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Pair is hesitatingAfter the pair reached lows for 21 months last Thursday, the price turned around and is currently in a correction. The pair is now in the range of 1.1185 and 1.1250.
These levels are the boundaries of the current channel and we expect a speedy exit from this range. Technical indicators point to a sale and we believe that after reaching the upper limit, the pair will go down.
Therefore, we advise you to take short positions in the pair and set a take profit near the marks of 1.1185 and 1.1160
EURUSD [Weekly] 1,10 or 1,18 ? Which level first ?We have seen whole day profit taking last Friday and that does not look good from bears perspective.
Of course bulls need to close day above pre ECB breakdown ( in that case 1,10 still possible )
But Im not going to be surprise if we see higher levels from here, based on possible demand on weekly chart
GBPUSD - 1H chart showing weaknessDaily is in a sideways market type but the 1H is showing weakness.
We rejected 1.3000.
Targets below 1.2958 are 1.2900 and 1.2800.
Caution as this week's Brexit votes are pivotal for GBP.
GBPUSD - Negative Momentum within Sideways Market TypeGBP remains within a sideways market type.
Momentum is negative ahead of key votes this week.
200 SMA and 55 SMA may provide turbulence.
Cable Long!Ahead of the big date : 29 March 2019, the pair has shown to be increasingly volatile with highs of approx. 1.3350 & lows of 1.2500 due to uncertainty in the market related to a no deal Brexit.
We anticipate that Brexit will be further delayed as Betfair is offering 1.2 for the UK to not leave the EU by the 29/3/19 and 5.7 for otherwise. A delayed Brexit would be bullish for the pair as the "fear" relating to a no deal Brexit would be temporary postponed.
Entry at this price is possible but carries a high risk as support is weak at this level.
Target Entry : 1.28491
TP : 1.32685
SL: 1.26477
R/R - 2.08
GBPNZD short possibilty Hi everyone,
GBPNZD shows us a good short opportunity on the long term. Starting on the Weekly chart, we can see a breakout a retest of both MA. In addition, price rejected 61.8% fibonacci retracement.
After a breakout of the retracement, we could see a bearish impulse on the long term.
I will keep updaitng the pair.
EURUSD CHANNEL TRADE UP THEN DOWN!It's been a long time since trading this pair. But I've decided to do a weekly breakdown of the pair. We have a had a weekly strong bearish closure with price breaking out of a consolidation range in which are my two navy blue monthly key level. I have had my 3rd trend line touch of my white descending trend line. This also eventually hit a -27% fib extension on a daily timeframe falling short by 15 pips due to respecting my channel trend.
What I am looking for is a slight pullback to the upside going into next to my daily key level purple zone of 1.1300 creating a lower high on Friday slowing down bearish momentum. Honestly can I see my inner trend line being tested again? possibly. not fully convinced though. It can be argued that the weekly closure has closed within the monthly key levels rejecting the break below and we can just range back to the top of the channel. but with a heavy bearish engulfing candle last week it is possible for continued bear going into next week. But before any bears I am confident of the pull back to 1.13000 which positions price under my daily moving averages. Brexit can also affect the Euro this week too.
Just to mention i have a weekly turquoise key level at 1.10500 which also matches up with a weekly fibonacci D1 Target this could be a long term target in weeks to come unless theres a strong bull turnaround and i can see 1.15500 being the next upside target if we break and retest continuation out of the bearish channel.
AUDUSD technical analysis: Bears in chargeConclusion for today’s AUD USD analysis: The AUD USD is expected to resume its current downtrend with 0.68264 as the minimum target.
The intraday timeframe of the AUD USD is investigated in this analysis from the January 02, 2019 price low of 0.67445 to current date. The chart pattern used to describe price action for the duration is a head and shoulders top pattern.
The implication of the pattern is ideally bearish, with a close below 0.70586 on March 06, 2019 providing confirmation.
The minimum target for the AUD USD which is ~0.68264 is derived by projecting the distance from the head to the neckline below the neckline as shown by the vertical arrows.
Lastly, the current bearish price channel (tentative) in the AUD USD is also highlighted. The lower boundary of the channel could offer support for price action, but is ultimately expected to give way along the path of the AUDUSD down to its minimum target
GBPAUD Short Elliot waves I feel that the GBPAUD will be going short on my decision point back to to the 2 or (B) depending the news
GBPJPY - LONG - FLAG PATTERN + RSI DIVERGENCEAfter a bullish breakout of the decending channel, price has formed a nice textbook style flag pattern which will break towards the upside.
Target is based on next resistance which is a confluence with Fibonacci Retracement.
USDCAD Weekly Harmonic Gartley Pattern Analysis and StrategyWe are predicting the formation and completion of the Gartely pattern as seen on the weekly chart . We are short here at the start of the 4th leg of the formation which is also at a major resistance zone. Our intermediate to longer term take profits are on the blue zones. FX:USDCAD
Dax - Signs of Exhaustion in Bull Market TypeDax is showing exhaustion near recent highs.
This pause may be due to the ECB meeting today.
Momentum readings are slightly negative but have space to move.
This may pull JPY crosses down also.
NZDJPY Harmonic BAT Analysis and StrategyWe are predicting the Harmonic Bat Pattern will be complete if price action breaks below the yellow trend line. Our strategy is to trade the 4th leg of the pattern. OANDA:NZDJPY
CADJPY - Bearish Momentum within Lateral Daily Market TypeThere are fundamental reasons to sell Cad in the short-term after Bank of Canada.
Beware of Daily market type and extended momentum readings.
Manage trades intraday as core position.
CADJPY expecting a big moveBased on nikkei and interest rate of canada cadjpy should rise more than 150+ pips from my point.
EUR/USD bullish rally inbound!?Following my Forex Market Breakdown Volume 5 youtube video, EUR/USD has played perfectly into our hands as outlined.
Price has fallen back into strong daily support between 1.29000 - 1.30000. On the above hourly time frame we can clearly see strong rejection to break below this level with perfect wick rejection which could, more or less, be market manipulation to stop hunt early long traders.
Look more clearly at this zone on the monthly time frame...potentially 6 strong wick rejections of this exact zone also coinciding with the previous broken lower high initiating a shift in the previous bearish trend in the long term.
Yes 1.14000 has previously been rejected as resistance but this only gives added fuel to my idea of a valid pullback to the downside to allow big players to obtain greater long entries.
The rest you will have to work out for yourselves... From here we have too potential long entry opportunities. Personally I would prefer price to retest 1.31000 before rallying to my first target of 1.136000 and then if successfully broken all the way up too 1.14000. However, price could also fail to retest 1.31000 and instead rally straight from here.
With all this in mind, it is important to take note of these two targets: 1.136000 & 1.14000.
Enjoy!
USDJPY - SHORT - AB=CD PATTERNAB=CD PATTERN
TARGET BASED ON 382 AND 618
WILL ENTER AT THE BREAK OF THE SUPPORT LINE OF THE RISING CHANNEL
GBPAUDGBAPUD- advance trade entry , based on higher time price levels that haven't been approached in over two years , aggressive trade so I would use bigger stops loss to give trade room to break could resets the 1.8450 price levels
Gold Downside Target MetAfter a rejection of the 1345 monthly resistance level we have retraced majorly. With a break of the daily trendline support level, we broke to the downside with great momentum trading into the 1300 key level. I am completely out of my short position now. Although due to the strong bearish momentum we could continue to the 1290-1288 region next week.
US Yield... Helping USDYEN One of the biggest movers overnight, JPY is down 0.41% vs USD in the G10 space. CitiFX Technicals points out that 10y in US have broken out and real yields are pushing higher. 10y JGBs still stay in the rare negative area suggesting USDJPY should push higher. We would caution around chasing this move here but expect to see buyers around 111.40-50 area. Yields seem to be leading the way and if we get a move towards 2.82% that could push USDJPY higher towards 112.50. We have seen Leveraged buying USDJPY topside
