Midterm forecast:
While the price is above the support 0.7080, beginning of uptrend is expected.
We make sure when the resistance at 0.7380 breaks.
If the support at 0.7080 is broken, the short-term forecast -beginning of uptrend- will be invalid.
We will close our open trades, if the Midterm level 0.7080 is broken.
Technical analysis:
The RSI bounced from the...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.721.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.7265.
TP4: R2=0.7295.
Set the stoploss of these orders at breakout of S2=0.719.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
1.14106 area has been used as resistance ( purple arrows ) and more recently as support ( blue arrows ) which price is currently at, mix this with the trendline ( blue line ) that price has been respecting, we can see a descending triangle forming, This is price been squeezed and when this happens we normally see an explosive move to the upside.
So either today...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.7205.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.7265.
TP4: R2=0.7295.
Set the stoploss of these orders at breakout of S2=0.7185.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
13.46895 is a key resistance level that will be respected, and with the 2 added trendlines ( purple arrows are where price has previously touched and respected these lines ) we can see no other direction other than down with this pairing, so we are in a sell position at the moment but we have a tight SL just above our resistance level just incase resistance is...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.145.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.15.
TP4: R2=1.1535.
Set the stoploss of these orders at breakout of S2=1.144.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
1, The Gartley
2, Rising Wedge
3, Bearish RSI Divergence
Target is based on the bottom bound of the Ascending Channel
On the flip side, price can continue to the top bound of the Ascending Channel and then drop
I've been long on this pair since last Tuesday (check my previous post on Feb 6) and have been adding long positions since. I've taken profit on half
these positions but have now added another long position as I believe this is a perfect pullback. As you can see it is near a demand zone and also sitting on top of the 4 hour trend line.
Trade safe and good luck!
The greenback had a fruitful week, with the US currency has decently appreciated against most rivals. Safe haven demand was the key driver as investors continue to assess global growth prospects and further price in lower activity in major countries. The trade-related fears reemerged as well, which gave the additional lift to the dollar.
Despite the recent...
If you have followed my previous post on this pair, you will see my group profited from a sell setup on this pair. I have now gone long on USD/JPY as the previous SELL ZONE has now been broken. I have marked in blue where I feel this pair will be heading next.
Trade safe and good luck!
USDJPY - fairly bullish, waiting for a reversal candlestick around the 23.6/38.2 retracement region to take a long position with targets set at fib extension
- lots of buy pressure in the market
- price made a push through zone
- expecting an exhaustion - possibly at trendline
- looking for price action confirmation before entering long again
After predicting successful long (100 pip profit), here's what I believe is next for this pair.
- expecting a minor exhaustion at hourly zone
- then looking for price action confirmation e.g. a bullish engulfing candle close (on 4HR TF)
- then entering long until monthly yellow zone
After breaking the bullish trend, I called a short on this pair, however, the currency pair shot up stopping me out. Currently, the pair has formed a double top and it looks like a bearish trend is being made due the formation of the most recent trendline. If the currency pair moves down, I will target 150 pips where we have our 61.8 fib level,. Will be risking 50 pips.
USDCAD just hit the lower trend line. In this area we also have a major support and our 61.8 Fibonacci level. If the currency pair keeps respecting this area, bounces and breaks the trendline that it has created on the retracement, we will probably see a +600 pips bullish move for a long-term run.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1405.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.1455.
TP4: R2=1.1485.
Set the stoploss of these orders at breakout of S2=1.139.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
