price had broken our key support and is hovering below it. We remain bearish looking to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. We also see that is has dropped below 50% meaning it’s the start of a strong change in momentum.
EURUSD - Bearish Movement over the coming weeks?EURUSD - Daily:
- Head and Shoulder Pattern
- 61.8 Fib Retracement
Dollar Index - More room to fall back before Bullish Movement?DXY Daily:
- Inverted Head and Shoulders on the daily. Would like to see a break of the neckline before making any big decisions on the USD Pairs
- Break and Retest of the descending channel
- Counter trendline being respected well currently
- Completion of right shoulder matches up with 0.5 / 61.8 fib retracement
Will be keeping an eye on GoldBreak and immediate retest of the descending channel, Hovering around a level of previous support at the moment
