theforexportal

theforexportal

The significant WS1 support pivot is under pressure on USDJPY and if this fails then the BEARS could push through and break the supporting trend line shown on the chart. This opens the way for a significant move south as there is little support under here. I've entered this market already at 106.28 with a 25 pip risk. 13:15 GMT sees ADP NOn-Farm Employment Change...

theforexportal

USDCHF has pushed through WR1 RESISTANCE and is now headed towards strong resistance at .9792 area. I've placed a SELL LIMIT order at .9792 with a STOP just above at .9813. Looks a decent set-up for a 21 pip risk as USDCHF has failed to break this area since mid-March and even then the BULLS relented after failing to push higher. Average daily range on this pair...

theforexportal

Having lived in Thailand for 7 years I frequently watch the Thai Baht exchange rate. Since I left in 2010 and before the THB has strengthened against the GBP. At one time I was getting BAHT to the GBP now its exactly half that. My contacts in Thailand are telling me Thailand is suffering as a consequence of Covid-19 hitting the tourism sector hard and the economy...

theforexportal

EURCAD has pushed relentlessly north for the last 15 hours and we have overbought conditions on several time frames. WR1 is now in striking distance. This will be an irresistible target for EUR BULLS and its likely the BEARS will stand aside ready to pounce when the price hits WR1. This is a nice setup as SELLERS will avoid the market until this level is...

theforexportal

With the USA gradually lifting restrictions on Covid-19, the wheels of industry will soon be turning again. And what greases those wheels? Yes - OIL . A glance at the Monthly chart on BCOUSD shows a very pleasing end of month long-legged doji - a sure sign of indecision. Add to this the bounce off the WPP mid-pivot and everything says BUY!!!!!. I'm in at 23.82...

theforexportal

I've just gone LONG GBP/NZD. Price has returned to WS1 and found support and looks primed for a move north. I'm in at 2.0418 with a STOP under the swing low at 2.0354 which is under WS1. Looks a good thing this with my Disciplindicator confirming with 2 stars.

theforexportal

AUDCAD is caught in a flag formation and will probably zig-zag sideways for a while before it breaks free. There's considerable resistance above so I'm only looking for a SHORT trade where a move down to .890 200 sma on D1 and WS1 support looks likely. One to watch.

theforexportal

My in-house indicator (Disciplindicator) is flagging this as a 3 star SELL trade. Price is at WR1 pivot which sits at a band of resistance. The last 2 candles have been a shooting star and a spinning top doji so all the signs are we could go lower from here. Nice 16 pip STOP above the recent high. Target is provisionally .6000 but this will be re-assessed should...

theforexportal Updated 

USDCHF has made steady progress north for the last 24 hours but has now hit the top of the existing channel. With RSI readings becoming stretched, the signs are that this channel may hold the price and we'll see a move south. USD/JPY has sold off steadily for the last 2 hours and possibly USD/CHF will try and catch up. I'm in at .9759 with a STOP above the...

theforexportal

Hard to even imagine that Brent Crude hit $149 back in 2008. Now standing at 22.32 surely this looks a good place to buy. At these low levels there's no historical support buy with RSI on the Monthly time frame at 26 and signs of a move north on mid time frames I'm in on this trade at 22.39 with a STOP under the low at 16.95 and a provisional target at WR1 Pivot...

theforexportal

Yesterday I shorted this pair at the * sign where WR1 resistance and historical resistance was reached. I can see no good reason why SELLERS wouldn't enter the market at this level again so I'm in SHORT at .9725 with a STOP at .9735 for a 10 pip risk and a TARGET at .9670 which would be a 55 pip trade. If the trade gets + 25 I'll move the STOP to B/E.

theforexportal Updated 

I've been watching EURJPY as its approached a significant trend line and this line has now broken and with the aid of several 200 sma on maller time frames supporting - this looks a reasonable BUY trade. My in-house indicator is also flagging this as a moderate BUY. I have a STOP at 166.66 and a TAKE PROFIT at 118.26. EUR is mildly BULLISH across the board so...

theforexportal

On the 3rd of August 1998 USDJPY hit 147.53. In February 2012,14 years later the price hit 76. I remember trading back in January 2010 when the price hit 90 and I was piling on USD LONG trades in the absolute belief that the price had bottomed and SURELY we can't go any lower. I had the same belief when the price hit 80. I remember back in Jan 2012 reading an...

theforexportal

Price on GBPUSD has hit WS1 pivot and historical support and we've seen a bounce as expected. The question is can the BULLS resume control of this market and drive the price higher? There's quite a lot of resistance above the first area being the 1.2400 big number and the 200 sma on the 5m chart. If price breaks through 1.2400 and then returns and tests this area...

theforexportal Updated 

I've taken quite a few pips out of this pair over the last 2 months and another SELLING opportunity is being flagged by my Disciplindicator Indicator. The strong support indicated has been tested many times over the last week or so and this is weakening the line. With the incentive of WS1 pivot as a target I believe the BEARS will break through and break this...

theforexportal Updated 

On the H1 chart we can see a really nice trend line that dates back from the 1st of April. This line has been significant for the last 17 days so the question is - will this line hold and repulse the BEARS. My guess is no. Not with WR1 so close. WR1 will be targeted by the BEARS and my guess is that they will wait there to lay their ambush. Its only 30 pips from...

theforexportal

USDCAD has hit the brick wall that is WR1 resistance at 1.4164. With USD weakening in the late afternoon US session this SHORT trade could play out. On the higher time frames the price is what I call "hanging" D1 being a good example of this. Price has bounced at 1.3848 but the downward pattern looks incomplete and the BEARS could possibly drive the price lower...

theforexportal Updated 

I have a SELL STOP placed at 1.1000 on EURUSD with a STOP above at 1.1040 (40 pips) and a TAKE PROFIT at 1.0800 (200 pips) though will be adjusted if the trade fires depending on momentum. There's a nice trend line just where we are now at market ( 1.0969) so price may not get to the SELL STOP so I'll be looking to SHORT if the BEARS enter the market early. I'm...