I predict that going short would be the best option for the next few days. Price has reached the resistance level at 1.1111 and the candlestick pattern at H4 suggests that the price will fall. Moreover, the ascending channel, which was tested multiple times since the end of July, might act as a pivot point for trend reversal if the price does reach 1.0888. The...
Hello Traders, After seeing FX:GBPUSD consolidate within a range for the past 30 days, we have gotten the emergence of 3 Simple Chart Patterns that could present us with good opportunities to LONG on this particular pair. I have color coded all 3 Chart Patterns in the chart above, just to make it visually easier for everyone. I will walk you guys through...
I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move. I’ll be looking for short opportunities on this pair in the Live Trading...
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
Bounce on Tanta Pivot Channel 2, Pattern Bullish engulfing and bullish harami and hammer with volume, Major trend uptrend Above MA 50 and 200, Entry on Retracement
Whenever the chart shows a confluence (i.e. 2 or more) of technical indicators at about the same price zones, it is more likely to see a higher probability of a successful trade. For AUDUSD, i see a confluence of 2 technical buys. First, AUDUSD is trading within this green rising channel. This rising channel is a classic textbook pattern. Notice that AUDUSD very...
Trade taken on historical day when SNB decided to remove the floor on EURCHF! Follow the link for trade history. fximperija.com
Nice rising channel. PA just beneath the 120 even handle.
The inv. Head and Shoulder pattern plays well along with the rising channel which is very well defined. Last week PA managed to reach 1.47 but couldn't hold the 1.46. Expect more pressure towards 1.46 as Aussi net shorts increased last week to 30271 CFDs compared to 26486 the previous week.
What a nice bullish setup. A Hammer was drawn at the intersection of the big down trend and the smaller up trend lines. This gives a better probability for the Euro to start a rally, targeting, 138.00 or even higher for 138.50. A break below the demand area would signal a fall back towards 136.50/136.00.
AUDNZD trading nicely within a very defined rising channel. This is a long time frame rising channel, which started its moves since Dec 2013. Will AUDNZD bounce up from point 3?? Enter long position around the 78.6% FIB retracement level. Long AUDNZD 1.0630-40 SL 1.0580 TP1 1.0800 TP 1.1000 ===== www.ForexPositive.com Twitter @ForexPositive =====
It seems that Draghi didn't do enough to get the Euro lower. Buyers pushed it back to 1.3700. Here we have a pretty good intermediate resistance area. A broke above the upper line of the channel could trigger another fast rally to 1.3750, while a false breakout or a rejection from here would signal a drop back to 1.3660 or lower.