Forexmentor

Forexmentor Updated 

This is the dilemma with technical analysis, here we have a situation where we have technicals supporting a move upward and downwards. This situation is very common with technical analysis, in most cases there are technicals supporting both the bulls and the bears and hence making decisions solely based on technicals is 50/50 in most cases. We have the 50 fib...

Forexmentor Updated 

Potential rally

Forexmentor

Market has entered the demand zone we can get buyers in this zone, we also have the ECB press conference tomorrow

Forexmentor Updated 

Head and shoulder patter on the EURNZD

Forexmentor

If prices close below 89.30 we expect lower prices, if prices close above 89.50 we expect prices to rise higher

Forexmentor

CADJPY potential buy trade, here we can see a potential 5 wave structure unfolding, expecting prices to fall into the demand zone before rising higher

Forexmentor

USDJPY potential bounce

Forexmentor

If we get a solid break lower out of the consolidation we should see lower prices, given we have what looks like a fake break to the upside, looking for buyers around the 0.882 level

Forexmentor

NZDUSD Potential short trade

Forexmentor

Usdjpy head and shoulder pattern however the potential passage of the US tax bill this week could provide support to the USD into Christmas and holiday

Forexmentor

GBPAUD wave structure, expecting prices to head towards 1.8040 as long as prices remain above the broken line

Forexmentor

Looking to play the EURGBP back up to resistance as we can see signs of demand entering the market at the support. However we have a key resistance zone right above prices and we can get some supply coming into the market at or near the resistance zone. Fundamentally we may see a weaker pound as recent brexit divorce negotiaions were unsuccessful.

Forexmentor

If you understood the fundamentals you would've bought the USDCHF after the fall on Friday, why? Because while we had beautiful technicals for the the sell going down we also had the passage of the US tax bill which if you understood the fundamentals you know would result in a rally in the USD. So many traders lost all their profit from the fall because they...

Forexmentor

Entries still based on signs of smartmoney entering the market, if we dont get a clear entry then no trade.

Forexmentor

Few possibilities for the NZDUSD, this week the market will be focused on the tax bill which is likely to be passed soon so we may get some dollar strength and hence a lower NZDUSD however our entry is still based on signs of supply and demand entering the market so no entry until a clear sign.

Forexmentor

GBPUSD at key resistance, we have sellers coming in at the resistance and if the wave structure holds we should get a swing lower completing the 5 wave cycle however if we get a break above the 1.35-13700 zone we can expect higher prices. Fundamentally the market has been getting positive news concerning brexit however there is still some uncertainty surrounding...

Forexmentor

Long USDJPY Signs of demand entering the market

Forexmentor Updated 

We are in what looks like the C wave of a 4th wave zigzag. Expecting prices to rally to around 1.354 where we have the a combination of Fibonacci expansion and retracement levels. 1.354 is also a strong resistance level and we can expect to see sellers re-entering the market at this level