spesfinancial

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With today's weak candle, it is very likely that price will go down and break the horizontal support zone. Wait for a reasonable breakout of today's low on lower time frame, price may go down to 7090 and 6970 supports.

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This plan only works if a strong candle complete above the horizontal resistance.

spesfinancial Updated 

trading plan on GBPCAD

spesfinancial Updated 

trading plan

spesfinancial Updated 

USDJPY is testing the key resistance zone, and it is highly likely that price will continue dropping to complete the fifth wave. However, it is quite risky to enter short right now as some fake upwards breakouts may come before price truly going down. Patience is needed to wait for a weak candle to give clear confirmation.

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EURCHF had a fake upwards breakout and completed a reverse pattern at such a significant level. The possibility of price dropping is high, but it may not be that easy as last few candles are quite strong. Keep watching this pair for short opportunities in the coming week.

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EURCAD tested resistance above twice and finally came down with a weak candle. Look for downside breakout around yesterday's low, the target is around 1.4520. Be careful about the 100% fib extension at 1.4580.

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GBPCAD wait for a consolidation on lower time frame and look for downwards breakout. First target is around 1.6975.

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Look for long entries on XAUUSD based on the horizontal support.

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In the boring late August and early September, USD was struggling inside the triangle pattern without a clear trend, but it has had an upside breakout today. In next week following FOMC statement and in the near future, USD is highly possible to keep going up and bring more good trading opportunities.

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GBPUSD is in a short trend, and we should look for intraday short opportunities as long as the price is below the red resistance zone. However, the support of the day trendline after breakout may exist, and if the price keeps dropping tomorrow, we have to be cautious with taking short.

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British pound was going quite weak following US dollar's retracement, but GBPUSD does not have a clear trend today as the trend on higher time frame is up. GBPAUD, however, has downwards broken key support on 4 hour chart and retested it as a resistance zone. With two weak candle in the yellow box, we may able to find short opportunities with small stop loss after...

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Canada dollar was the strongest currency on last Friday while euro was very weak, which gives us potential short opportunity in the coming week. Let's see if we could have short entries soon. It is highly likely that price will drop and test the trend line support below.

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The neckline of EURGBP has been broken today with GBP going strong. If price could stay below the neckline, it is reasonable to look for short entries based on the red trendline and horizontal resistance.

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GBPNZD has broken the key resistance zone on 4 hour chart. More long opportunities may come after a tracement and test the support.

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USD was quite weak in last week. EURUSD is now testing the significant resistance zone, and it is highly likely to break upwards. Personally I would like to wait for a confirmation candle on 1 hour or 4 hour chart to confirm the breakout, and then look for long entry after a consolidation on lower time frame. My first target will be around the downwards...

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Gold is going to a very significant zone in the following week. We can see there are horizontal support, upwards trendline support, 38.2% fib retracement (from low at 1200) and 50% fib retracement (from low at 1250) just below current price. It is highly likely that a price action signal may appear in next week to indicate trading directions. In my personal...

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EURUSD seems to be hard to go above resistance zone around 1.1180. As can be seen from the chart, we can find a 50% fib resistance from previous high on 24 June, a 38% fib resistance from previous high on 03 May, and a horizontal resistance from lows on 14-16 June. Also, from the whole picture, this pair is in a retracement procedure of the breakout of the green...