Buyers pushing EUR/USD to 1.12?Hi traders, EUR/USD has finally managed to break above its recent high and reach 1.1080, signaling that buyers are still active in the market.
The recent consolidation phase could now provide new momentum for the pair to reach our profit target of 1.12, as projected by the triggered bullish wedge pattern (and projected from the breakout point.)
The 1.11 level provides some short-term resistance for the pair.
We're already long in the pair in the CommaFX Trading Club, but you might also enter with a pullback to the 1.1060 level.
Fx
Possible EUR/JPY Short Position!! SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
SMP Strategy
Chart time frame - H4
Timeframe - 2-4 Days
A – Activating Event
Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 117.300
C - Fundamentals that may affect the pair
USD Retails sales on the 16th Oct @ 22:30 AEST
D - Trade Management
Entered @ .....
Stop Loss @ .....
Trailing Stop Loss@.....
Target 1 @ 117.30
Target 2 @ ....
Risk/Reward @ 4.5.1
Happy trading :)
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
The GBPUSD hit our target so watching for what happens nextThe GBPUSD has kicked on to the OfferZone where we expect to see some heat come out of the rally and a reaction lower for a long squeeze. The question is in what form...will the price pop and washout stops above the zone and then fall back below to trap some longs or will we see a correction lower from current levels to reset and build for another run higher. If price blasts straight up and through the level from here, then no harm done and happy to follow the action higher.
The EURJPY ran into resistance and is primed for a fallThe EURJPY has pushed headlong into resistance around 119.95 (previous daily high) and cleaned out a few stops above the level. We expect to see some sellers jump into the action for a move lower to test and potentially break the 119.150 higher low zone. Time to set the trap and squeeze out some buyers so watch for a shoulder entry short for confirmation.
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"CHFJPY: what to expect?" by ThinkingAntsOkDaily Chart Explanation:
- Price bounced on the Resistance Zone.
- Price broke the Ascending Trendline.
- Now, it has potential to continue its down move towards the Support Zone.
We are looking for sell setups on lower timeframes. Updates coming soon!
Weekly Analysis:
The Euro is on the move upThe EURO has had a good few sessions and the party does not look like it is ready to stop. Buyers remain in charge and targeting the OfferZone around 1.1094 so like the action for a BUY ENTRY through 1.1037. May expect to see some washout of recent buyers before a move gets underway.
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The GBPUSD is building for another push higherThe Pound has recently spiked higher thanks to some positive news on Brexit and the USD falling. The price action suggests another run higher and extension into the OfferZone around 1.2800 as there is more than enough fuel built up for a short squeeze.
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** Any comments and likes are most welcome and will be greatly appreciated. **
** With high quality alerts and correct Risk Management, you can learn consistency and grow your account **