EUR/NZD bounced off an important weekly support. It seems that we have great opportunity on our hands to buy that pair and hold it for a couple of months. I will be looking for 1.78 region to take profit (unless something else forms along the way). Also stops should be placed below the support level (don´t forget to leave enough space for price to breathe)
Price of Crude Oil has been constantly rising for past 3 and half months. Therefore, probability for a short opportunity is constantly rising. And I believe that we finally came to the point, where shorting may be the way to go...
We see a potential double top on OIL chart. If we get a break AND CLOSE below marked region, then there is a lot of space for a pullback.
Company with strong fundamentals has been consolidating for almost 3 years. If we get strong weekly close then I believe that a substantial increase in value of the company is just around the corner
USD/CAD has been on the rise for most part of 2018. Now I believe that this trend came to an end, and therefore I set my orders on support level of 1.307. My target is much lower!
Price reached resistance on the weekly and daily timeframe + overbought + fundamental conditions are in favour of downside (US 10y yields, geopolitics, etc). These are all the reasons why I am short on this one
Price made a lower high on a daily timeframe, which means that there is high chance for a move lower.
Also, price hit resistance level (and also round number) at 1.60 level (check weekly timeframe.
FX:EURAUD
Price found resistance at 1.67-ish level. Since then we saw a reversal and crossovers with many moving averages. I will short this position if price falls below 1.649 level. Stop will be at 1.6550 and profit target at 1.620. This gives me sufficient P:R ratio of 4.75.
From fundamental perspective one can favor the downside since China beated almost every analyst...
We are looking at USD/CAD (4h timeframe). What we are waiting for is break to the upside and then trend continiuation. We will entry around 1.3160 area. Profit will be taken at 1.340 and stop loss is placed at 1.3050!
We wish everyone a great weekend!
USD/JPY is trading in a range. What we want to see is breakout to either direction, but since MACD is making lower highs we favor break to the downside also 110 is a round number and therefore huge resistance level for us.
1. If we get a break to the downside our profit taking area will be between 106.50 and 106.00 area and stop loss above the range area.
2. If...
