ClearEdgeFX

ClearEdgeFX

It appears buyers have really pushed this pair past the descending trendline. The impulsive move in the past hour suggests very strong bullish momentum and these types of moves are generally followed by another one in the same direction quite frequently. This is a fairly volatile pair so it's good to keep wider stops than on the major pairs. In our view the...

ClearEdgeFX Updated 

GBPJPY is slowly showing signs of breaking through the demand zone around the 185.00 key level. That said, it's not a clear break by any means, and given the steep angle of the ascending trendline we should expect the price to re-visit the blue zone and re-test the trendline. If buyers step in then we should see good opportunities to go long.

ClearEdgeFX

The USDCAD pair is showing short-term bullish momentum as it approaches the key 1.3000 level and the descending trendline. Should the break of the trendline occur we'll likely see a re-test of the recent supply zone around 1.3050. If we see strong rejection of that level it might be a good opportunity to go short and target the 1.2850 area. Worth reminding...

ClearEdgeFX

AUDUSD is appearing to be squeezed between two trendlines in a triangle formation. For short-term traders there might be opportunities to sell around the 0.7330 level or buy around 0.7230 if the right price action patterns occur. Seeing as we're slowly approaching the FOMC meeting price will likely drift in this range until then. Visit our website to receive...

ClearEdgeFX

www.clearedgefx.com Pressure continues to build between buyers and sellers. At the moment, it appears that we'll likely be seeing yet another re-test of the ascending trendline. In this case, it'll be the fourth one, and generally it's rare to see more than four touches with so much space in-between. Of course, that is not to say that it won't bounce off and go...

ClearEdgeFX

GBPUSD looks like it wants to retest the recent swing points around 1.5654 and possibly even 1.5800 if buyers gain control of the market. In the recent days we saw a bounce off of the supply zone (the blue box on the chart) along with a retracement to the 1.5200 level followed by today's impulsive move that suggests more price action to the upside. www.clearedgefx.com

ClearEdgeFX

Recent price action suggests a bullish bias for AUDUSD. Last week we saw a fairly decisive triangle break with price retracing to the swing high on the left side of the chart. Although the candle has not closed yet we might be seeing a pin bar forming at this key level hinting at a further upside for this pair. For more information check out our website and sign...

ClearEdgeFX Updated 

As per our analysis of EURUSD the other day a number of USD pairs are suggesting that we're about to see substantial moves across the board for these currencies. For short term traders there are a lot of opportunities inside these compression zones (we ourselves closed this week two profitable trades on EURUSD and USDJPY worth +110 pips) but once we see these...

ClearEdgeFX

EURUSD continues to compress and is coiling up for what could be an explosive breakout. The question, of course, remains which will it go. Will it be re-testing the March bottom of 1.0450? If it breaks the ascending trendline and takes the 1.0800 supply zone then all bets are off, especially if we take into consideration that tops and bottoms are generally tested...

ClearEdgeFX

We're keeping a close eye on GBPJPY to give us a hint in terms of where it'll be heading to next. As we can see the current level is parked on the bottom ascending trendline. If we see a break of this trendline we'll be interested in going short, if we see a rejection then we'll be looking for an opportunity to go long targeting the descending trendline. Clear...

ClearEdgeFX

This is a medium risk set up on the 4H timeframe for GBPUSD. As we can see we have a pin bar rejecting the descending trendline suggesting another downward move possibly retesting the bottom trendline. A breakout to the upside would obviously invalidate our set up, however it would likely present us with an opportunity to go long after a clear break of the trendline.

ClearEdgeFX

The chart everyone is currently looking at. No point to speculate other than noting that the pressure is increasing and at some point something will have to give.

ClearEdgeFX

For the contrarians out there we're seeing a medium-risk opportunity to go short on GBPCAD. We had a strong bearish candle rejecting the trendline with a 50% retracement followed by another rejection suggesting a downward move.

ClearEdgeFX

Understandably many traders (including ourselves) are weary of trading the Swiss Franc after the debacle earlier on in the year when its central bank removed the peg and in the process put some brokers and many traders out of business. Notwithstanding, in our view it still is worth it to explore any opportunity this pair may present us with which we think we'll...

ClearEdgeFX

We're seeing a nice wedge on USCAD with a good opportunity to go long. A bounce off of the the bottom trendline along with a retracement offers a nice RR ratio to take a long position.

ClearEdgeFX

We're keeping a close eye on EURJPY given its current location. The ascending triangle is hinting at a breakout to the upside. If we see a close above the 141.00 level then we'll likely take a long position. That said we can also see the ascending trendline being broken down at some point. Only then we'll consider taking a short position.

ClearEdgeFX

EURUSD has formed a triangle on the 4H time frame. We will not go long or short unless we see a clear break of the resistance level or the ascending trendline.

ClearEdgeFX

A major level of resistance is on the horizonAUDNZD but before we get there we might have a retracement to the trendline that's rather steep. We would not take any short positions until we see a solid reversal below the 1.1000 level.