USDCAD has fallen sharply today but we could see some support come in around this level at 1.133200. This level its self has provided some good support / resistance in the past. We also have the 61.8% Fibonacci retracement level of the rally from the 3rd of April low and the 78.6% Fibonacci retracement of the rally from the 19th to the 28th of March. The S2 daily...
Now EURAUD is a pair I have come to build some what of a love hate relationship with over the past 6 months. Previously taking shorts at a similar level in January before being annihilated by the flash crash. Luckily I did re enter and caught a lovely 500+ pips. Anyway that's besides the point, currently we are back at this huge resistance zone, where we saw daily...
Intraday long trade set up on CHFJPY.
I am long from the lows at 108.300 and I am looking to buy on the intraday higher lows. Price has reached some resistance at this current level and I am predicting a little pullback down to the 1hr bullish trendline.
A higher low, rejection of the previous resistance and fib 0.618 level would be ideal for a scale in position.
This is a pre-data trade for GBPAUD.
GBP is being bid up prior to the release of UK core CPI data today. It appears buyers are assuming good news which we all know, is highly unlikely considering the state of Brexit and the economy.
The classic "BUY the rumour, SELL the news"
Targeting new lower lows on the 1hr/4hr timeframe as the trend continues.
Having a look here into the AUD/NZD, technically I see a major key level @1.05454 where wave 5 will initiate its long as wave 4 comes to a close.
My key level here is located at the high of wave 1, which wave 4 cannot violate if this Elliot Wave analysis is to be validated. If the Key level is broken, I expect my 'Buy Zone' area to react as a strong support...
Simple trend reversal trade on NZDJPY. Bearish momentum seems to be gone and price has broken up and made new highs now with price breaking the bearish TL.
I am entering long on the 0.618 fib retracement with a target of a new higher high around 72.800 and maybe higher.
Simple trendline break and daily resistance bounce trade. The major 4hr/daily bullish TL is now broken and retested with a lower high on the 4hr timeframe.
Price has also rejected the daily resistance at 1.71900 so if this is now considered a channel price could drop all the way to lower support at 1.63500
the chart remains simple and tidy, however, there are many different tools to indicate and support our directional bias, in this case, GBP/USD has shown extensive pressure towards the downside, however, the price was unable to penetrate the dynamic area of support 1.26000. Based on previous price action this area showed a lot of liquidity hence why became an area...
After last weeks successful short trade on USDCHF I am looking to go again on the next pullback into the bearish trendline.
Price is making nice lower highs and lower lows. I have the Fib 0.618 retracement level and the bearish TL overlap at the 1.00400 zone which should work well.
Targeting new lows on the 4hr and the previous support at 0.99000
Simple short trade set up on CHFJPY
4hr is making lower highs and lower lows. Price is coming up to retest the bearish TL and Fib 0.786 level. We also have the 4hr 50ema here to act as resistance.
Targeting new lower lows.
- Price has broke through and retested the resistance level
- Possible continuation trend
- Long wick formed on the last 5 min candle. Price may retest this zone again.
- Doji formed at resistance level
- Price may enter a state of consolidation or continue on an uptrend
5MIN & hour timeframe show contradicting signs.