USDJPY (ADDED ANOTHER LONG)I have added another long to my overall position and have moved stops to reflect the latest position. Lets see how this plays out :)
US-DOLLAR
USDCAD SHORT - Make or break for CADThe CAD is approaching its make or break day, an 80% chance of a rate hike has been priced in by the market, if that does not happen this trade is likely to get stopped out.
If it does happen expect them to extend lower possibly in an impulsive and sharp manner. As always the blue box is the area a turn lower for resumption of the major trend may occur and I will enter the market short when price gets in the box with a stop loss large enough to cover the box with a few extra pips for security.
EUR/USD Daily Update (23/6/17)I am seeing bearish-ness in control as long as 1.12650 zone holds.
A clearer break below 1.13 would further strengthen my bias towards shorting it.
USDJPY consolidating into a drop?On the H4 chart, we are looking at a very strong resistance level at 113.66. It has been a level which the pair failed to rally beyond for the past 2 trading days. With a head and shoulder pattern forming on the H1 chart as of this writing, we are confident to be short on this pair with a TP at 111.85, and SL above the head of this setup, at 113.69
Hit 50% Fib on gold. Could we be heading for 1190?We've hit the 50% Fib level from the low levels in December 2016 to the high in April time 2017. We tried to hit that high once more and failed. With NFP today confirming an increase in jobs in the US this has given buyers hope of an interest rate hike. But look what happened the last time that happened, USD JPY and the Dollar bottomed out. Could we be heading for 1190? 1200-1204 is a strong phycological support. I am watching USDJPY for a break above 114.40 to see where GOLD ends up...
USDCAD LONGThis pair was discounted from the high of 1.3795 when price became too high for the Bulls. Current price suggest a good level to long the USDCAD.
We will initiate a long position from 1.2887, if price manage to claim the immediate structural point of 1.2968 we should see further advancement in price towards 1.3457.
Trade with care.
Follow us on IG @charts247
#USDJPY TRADE SETUPHello traders!
I'm expecting a nice trade setup for USDJPY.
As of now, I'm waiting for a good signal from the structure highlighted in purple.
If it breaks to the downside, then I'm expecting to trade within the blue trend-line. However if it breaks this wave structure, then a short entry setup will be valid.
If a strong bullish moves happens, then we should expect a move to the supply zone.
As always, it doesn't matter which side of the market your trading, its the strong confirmations that will tells you which side to trade...
Happy trading :)!
- Abdulla
Selling USD - This example USDJPY SHORTSelling the US Dollar, the dollar has been strong for some time however the run higher is beginning to look extended across a number of pairs.
The USDJPY is shown here, i expect it to top out around 115 and intend to use that figure as timing for trades on other pairs.
The Yen is likely to remain weak but the 115 area may be reached at the same time as the USD tops out against the Aud, NZD,CAD or euro all of which might make good trades
EUR\USD is about to make a serious decision about its future.The European currency is about to go deeply down again and back to its real rate in the market.
It can recover itself up again but not for a long time, the crash is around the corner.
SHORT USOILUSOIL rally after last fundamental inventories and this month July is usually a big month for drawdowns: Over the last five years, inventories of crude oil have dropped by an average of 2.9 million barrels per week in July, according to the U.S. Energy Information Administration.As technically USOIL traded on his strong resistance with around 100% fibo retrace completion , if break will see 48.00 soon but as 4hr candle pattern we can see here a short term fall to re test support and the clue for next movement.
Sell USOIL.
@46.92/47.08
target: 46.12
Stoploss: 47.52
gud luck !
#forextuitions
USDJPY SHORTWeekly & Daily order flow of price is within an area or areas (order blocks) where price likely to reverse & changes direction. Added confluence with daily trend structure & distribution of price in Monday's trading session where liquidity underneath price wasn't taken out give me the heads up to look for shorts for Japanese yen.
Entry @ 113.74. If this position gets stopped out, I'll like to get back in @ 113.62.
USDJPY LONG SWING LONG3 ways UJ to play out.
Ideally I'll like to see price to pull back into a HTF block to take out liquidity then rally to take out stops.
New approach with my analysis using the features of tradingview to look at specific higher timeframes to add to my game.
USD/CAD *SELL*Already made alot of points on this pair and i can see this melting even further as it had broke another major support line.
Let me know your thoughts!
DXY ... WOW!! A major reversal is coming to the dollar It will affect all these pairs - NU/USD EUR/USD GBP/USD USD/JPY AU/USD
The economy in the USA is doing great. lowest unemployment numbers in 17 years. Fed is slowly increasing rates. Even if inflation isnt moving up yet, Fed is still raising rates to have some ammunition for the next recession. Keep in mind inflation is a lagging indicator, by the time you start getting it whipping through the economy, its to late. Also, the first thing to show inflation isnt durable goods etc, its Assets. Large Assets in the US are inflating, houses are increasing in value at a strong pace.
The market has been bearish on the dollar for a long time dating back to march of 2017, even as far back as November of 2016. Market is bearish, fundamentals are strong. It doesnt add up. So it seems the pressure is building for the dollar to be bullish. Now throw in the technical analysis with a very nice bullish Bat on the WEEKLY chart with an RSI at 33. We are not there yet but we are getting very very close to a turn around in the dollar.
USDCAD - Long-Term SetupIf usdcad weekly candle closes below bollinger bands, i am looking at price to continue down around the 1.275-1.283 range. My "alligator" indicator is showing a full open mouth, with potential of more downside. If you look back on the chart, the last few times the candles close outside of the bollinger bands the market usually continues for a minimum of another 100-200 pips.
This small continuation puts us right around the white support/resistance line. Look for a good sign of a reversal at this time, if a pinbar forms i will be looking at opportunities to enter long into UC.
EURUSD Trade IdeaCypher Harmonic pattern seems to indicate lower price for the EURUSD. Look for 1.093 in the days ahead. TSI bearish cross supports the idea. The DXY US Dollar is strengthening and should run.
NZD USD Short!New Zealand US short here. New Zealands reports of trade surplus were below expectations and yellen is expected to hype up the rate hike. Beautiful rejection of the daily resistance. Currently in a symmetrical triangle with beautiful rejection wicks. Nice crossover on the daily stoch. RSI showing it is overbought. I'm shorting at 7300.00
