Watch 1.1211 for a possible breakout or bounce. See Resistance and Support levels for T/Ps and S/Ls. I will wait to see if we get a breakout and see a confirmation candle above 1.12 and then set my T/P at 1.1552 area. A bounce would of course open up a possible good short sell as well so it is good to keep ones options open Happy trading
138 is now the area of interest. A break of that resistance level along with a confirmation candle (be aware of Fake-outs) will open of this pair to head for 140. On the other side a bounce at 138 opens up a short trade down to 135.35 - ish
The Pound is clearly trying to push higher and I have seen 60 min charts posted with an inverse H&S pattern if one like to trade those. I dont and I dont think there is that much fuel left in the tank right now for the Pound to be able to break 1.6150 and rally just yet. Going short here with a target of 1.60. Lets see how it goes Happy trading
I am expecting another push/spike to the upside, maybe it will happen this Wednesday but after that I am also open for a correction lower before possibly a bigger step upwards
Initial TP right now is the 0.77 area. Will then watch and see if that support level will break or bounce. If it breaks I will trade it down to 0.75 or possibly all the way down 0.7274 if it bounce I wait to re-enter the trade around 80.70 (RBNZ intervention area) but it may go higher as the box illustrates- just have to wait and see.
Watching the 137.01 level like a hawk. If the Euro manage to break and close over that level then it invalidates this trade and I will re-calibrate my entry. It is not a wonderful pair to trade with weak fundamentals on both sides but the daily PMR is as we all know awesome once it takes off.
Look at the Stochastic - what a range. The trading range is within a 100 pips this week and fairly easy to trade and I wouldnt mind having this pair to continue to range like this for a while. But the question is now..will it break to the upside or the downside.. I have no clue and can only watch and be ready for whatever. What are your 2 cents on this pair
Right now 1.4450 seems to holds as resistance but I keep 1.4550 as my SL for now and use a trailing stop as this pair moves south. TP 1 @ 1.4349 TP 2 @ 1.4234 TP 3 @ 1.4176
The Loonie has now made a full Fib 0.5 retracement and I think it is time for the down trend to resume. I am not too happy with the jumpy yen and we might still see a spike to the upside. The stochs has not changed direction just yet. But anyhow as the stochs will turn it is still worth a shot
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I wonder how long this range trade will last until it breaks out either way. But as long as it works then I am a happy trader ) Entry @ 1.6037 SL @ 1.6010 TP @ 1.6163
The Euro have been riding north based upon a class A divergence in early October but I think the rally is soon to be over. Entry @ 1.4494 SL @ 1.4516 TP @ 1.4250
NZDUSD now have a Bearish Divergence on the 60 min and 15 min chart. I do not under estimate the NZD Bulls out there so I have placed my stop at the RBNZ intervention threat area (0.8070) and TP at 0.7871 ( not showing on this chart)