We take a look at the AUDUSD, EURUSD, GBPUSD and USDJPY for trading opportunities after the USD comes under pressure from weaker than expected manufacturing data
FX:USDCHF OANDA:USDCHF FOREXCOM:USDCHF SAXO:USDCHF USDCHF - Intraday - We look to Sell at 0.9965 (stop at 1.0000) A 5 wave bearish count has been completed at 0.9694. Intraday, and we are between bespoke support and resistance 0.9882-0.9965. The rally has posted an exhaustion count on the daily chart. We have a 50% Fibonacci pullback level of 0.9965 from...
This week could be very intresting and volatile week for #GOLD hope you all enjoy the video and great week for everyone.
FX:EURGBP OANDA:EURGBP FOREXCOM:EURGBP SAXO:EURGBP Monthly – Triangle formation. Trend of lower highs at 0.9022 Daily - 261.8% and a DeMark 13 Intraday (four-hour) – Expanding Wedge has a bias to break lower Trade Idea We look to sell EURGBP at 0.9000 Stop 0.9025 Target 0.8830 Euro-zone retail sales declined 0.3% for May compared with consensus...
FX:AUDUSD OANDA:AUDUSD FOREXCOM:AUDUSD SAXO:AUDUSD AUDUSD - Stalls close to the previous high. Look for a correction. Weekly – Completes a bearish 5-wave count (Elliott Wave). Expanding wedge offers a long to medium term bullish bias. Intraday – The three-hour chart looks to have completed a 5-wave count to the upside. Bespoke resistance is seen at...
FX:USDCAD FOREXCOM:USDCAD SAXO:USDCAD Although USDCAD has posted two ‘Inside Days’ (which highlights indecision) there is no clear indication that the selloff is coming to an end. Bearish expanding wedge on the weekly chart with a DeMark 13 Broken the wedge formation on the daily chart Intraday chart is holding inside a corrective channel
FX:GBPUSD FOREXCOM:GBPUSD SAXO:GBPUSD Trade idea – GBPUSD – Close to resistance. Scope for a correction lower to buy into Monthy – Bullish wedge formation Weekly – Possible ‘Outside Week’ Daily – Bullish Morning Star 4H – Close to resistance and DeMark 13. Scope for a correction lower We look to buy at 1.2580 target 1.2745 stop 1.2580 Caution - UK...
FX:USDCAD OANDA:USDCAD FOREXCOM:USDCAD SAXO:USDCAD Weekly – Bearish Outside Candle with bearish expanding wedge pattern Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday We look to sell at 1.3400 Stop 1.3440 Target 1.3115 Economic figures could adversely affect the short term technical picture. Good luck!
In this video I discuss a potential buying opportunity from key support.
There is a nicely shaped bearish pin bar on the daily candlestick chart for the USDJPY pair. While it is a nice candle I do not think it is tradeable given the overall price action picture. A few problems I have with this pattern is that in some of the trend lines interpretations, the pin bar is actually sitting on top of the trend. This pinbar is also forming...