GBPAUD is currently sitting at a key level of support and resistance. From this level, we can be looking for either a reversal or a break and re-test of the level.
USDCAD has been pushing down for several days now after forming a swing high and stop hunt. the pair has already retested the breaker once, however, I am waiting in anticipation of it being retested a second time before continuing further to the downside. Take profit is set at the relevant swing low and Stop loss is placed above the stop hunt.
GBPAUD has been pushing down from the high of 1.82660 and has now approached a strong 4h support of 1.8000 of 1.79800. From this level, we are beginning to see the slow down in momentum and some nice structure beginning to form in the 15min chart. Because of this, I am looking for one of two things. either for the pair to break the minor resistance and retest as...
EURJPY is coming back to retest the previous months low of 123.000 after a clear break to the downside. The value looks to have formed a clear level of what many refer to as support and resistance or supply zones. We have approached this area several times and always rejected/reversed. The pair is currently at this area of interest and I have a short position in...
As we are coming towards the end of the week I have one trade set up left in the pipeline that has not been filled. GBPAUD is slowly being to retrace after an extremely bearish week. As the institutions are being to take some profits for the week, we can hopefully see the pair pull back to around the 1.82000/1.82500 before shorting further to remove any further...
EURUSD trade forecast. Be vigilant we have the US presidential election coming soon.
As many USD pairs are heading towards or are already sitting at crucial levels, it is important that we take a minute and determine what effect we are expecting this high impact news to have on the currency. Although news tends to be the cause of volatility and not overall direction, something as significant as a four-year term may possibly have enough impact to...