Declining below 1.1000. • EUR/USD has broken hourly support at 1.1070 (04/02/2016 low) and is now holding below it. The short-term technical structure still suggests a further bearish move. Hourly resistance lies at 1.1139 (19/02/2016 high). Expected to decline. • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key...
Not only did it head towards the downside 5 times but now it has higher low. Don't wait till the 8$ to get in it will spike big time.
Look for a short trade setup in EURCAD over the next two days, preferably on Feb 22nd around 13:00 GMT or Feb 23rd around 17:00 GMT. Price should stall out around the 50% Fibonacci retracement which coincides with the 3rd square root from the most recent low of 1.51402 set on Feb 18th. Should EURCAD run up to these levels it could stall out presenting a nice...
Monitoring support at 1.1070. • EUR/USD keeps on pushing lower. The short-term technical structure suggests a further bearish move. Hourly support at 1.1070 (04/02/2016 low) has been monitored. Hourly resistance lies at 1.1260 (10/02/2016 high). • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key resistance is...
Strong volatility. • USD/CAD has been very volatile over the past few days. A bearish bias is still favored. Current price action is following old downtrend. Hourly support is located at 1.36392 (04/02/2016 low) and hourly resistance can be found at 1.3911 (16/02/2016 high). Expected to see further rebound. • In the longer term, the break of the key resistance...
We have entered a correlation trade between AUDUSD and NZDUSD this evening. The weaker than expected inflation numbers in New Zealand is causing the Kiwi to selloff while the Aussie hangs strong against the US Dollar. This news has given us an opportunity to go Long NZDUSD while Shorting AUDUSD. The current spread is approximately 120 Pips on the hourly chart. ...
Watch for a BoJ intervention: EURJPY is setting up very interesting. Although the overall trend is to the downside & we prefer to trade with that trend, considering the news flow from Japan we need to be open to a different view. On Jan 29th Japanese 10 yr bonds went negative, ever since the Yen has been on a tear higher. There has been a lot of chatter the BoJ...
Ready to monitor resistance at 1.1387. • EUR/USD keeps on pushing higher. Hourly resistance lies at 1.1387 (20/11/2015 high). Hourly support may be found at 1.0711 (05/01/2016 low). Yet, expected to show further increase. • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key resistance is located region at...
Good bat pattern on the daily USDEUR chart to trade over the next several weeks. My fundamentals are pretty neutral on this pair so will be nice just to see how the pattern plays out. Buy at 0.8790. Stop loss based on a very solid piece of previous structure support. Profit target based on Fibonacci levels.
Pushing higher. • EUR/USD keeps on pushing higher. Daily resistance lies at 1.1387 (20/11/2015 high). Hourly support may be found at 1.0711 (05/01/2016 low). Yet, expected to show further increase. • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range high) and 1.1640...
Technicals We have a Gartely pattern set up here. I am looking to go long at 0.03697, which falls between the 0.786 retracement and 1.272 extension along with 1:1 ratio between the AB and CD legs. There is also a divergence on the Relative Strength Index from a heavily oversold condition, supporting a spike from around the current price. Fundamentals...
Targeting resistance at 1.1387. • EUR/USD keeps on pushing higher. Daily resistance lies at 1.1387 (20/11/2015 high). Hourly support may be found at 1.0711 (05/01/2016 low). Yet, expected to show further increase. • In the longer term, the technical structure favors a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range...
Reasons for -As you can see we have Lower highs and lower lows -This shows us a clear down trend on the daily Timeframe -We have bounced from our key level at 2.00000 and have found some bullish momentum -As you can see we also have our trend line underneath Price -So essentially we are still up trending on the higher timeframes -The past day put in a long...
Reasons for -Firstly we are up trending on the 4 hour -We are making higher highs so to signify uptrend -We cleared key level of 0.7000 -We are trading above the Key Level -We are due for a new higher high and a impulse move to the upside -We also have come to the trend line and has show Strong level of support -Also on the trend line we have reacted and...
Reasons for -Firstly on the 4 Hour time frame we are up trending -There is a major trend line above us so therefore i believe that is prices next level before any bearish movement -We are making higher swings after coming down to our Trendline below price which is acting as support -We have clearly seen a reaction from this trend line acting as support as you...
Reasons for -Firstly as we can clearly see we are in a Triangle formation -We have had multiple bounces from the Bottom trend line which is now acting as Support -The previous Four hour candle was a doji on the trend line -Now this 4 hour candle stick is forming a nice big bullish candle which signifies Bullish momentum from Trend line acting as Support -We...
Reasons For -We formed a triangle formation having multipale bounces on either side -We broke to the upside -We have got our retest which is key in my strategy and has put in bullish movement -Price has put in bullish hammer and then followed by two strong bullish candle clearly showing momentum to the upside Daily -We can see 3 bullish candles we are in...