Keeping a bullish bias open for this currency pair. After a strong week last week for the US Dollar we are hoping for continued strength against the Yen this week. Structure has been forming nicely since this uptrend began in mid - September, the daily support level of 111.705 could be once again retested before we see a push upwards towards our overall target of...
From the chart we can notice that after the false breakdown of the downward trendline, there was a sharp fall. Helping us with RSI and CCI, can be seen from the first one that has come to an area from which the price often corrected, while on the second there is a clear divergence with a return above -100. We are also faced with a support area, highlighted by the...
Cable has retested previous resistance and subsequently formed an inside bar.
The aggressive move is to go with the break of the inside bar.
Conservative trade is to go with the break of the "mother" bar.
Targets are the dominant swing high or recent lows.
I am biased to the upside on this pair.
Price has tested ATH area. This is an area of resistance, and I fuly expect a reaction at these prices.
Due to RR, I will favour a move to the downside, but will be cautious with entry in order to not get caught out with a break out.
*Weekly chart used for illustration only NOT entries
ADX approaching overbought levels
Price is retesting a previous zone of congestion and support.
With a test of the 50EMA, this is the last opportunity for the bears to remain in control.
I will be watching intraday for a reversal in the highlighted area.
This is not the strongest setup, but in the markets, anything is possible!
A pin bar at the 50% Fib level gave price a little relief, but price action suggests this rally is over, with no bullish follow through in the days that followed.
I will look to get short on a break below the pin bar wick, and perhaps a little higher if price action presents an opportunity.
Targets would be next support/prev resistance at $49, where there is...
Price bounced to retest previous support which seems to be acting as resistance
Following NFP, the Dollar appears to showing some weakness despite a positive number
Intraday, I will be looking for short opportunities with targets are previous lows.
The trend line has been respected since the 23rd of November 2016. I will set my order when it touches the trend line but ONLY if it doesn't break it but respects it. I will then leave my order and hold it till around the 87.500 levels.
It has respected the trend line for more then 4 weeks which would indicate a strong support. I have left my sell order just below the 1.00153 level which will activate my order and will hold unto it till it hits around the 31st of January's low.
After breaking to new lows price found resistance at previous support, which has confluence with the 50% Fibonacci level.
However, the trend did not continue, forming a higher low. Price has again come into this area of support formed by the higher low, forming a double bottom on the hourly chart (not shown).
A long trade here has two nice targets: the recent...
Disclaimer: This post is not a trade signal.
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Following an 80 pip gap up, today's session has closed as a very strong bullish candle.
The DAX has been consolidating all year, with no direction. Today's candle is finally suggestive of bullish momentum building.
I am now looking to take a swing long position, targeting the All-Time Highs at 12390s.
Intraday I am firmly biased to the long side, and will look to...