MMQ_FX

MMQ_FX

EURGBP ranging in around a 100 pip range between 0.89 - 0.9. We can look to capitalise on this by longing to the high (I believe the break on 29th May was a fakeout) of the current range at the 0.9 psychological, with an excellent R:R of 1:5+ We have added confluence of price's rejection of the ascending trendline. 20 pip SL, potential 100+ pip reward!

MMQ_FX

USDJPY ranging between the 107.900- 107.400 levels for around a fortnight now & unable to sustain a break either side. A simple range short can be executed at the 107.900 level with great R:R, targeting the support of the range. Stops may be placed above the 108 psychological. Conversely if bullish momentum pushes price through the range we could look to long...

MMQ_FX

EURCAD moving within the descending triangle formation, however finding strong support at the highlighted demand region which it has not been able to break for some time now. Price again seems to be respecting this zone and I believe we may have further upside movement before a break/selloff occurs to the downside. Potential +160 pip movement to meet the...

MMQ_FX

EURJPY downtrending on higher TF with yesterday's daily candle (spinning top) indicating slowing momentum from last Thursday's bull run (up from a 3 year daily low) and a potential reversal. Further indication of this is the observed rejection of the D1/H4 downtrending TL. On H1 we observe price being supported at the 116 psychological level. I am anticipating a...

MMQ_FX

USDCHF ranging in the highlighted s/r zone since 16 April. This is a simple technical analysis on this pair as fundamentally it doesn't appear there is any clear strength/weakness of the US dollar following last night's FOMC. We have the 0.98000 psychological level highlighted as the month's resistance which it appears price could not break so far, forming a...

MMQ_FX

EURUSD downtrending on higher timeframes - last week we saw the creation of the April low at around 1.07260. From a technical perspective on H1 we are seeing confluence to indicate movement to the downside again. However, we must bear in mind the fundamentals this week with the Fed & ECB interest rate decisions, and the consequent strength/weakness to EUR & USD,...

MMQ_FX

Lots of confluence pointing towards shorts on this pair looking at the H1 TF. Technicals: - Rejection of s/r zone in line with rejection of 200 EMA - Price action - hanging man/shooting star followed by strong bearish engulfing - Potential rejection of 118 psychological level Fundamentally I'm assuming we will continue to see a pressured Euro considering the...

MMQ_FX

EURNZD is currently at strong supply zone with price action here indicating slowing bull momentum/incoming bearish reversal (dojis) The strong upward move followed a phase of consolidation/accumulation after NZD interest rate news/coronavirus fears. I am expecting price to drop to meet the descending trendline. We may see a break or bounce scenario here. Should...

MMQ_FX Updated 

1550 zone holding well as support. Refer to D1 chart to see how significant a level this is! Price action on H1 and H4 from today indicates price does not want to push down. Gold is still up trending and so I am expecting longs into S/R zone around 1572. Not interested in selling against this trend.

MMQ_FX

USDCHF nearing the sell zone of the current trading range. We can look to short/sell limit at the 0.9760 area. With stops placed above the range at around 0.97850 this will give us a lovely entry to target the 0.96300 with an excellent R:R of over 1:6!!

MMQ_FX

1.10 target reached on my previous short idea posted Monday. Now looking for long entries once we get a clear bounce from support. Let's assume there is a lot of liquidity at this 1.10 zone and possible stop hunts. NFP tomorrow also so may not get a clear direction until the data is released.

MMQ_FX

USDCAD has been up trending for a number of weeks, bullish momentum being boosted by a weak CAD on Januarys BOC interest rate data. The daily timeframe is still downtrending however, and we have several indications of a bearish reversal (see annotations) Long term target is the previous daily low at around 1.296.

MMQ_FX Updated 

Posted this late - was meant to publish last night before the move began. EURUSD still downtrending on higher timeframes. By condensing to 4hr we see a clear rejection of the 1.11000 psychological level in line with our trendline and resistance-turned-support zone. Next area of support is the 1.10000 psych level, I'll be monitoring this area for profit taking.

MMQ_FX

By observing the lower timeframe we can see EURJPY has been consolidating over the past week, ranging from around the 119.800 - 120.400 level, in line with the lower trendline of the ascending channel observed on D1. Today we see a breakout and retest from the upside of the range. Stability in the Euro following Brexit should hopefully give EJ the headway it...

MMQ_FX

GA forming a descending wedge pattern. Price now consolidating at the upper trendline in line with the 1.92 psychological level. I am hoping price will reject here to break through the current trading range, in which it may give way to a 300 pip drop to the lower ascending trendline. Amazing R:R on this trade!

MMQ_FX

As we can see from the daily chart the pair has risen to retest the previous broken support zone at around the 1.27 psych level - I believe this was due to GBP gaining strength on last weeks employment data. Bullish momentum appears to have slowed at this zone with price action showing a potential reversal (doji), whilst retesting the opposite side of the upward...

MMQ_FX

We are presented with what appears so far to be an ascending channel on this pair, with higher timeframes displaying price up trending since late December. By condensing to the hourly i have observed an area of consolidation around the lower trendline - with price unable to break below. With the trend bullish i am going to look to place buys if we are able to...

MMQ_FX

EURJPY currently uptrending. A weakness in JPY has been observed with XXXJPY pairs rising over recent days. However, this pair has came to a halt at the resistance zone forming a triple top. We look to sell to meet the upward trendline. Potential short for 150+ pips once price action confirms bearish reversal.