Get started

US-DOLLAR

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
USD/RUB prepares for a surgeThe US Dollar has been depreciating against the Russian Ruble during the last month. However, recently the currency exchange rate has reached the support line of a dominant descending channel pattern. The dominant pattern has a very small angle of decline, which means that most likely we will soon see the formation of a new ascending junior pattern. However, the rate is most likely going to trade flat for some time, as it is set to face the resistance of the 23.60% Fibonacci retracement level and the monthly S1 near the 58.75 mark. Moreover, the 55-period simple moving average is approaching from the upside to strengthen the resistance cluster.
Long
by UnknownUnicorn890690
USDCHF shortHere we have a nice setup of USDCHF, retest of the supply&demand zone, we are in a dessending channel so we are trading with the trend, outside trendline and retest of an H4/Daily trendline inside, 61.8% fibs retracement of the last downtrend and 127.2% ext of the last uptrend on our reversal point . We are looking too to the completion of the AB-CD pattern. Always wait for a reversal sign and BREAKVEN when TP1 is hit. All orders will be close before NFP this week. Go check out my profile for more! Enjoy :)
Short
by ATMmachine