FX_Rhapsody

FX_Rhapsody

Looking at GBPUSD I want to see price breaking the are of resistance before looking at any buy opportunities this week. Price might respect that area go down to retest the are of support. So lets keep an close eye on this pair and those key areas this week.

FX_Rhapsody

Looking at USDJPY we want price to break below the support or break above the descending trendline for any movement. so let keep an eye on this pair this week for either a buy or sell. COT shows no major movement in net positions against the Yen, but the Yen is sitting on a extreme low so a possible positive net increase could be on the cards this week, pushing...

FX_Rhapsody

Looking at EURUSD we see price tapping Liquidity below all the buy orders. price is still in a ranging faze so now we look at lower time frames to catch the possible upward movement of the EUR.COT also indicates a turn in net positions seeing the net positions growing slowly.

FX_Rhapsody

Looking at GBPJPY we see price almost retracing back to the 62% Fibonacci Retracement area. Not a lot of change against the Yen if we look at the COT reports, but the Yen is sitting on an extreme low and chances of positive movement against the Yen is very strong.

FX_Rhapsody

Looking at GBPUSD, price bounced off a area of support and we will be looking for signs of a bullish movement next week for price to retrace back to the zone between the 62% and 79% Fibonacci Retracement area. COT reports show increase growth on net positions against the Pound.

FX_Rhapsody

Looking at USDCAD for this week, price is sitting at a resistance area in the market. Price might respect this area and retrace down to the 62% Fibonacci retracement area or break this are for continuation to the up side. COT reports shows a positive growth on the net positions against the CAD confirming a possible sell for next week.

FX_Rhapsody

Looking at USDCAD, I'm waiting for price to break and close above the consolidation. pulling up the Fibonacci you can see price retraced to the 62% retracement area. there is the obvious possibility that price might sell off from here as the Bank of Canada commented for strength against the Loonie is coming, and looking at the COT reports more long positions were...

FX_Rhapsody

With USDJPY price is consolidating inside the block, we looking for either a break and close to the downside or upside. COT reports shows more longs being closed against the Yen so a move up looks like to be on the cards, but time will tell. Keep an eye on the lower time frames for confirmation.

FX_Rhapsody

Looking at EURUSD, price closed in between 2 key support & resistance zones on the daily. Next week we will keep an eye on those 2 zones, it being the beginning of the month price might consolidate a couple of day before making a move out of those zones. COT report shows both long and short positions being added against the EUR but more longs than short positions....

FX_Rhapsody

Price might go into consolidation this week, so we are waiting for any type of break and retest. on the lower time frames you can trade the consolidation and the begging of the week look for a nice buy opportunity as COT reports indicate a stronger Pound with shorts positions being closed against the pound and more longs being closed against the Yen.

FX_Rhapsody

Looking at GBPUSD we see price making retracement on the Fibonacci, but I would like to see price retracing back into the zone between 62% and 79% levels. Price might not reach those levels as looking at the COT reports we can see another big chunk of shorts being close indicating a push to the upside for the British Pound. Lets keep a close eye on this pair on...

FX_Rhapsody

Looking at USDCHF we price retracing nicely to the 62% Fibonacci retracement but lots of liquidity is lying on the 79% retracement level. I feel price action might go hunt that liquidity, so we will keep an close eye on lower timeframes for price is sitting on a small support area in the market. COT reports shows long positions being closed in the market and short...

FX_Rhapsody

Looking at USDCAD we see some signs of retracement on the daily timeframe. I want to see price retracing up at least another 50 to 80 pips before looking at sell opportunities on the daily. Will keep a close eye on lower timeframes incase price wants to sell from here. COT reports indicate 1k shorts being added to CAD but 17k long positions so selling off USDCAD...

FX_Rhapsody

To be honest, I'm not a 100% sure to what's going to happen with this pair this week. What I do see is that liquidity was tapped just above previous resistance, and price retracing down, how far? not sure. The first area lies just below where price finds itself now and the next key area will be the zone between the 62% - 79% Fibonacci area. I will definitely keep...

FX_Rhapsody

Price is currently sitting on a nice area of support. Price might just test that area again in the beginning of the week, of the week, retracing down to the zone between 62% - 79% Fibonacci and then it should be bullish from there. but the possibility of the bullish run up might already started on Friday. COT reports shows a positive increase in net positions...

FX_Rhapsody

Price broke through the Trend Line and is currently retesting it. Pulling up a Fibonacci we can see that price retraced to the zone between 62% and 79%. If the trend line hold we can look for buy opportunities this coming week, but just keep an eye on the lower timeframes as price might break back into the trend line and carry on to the downside.

FX_Rhapsody

There is no clear indication on GBPJPY to go down and retest the Fibonacci 62% retracement on the daily timeframe. Price first needs to break the support area before considering any big movement down. Lets keep any eye on the current position this week and look for signs of selling to the downside, otherwise its up all the way. COT reports shows massive amounts of...

FX_Rhapsody

Looking at the EUR/USD , I see the obvious two scenarios. First would be price respecting the small Fibonacci retracement and start selling next week, or the EUR might push higher up. if it goes and taps the Liquidity just above the 100% small Fibonacci level, price will hunt the Liquidity just above the 62% level on the Big Fibonacci.