My bias for AUDJPY has changed after a evening start pattern on the Daily was formed yesterday at resistance. Could see the pair move down from now to past support.
Nice and simple looking chart here on AUDJPY. Price has reached a level of resistance so if it breaks we should see it continue on to the next level.
Trade i am currently in from last week. Short on EURNZD due to a break of long term uptrend and area of support. TP at next level of support.
Potential EURJPY trade i will be watching for this week. Started to move to the upside after a long few weeks of consolidation.
Bought USDCAD after a break and retest of resistance. TP at the next resistance area.
Shorting EURJPY here. Price has rejected resistance and therefore could continue to meet the previous lows. The Euro is weak at the moment and has lots of factors affecting it such as brexit, Covid-19 and many countries going back into lockdown.
Long taken on EUSTX50. Broke past high after the vaccine news yesterday and have held so far. Price can hopefully continue up to the next level of past resistance.
Taking a short position on EURNZD here mostly from a technical angle. We broke out the bottom of the descending channel and are now testing a long term strong supply/demand level. If we break this we should see price continue down to the next long term support at TP.
Taken a long here on GBPJPY. Yesterday news of a vaccine caused people to dump save havens such as Gold and JPY, potentially weighing towards more risk-on currencies such as GBP. This being the case GBPJPY could continue up further. Technically price does seem to want to continue up to previous highs.
UPDATE: Another great trade for the week. Narrowly missed TP so far so dependant on price action i may close for nice friday profits 👍
Bought around this area for a continuation of the descending channel. Made profits from shorting during the week and now turning short term bullish as buy order should get filled around here. Smaller risk used on this as i have ‘bought aggressively’ at the bottom of the channel rather than after confirmation.
Trade already entered and in great profit. I believe gold can go much higher as we have broken out of a long term descending triangle to the upside and also with the dollars current weakness and uncertainty this should be a driving force.
EURNZD providing some textbook results. One of the outcomes forecasted by myself at the start of the week.
EURNZD in a nice 4hr uptrend. Price action and rejection of the bottom and tops of the channel will help tell use if the trend will continue or create a break out.
A couple of ideas for EURJPY. I personally believe price will continue on a long bearish run however first we could see a head and shoulders pattern form.
GBPUSD: Price broke resistance at the end of the week and could now keep bullish power up to the next resistance level.
Gbpjpy: Price has broken out of the ascending channel on the 1hr. This is also a bounce off the bottom of a longer term bullish trendline.