Partials have been taken at each of our target levels. We can see nicely how price is drawn to areas of inefficiency and liquidity, filling the areas in before moving on. Price could reverse at this point after we have seen some mitigation to fill in new areas of imbalance found above price. As such, we are trailing our stop loss tightly.
Short term long on EURUSD from supply level. Aiming for price to retrace to 200EMA and 78.6% Fib retracement.
Long swing trade on 4H BOS and retest of previous order block.
Going short on retest of supply level and retest of peak high formation after break of the 4HR bullish TL.
This is our outlook for the beginning of this week for USDCAD. Were trading underneath a higher TF mitigation block and have seen a break of structure on the 4HR charts. We could be entering a buy cycle once liquidity has been collected. If oil remains weak and US10Y remains strong, we could see the Dollar gain on the CAD - lining up with our technical bias.
Head and shoulders formation coinciding with a false break of structure / mitigation block. If we close nicely above the 200EMA, we could see continuation to previous highs and 1.618 Fib extension. This would coincide with risk on sentiment returning to the markets and a weaker Dollar should Biden's stimulus package outweigh the rise of treasury bond yields.
After a break of market structure, further downside price action could indicate the beginning of a sell cycle.
Our long outlook if we get a break or market structure and order block level.
Our GBPJPY short sent to members this morning. Sterling rallied pre London open on the back of Bailey's speech. Were looking to catch the corrective move after the false move.
Our long position sent to our Member's this morning. Anticipating initial strength in the DXY after FOMC meeting this afternoon.
This analysis is made purely on a technical level. With large moves like this, fundamentals could play a large role. The Yen's prospects look bleak with low interest rates, poor yield control and increasing outwards money flows. Equally, how will Sterling react when we see an end to furlough and the effects of limited trade with Europe? We are still neutral on...
Our current key zones for Bitcoin. We will be looking to load up more longs at our buy zone.