We could have a potential head and shoulders being formed, it would give us a short opportunity.
We look forward to our first target, at which you would take some profits, and see if you can let it run to our second target.
What I see here is a long opportunity in USDCAD. We have had higher highs and lower lows and right now we are in the low leg meaning we can make a higher high than the previous at 1.4265. Looking to reach 1.435 from here.
Looking at a short at market price towards 1.8410
Analysis:
1) A good spike in price on the hourly chart lead to a great buying opportunity
2) can now short in the 1.857 region instead of the 1.855, when a price is discounted by 20 pips take advantage of it
3) strong resistance at 1.87
Trade Targets:
T/P : 1.8410
S/L : 1.872
GBP/JPY looking to short for close to 300 pips
Analysis:
1) Uptrend got rejected at a strong resistance of 148.00
2)Heikin Ashi candlestick proving uptrend is fading and could be a start of a downtrend
Targets:
Take short trade at market value
T/P: 144.30
S/L: 148.60
Analysis:
1) On the 8Hr time frame a very reliable one, it is greatly oversold
2) Bullish Candlestick formed
3) Rejection at 1281
Targets:
T/P: $1300.00
S/L: $1281.00
Looking to Short the EUR/USD
Factors
1) higher high lower lows forming
2) Last candlestick for March 1st showing a bearish trend, or end of a bullish trend
3) DXY is looking to go higher this weak meaning a stronger dollar
Trade
Currently trading at 1.13628
T/P 1.1240
S/L 1.4250
Fibonacci Retracement to the 0.61 level 75.50, with a stop loss of 76.60. We had a rejection at 76.60 to confirm we are in a downtrend. Would have been better to enter this trade earlier however we can still make a fairly easy 50 pips.
Trade : SHORT to 75.50
T/P: 75.50
S/L: 76.60
This could be a setup to go LONG on the EURNZD. The 0.236 fibonacci has been acting as great support. With New Zealand unemployment going up and the RBNZ meeting on Tuesday. more dovish tone could help boost this trade.
M.Y
