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US-DOLLAR

EURUSD testing major support, remain bullishBuy above 1.1956. Stop loss at 1.1901. Take profit at 1.2083. Reason for the trading strategy (technically): Price has dropped and reached our buying area. We remain bullish looking to buy above major support at 1.1956 (Fibonacci retracement, horizontal overlap support, ascending support) for a push up to at least 1.2083 resistance (Fibonacci extension, horizontal swing high resistance, fill price gap). Stochastic (34,3,1) is seeing major support above 6% and has started to bounce up nicely from that level, also displaying good upside potential for our rise.
Long
by MEX_Exchange
USDCHF forming a nice reversal, remain bearishSell below 0.9582. Stop loss at 0.9625. Take profit at 0.9483. Reason for the trading strategy (technically): Price has started to form a really nice reversal signal. We remain bearish looking to sell below major resistance at 0.9582 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 0.9483 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing strong resistance below 100% and we expect a corresponding drop from that level similar to the one we’re expecting on price. We can also see bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
1
USD/RUB not likely to go much higherDuring the recent trading sessions the US Dollar has made a rebound against the Russian Ruble. Due to that reason a surge is to be expected. However, various details reveal that the bulls might still pass this rate. First of all the pair is still located in the borders of the junior pattern channel down pattern .That means that it’s upper trend line will continue to provide resistance. Meanwhile, the pair is also located in a dominant channel down. In addition the pair is set to face the resistance of the various simple moving averages of the hourly chart. These factors combined reveal that there might be no short term recovery at all.
Short
by UnknownUnicorn890690
USDJPY approaching major resistance, prepare to sellSell below 109.40. Stop loss at 109.95. Take profit at 107.95. Reason for the trading strategy (technically): Price is approaching major resistance at 109.40 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level for a push down to at least 107.95 support (Fibonacci retracement, fill price gap, Fibonacci extension). Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from similar to the one we’re expecting on price.
Short
by MEX_Exchange
USDJPY bouncing nicely above support, remain bullish Buy above 108.04. Stop loss at 107.81. Take profit at 109.38. Reason for the trading strategy (technically): Price has started to bounce up nicely from our major support level at 108.04 (Fibonacci extension, horizontal swing low support, channel support). We expect a strong bounce from this level to push price up to at least 109.38 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is seeing strong support above 3.4% where we expect a corresponding bounce from.
Long
by MEX_Exchange
USDCHF testing major support, remain bullishBuy above 0.9536. Stop loss at 0.9493. Take profit at 0.9655. Reason for the trading strategy (technically): Price continues to test major support at 0.9536 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we remain bullish above this level for a bounce up to at least 0.9655 resistance (Fibonacci retracement, horizontal swing high resistance, price gap). Stochastic (34,5,3) is testing major support at 3.8% where we expect a bounce from.
Long
by MEX_Exchange
USD Index/DXY short idea (H1)Hello, All! USD Index TVC:DXY is currently forming the slightly incorrect bearish Wolfe wave. I would like to underline that this pattern is not a classic one as I'm ignoring extremely long lower shadow of the candle at point 4. After August NFP/employment/wages data missed forecasts, the USD crashed badly in just 1 min, but returned back to the pattern's structure almost instantly. In this particular case as an exception, I consider this move to be more the market's emotional reaction rather than the real formation of point 4. Other than that, this pattern looks solid and if the price makes a peak around point 5, this can become an interesting sell opportunity. GL and profitable week!
TVC:DXYShort
by OceanBlue