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Weakness

USDCHF - What's next after the Bearish Wedge?Hi Traders! As you can see, the market is now in a downtrend. But the downtrend is very old and the power of it gets weaker. The last strong move the market did was the bearish wedge pattern. It moved down, then it made a consolidation wedge, after that it moved exactly that lower again. If you look at the H4-Timeframe, the support at around 0.96300 is not broken with strong momentum as it should for continuing the trend. Instead, it stopped moving and is even moving in the other direction, towards the Resistance. Possibly it is going to make a double top, but on the 1H-Timeframe we set our TP there. We recommend to buy the trendchange with a TP at the next resistance. Thanks and good luck :)!
Long
by swissmoneymakers
GBPUSD - Upcoming weekness in GBP-Pairs! - Remember the Brexit;)Hi Traders! The market started to rally on 10th October really fast. It started at around 1.22100 and rallyed until the resistance at 1.30000: That is around 800 pips in one week! Because of that speed, the volatility increased and then the sellers came in at 1.30000. They were pushing the price lower and now the market tries to go up again. Our expectation is that it will fail to go even higher. In addition we have the Brexit in one week, so we expect the GBP to become weak. ------------------------------------------------------------------ Thats when WE get in!!: We use the weakness of the GBP Pairs to sell the breakout. We only trade until the resistance, but we need a bit wider SL! Be prepared! Our target is to reach at least 150 pips and our Stop is around 100 pips. ------------------------------------------------------------------ Thanks to all and good luck :)! PS: Leave a like!
Short
by swissmoneymakers
Bullish pennant formation on USD/TRYDue to Turkish holiday TRY will be traded weakly until Thursday. At these times, values can be more volatile. We can clearly see the bullish pennant formation on USD/TRY. Tomorrow we have to carefully watch the value. If it will break the pennants resistance, value may go up to 5,62-5,65 channel. We can see that there will be a steep movement from the narrowed bollinger bands. Parabolic SAR shows the downturn and also moving average does not support the upmove so that we can also expect a steep down move. In case of a down break reaction, we have to watch 5,53 support line. Good luck all.
Long
by Emrut
NZDUSD Long 3 to 1 or more - USD WeaknessHello all - DuncanForex here with another trade idea With USD starting to realise weakness across the board EURUSD has flow higher Whilst GBPUSD has continued sideways due to GBP weakness EURUSD is doing well and continuation entries have supported this driving higher today. XAUUSD is a winner if you are in it (I'm not due to an overnight retracement taking me out before flying higher today :-( - however that is the way it goes. With NZDUSD _ I am looking for this to head higher on sentiment news (Unemployment rate and Employment change) and catch up with all the other XXX USD bullish price action So I hope you're in it DuncanForex.com is now live I look forward to seeing you there
Long
by UnknownUnicorn483829
GBPUSD - Potential Bullish Move tomorrow - Lets wait and seeHello all - DuncanForex here with another trade idea Following todays price action, I think the market has printed a Bullish Gartley pattern on the 1 hour chart. If the highs get broken , then my Buy stops will activate. I am looking for more USD weakness , however looking at correlating pairs USDCAD is very bullish and therefore could lead to more USD strength However it is important to remember Trading CAD, AUD and NZD against the USD is not the same as trading EUR, GBP and CHF as the first three are commodity driven currencies. If GBPUSD gains strength and USDCAD gains strength - GBPCAD is going to fly higher tomorrow. DuncanForex.com is now live Thanks for looking at my trade idea Duncan
Long
by UnknownUnicorn483829
Weekly trendline break may happenContinued Euro weakness and uncertainly may strengthen the Yen. Technical trendline break is a possibility if the pair close below for the week. Considering cloud analysis, its still very much bearish but it is at a level of support which may stall the move down. Will have to wait for price action to indicate otherwise to proceed with long sell of the pair. If trade is taken, there is a 300 pip risk for a profit of 600 for next support level.
Short
by MKJabsFX
USDJPY - Inside Day SHORT trade - could be explosiveHello all - DuncanForex with another trade idea. With Gold finally taking it's second leg higher this afternoon - (please see related trade below) - I am in turn expecting JPY to gain strength. if the inside day is printed tonight on USDJPY, I can see JPY gaining strength overnight and USDJPY falling lower rapidly (may even gap after 22:00 BST with lack of liquidity.) I have entered the market at 108.10 and I'm aiming for the 105 area. Thanks for looking Duncan
Short
by UnknownUnicorn483829
NZDUSD - 61.8% Retrace - Bat Pattern - Long 5 to 1 Win vs RiskHello all - DuncanForex here with another trade idea Following a strong NFP number on Friday, USD headed lower, however at present I am still bearish the dollar overall. If USD weakens tonight through the FED news, then I will keep this view. If USD makes new lows on XXX USD Pairs and highs on USD XXX pairs, then I will change my short term fundamental view and trade just price action accordingly. I entered a few positions with Buy Limit orders on the 61.8% level and with it creating a nice bullish pin bar on the 4 hour chart after , I am confident that this will head higher. With the Fed news this evening, it may move and retrace to this level and even make some slightly new lows in a Stop Loss hunt (I have my stops out of the way) However with the Price action, creation of a Bat pattern , 61.8% retrace on the 4hr chart - everything is lining up for a long position with more to take over the coming days as it cycles higher Thanks for looking Duncan
Long
by UnknownUnicorn483829