EvanJones

EvanJones

So as most are aware the FED raised interest rates over a week ago and given this was mostly priced into the US Dollar, I believe now that we may get a correction and it looks like we have a typicaly Head & Shoulders Pattern in formation. If the neckline breaks I would envisage a break towards the key pivot area of 96 - 96.5 for price to retrace. Stops could be...

EvanJones Updated 

I've been jumping into shorts on this pair on the basis that an ABCD pattern has been forming. I rarely trade these patterns as I don't spot them as often on higher timeframes and yet this one grabbed me a couple of weeks ago and figured an update was worth while. Here I believe that overall the pound is weak, the kiwi dollar is gaining some ground in the basket...

EvanJones Updated 

The USDCAD has been on a super rally recently helped by a weak CAD due to the Oil drop recently, however the stochastic + divergence show us that a slight pull pack should be on thecards this week prior to Wednesdays night Fed decision. A good trade idea is to place a short trade with stops above the recent highs and aim to take a few pips, however make sure you...

EvanJones Updated 

We have an over-brought pair here, based on the following: Over-brought stochastic on the daily timeframe, indicates a slight pull-back could be expected Divergence printed indicating that RSI and Momentum are ready to see a reversal Price to retrace ahead of Wednesday's FED decision (which may or may not boost the Dollar) Oil price is heading further south...

EvanJones Updated 

Looking at a higher timeframe can often paint a picture regarding what the big money movesare in the FX market. USDJPY is in a correction, all be it aslight one on the daily/weekly timeframes. With the FED decision next week, are corporate funds/banks positioning themselves for a bigger move upwards or couldthe FED dissapoint and a drop down to 110.0 or 100.0 be...

EvanJones

Last week the ECB drove the Euro into a Buyers frenzy, however the overall trend is down and these trendlines have a number of touch points giving me confidence that this downtrend shall resume. I'm short with stops above the recent lower highs made on Thursday of the past week with a target somewhere mid-channel. Alternatively, if the upper trendline is broken...

EvanJones

I think after last week the GBP pairs got hammered and consequently they are now due a correction. I'm looking for a long in GBPJPY with stops below the lows below the trendline with a target of mid way between the channel.

EvanJones

A nice channel has formed with a few touch points giving me confidence that this channel will act as S/R. The daily and weekly pivot has not yet been hit and I suspect that price will retrace slightly on the following conditions: 1.) End of month = profit taking and so price may decline 2.) The monthly pivot has not been hit nor has price retrace significantly...

EvanJones

Here the EUR news this morning is good, the US Dollar is taking a breather (most likely till the US Session Later today) and I envisage that the EUR which is heavily oversold to make way to the daily pivot before resuming the downtrend. Some pips could be made here!

EvanJones

The GBP is looking indecisive, my options are: 1.) Take a long with the Stochastic oversold and a bounce of the trendline and target the missed daily pivot from Friday 20/11/15 with a stoploss below the trendline and possibly under the support line 2.) Place a pending sell order below horizontal support for a big move south with a stop placed above the horizontal line

EvanJones

GBPJPY took a bit of a hammering towards the end of last week due to some disapointing econmic data and I feel that this will weight on other GBP pairs. However the Yen (JPY) is weak and this instrument is oversold shown by the Stochastic indicator. A nice chanel has formed on the top and I feel a bounce aroud the lower trendline for a mid way retracement is due....

EvanJones

With recent strength and the weakness in both CAD and Oil the triangle breakout is working nicely. I have waited for the minor retracement before entering long targeting the 1.34 area and then re-assess.

EvanJones

A down trend wedge has been formed and if obeyed may break to the upside if we see some strength in the Euro. The CAD is certainly stronger at the moment compared to the Euro. Pending orders could be placed above the lower low to ride the bounce in between trendlines and stops placed below the lower trendline. Alternatively, pending orders could be placed above...

EvanJones Updated 

The Kiwi has been on a surge recently and the Swiss Franc has weakened, however a potential H&S (my favorite low risk trading pattern) has been spotted. A small trade could be placed below the neckline for an initial target of the missed/current weekly pivot with a potential for price to extend further to the previous weekly pivot which would not breech the...

EvanJones

The price recently extended to break the lower lows and this indicated a reversal may be on the cards. Since then price has consolidated but a clear line of resistance has been made. If this structure is maintained this week then I suspect price may resume the continued down trend. However if this line is broken I anticipate a trend reversal. Winter is coming!...

EvanJones

This looks like a head & shoulders pattern has formed and the neckline looks pretty flat meaning a break of this neckline could envisage a target 1.285 as an initial target and potentially 1.2832 as the second target. Keep an eye on the break of the neckline resistance as I feel this might be some mover.

EvanJones

With some strength in the NZD Dollar a potential Head & Shoulders Pattern has formed on the 1HR timeframe. On the 4HR timeframe a retracement is in place however this may fall further if the neckline breaks. A potential long term target would be the missed monthly pivot

EvanJones

Recently I posted about a double top forming on the NIKKEI 225 Index, which failed to materialize. Now a triple top has formed and I'm expecting this pair to reach the 2nd trend line for a bounce or potentially a move towards the red monthly pivot. As we are nearing the end of the month, the monthly pivot serves us well for an area in which price may wish to...