ClearEdgeFX

ClearEdgeFX

In the short term USDCAD looks like it'll re-test the support level at 1.2000 but then it's anybody's guess what will happen. A bounce off of support may lead to a break of the descending trendline and another run at the 1.2800 level. On the other hand, a break of the ascending trendline would likely mean a drop to the 1.1400 zone.

ClearEdgeFX

We continue to see downward pressure on EURCAD. The last two weeks saw strong rejection of the resistance level provided by the downward trendline. A 300-pip stop loss around 1.4175 could make it worthwhile to aim for a target of around 600-800 pips targeting the support zone.

ClearEdgeFX

The chart more or less says it all. We likely will be looking at two scenarios : break of the upper trendline or a break below the triangle. Major points of support reside around 1.3700 and 1.3200 levels. A break to the upside would likely reach the 1.5300 level with a possible move toward 1.5800. We'll be keeping an eye on this one to catch the opportunities that...

ClearEdgeFX

The weekly EURUSD chart is showing a lot of tension between bulls and bears. The only question is whether we're going up or down, and that of course will depend on the outcome to the seemingly never-ending Greek crisis along with the upcoming Fed announcement with respect to the expected rate hike. It's going to be quite a battle with potential for substantial volatility.

ClearEdgeFX

AUDUSD looks like it's poised to break to the upside after a recent sequence of higher lows that suggest buyer pressure. Of course we have to be mindful of the Fed meeting this Wednesday that may result in a lot of volatility in the opposite direction testing the blue support zone. Should the buyers win this battle by breaking the 0.7800 barrier we expect the move...

ClearEdgeFX

Another good triangle opportunity on USDJPY. The hourly timeframe is presenting a breakout opportunity that should occur in the next 6-24 hours. We should be aiming for around 50 pips on each side.

ClearEdgeFX

Short to medium term opportunity on USDJPY on the hourly time frame. We're looking at four possible scenarios: 1) upward break of the trendline should at a minimum yield around 30-50 pips; 2) we could see a strong rejection of the trendline as well, and in that case, we'd be taking a short position targeting the bottom support area; 3) the last scenario is a...

ClearEdgeFX

Generally we prefer to trade trend line breaks, but in this case GBPUSD may look like a good opportunity to go long. The pin bar rejection of the trendline suggests and up move to fill up the triangle with two targets: 1.5500 and 1.5575 and the SL will be 1.5255.

ClearEdgeFX

As we can see the triangle is contracting on the daily timeframe and we'll likely be seeing a breakout no later than sometime next week. No need to speculate which way it'll go at this point, let's wait patiently to see who's got the stronger hand.

ClearEdgeFX

Looks like EURCAD is at an interesting juncture due to today's relative CAD strength that's playing out across all its parings. What we'll likely see is a rebound off the trendline back up to the 1.40 level and then a strong downward push thorugh the trendline with a possible target area of around 1.36-37 (basically the bottom trendline that's extending from the...

ClearEdgeFX

Posting this right before the AUD news in the next 15 minutes so this chart could look different. In any case we have two scenarios ahead of us: either we'll re-test the 2.00 level or it'll drop to the rising trendline. A break of the trendline would suggest a move of another 300-400 pips (this pair moves quite a bit) but a bounce back up would lead to a lot of...

ClearEdgeFX

Another good short-term intraday opportunity on AUDUSD. A break of either trendline should be good for around 30-40 pips with a stop loss placed on the opposite side of the triangle.

ClearEdgeFX

This triangle should break sometime this session with a target of around 20-30 pips on either side.

ClearEdgeFX

We're waiting for price action to return to the trendline. We'll either see a bounce and a retest of the 1.4700 level or a break just below 1.45 with a 300 pip target.

ClearEdgeFX

AUDUSD appears to be approaching the zone of previous support around the 0.7530 level and we'll likely see a test of the psychologically important 0.7500 level at some point. We're not planning on taking any trades until the picture becomes clearer, but, admittedly that may take a while to sort out. We're keeping a close eye on this pair.

ClearEdgeFX

Another great triangle opportunity courtesy of USDCAD on the 4H timeframe. This one could go either way, although price action suggests that it'll pierce through the upper side of the triangle that's in play due to the rising pressure coming from below. Either way we're looking at around 200 pips on each side once it happens.

ClearEdgeFX

In our view triangles often produce some of the best opportunities. This particular AUDJPY set up should play out in the next few hours. The safest way to trade it is to go long above 96.34 and short below 95.41. Our target would be around 40 pips on each side.

ClearEdgeFX

As we can see this one has been in a relatively tight box for the past week. As we can see price is approaching the trendline but we wouldn't take any trades until we see a clear break of the box in either direction. Our view is that a break to the downside could give us 200-250 pips.