A decent opportunity for USDCAD has opened up on the 1hr . I will be looking for price to retrace 50% of that Bullish impulse. Should price move to that zone, i will be entering with 1% capital risked.
Both Stop loss and Take profit have been marked with a risk to reward ratio of 1:2.
Remember to always manage your risk on every trade because no trade is...
USDJPY is showing some great bullish potential and is currently consolidating ( trading sideways) and creating bullish divergence.
I will be looking for a bearish retracement of 50% of the bullish impulse move ( point 1 to point 2). Should price moved towards this zone, I will be going long with 1% capital risked.
Considering price is consolidating as such,...
Simple as you like really, price is currently at a strong support zone and had a really bearish day on Friday so we are expecting bulls to take over and push price higher and possibly to our resistance zone ( green box ) this is where we will be placing our TP.
Again see how simple and clean our charts are? why would you stress yourself out with 100s of...
It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical...
This week I believe that the US Dollar will go up to seek liquidity before coming down.
This will put pressure on other currencies. GBPUSD and EURUSD will go down beginning of this week and will end the week on the upside.
Here the Dollar index has hit a long term support level around 91 to 93 and recovered from these levels twice. Both times at RSI major oversold levels. Technically this enhances support for the Dollar. Looking fundamentally, the new US tax law changes and good economic data out from the US points to support of the USD. The theme for the DXY may be either a new...
Downtrend last swing high broken by 5 wave impulse upswing. Possible corrective abc has ended around the 78.6% retrace. Blue upfork yet to be confirmed; if it holds, will target blue median as objective.
I believe price will be heading to test the 6M open,
Break of trendline structure and rejected a 15m OB 0.11% within a 4H OB 0.11%
Will want to take out all those who have held their dollar shorts
Waiting for confirmation; if price rejects 92.90 or 93.05 on a retest and bullish pa is seen
93.15 is the main level I am watching
On a weekly time frame, the last candle formed a bullish engulfing pattern and right at the H&S's neckline. It is premature to say that the H&S formed is already busted but the 200 SMA and trendline are still intact which suggests that we are still in uptrend. In addition, it has also pierced above 100.20 where it acts as a strong resistance level in several...