A double bottom formation is appearing with a 50% ret. How to trade this chart: Limit order above the neckline (dashed line) Market order on break above resistance line (red dotted trendline) Objective is the previous highs at the 100% level. Potential extension targets are plotted on the chart as 127.2% and 161.8% fib levels. Good luck to all buying USD!!
A fibonacci cluster indicates potential reversal zones, on any chart, in any market. They are used to anticipate major support/resistance levels. In this chart the cluster is made up by 4 different levels, consisting of: 61.8% retracement (dark red) 78.6% retracement (red) 127.2% extension (golden) 0.618 projection (black) Bearish hidden divergence, in which...
Bounced off the descending channel long until next resistance shown on graph
I recommend BUY USDJPY at 110.42 because I see breakout sell channel at m5 timeframe. StopLoss is small, but potential TP is very good. So you can use good volume to try catch good profit SL 110.28 TP 111.49 RRR - 8.4 to 1 risk
High expectation of further easing from ECB likely via the announcement of TLTRO for the banking sector- news flow lining up with technicals on the chart above with the mutiple wave formation
Fundamental Analysis:- The USD is still the stronger of the two currencies with the FED looking at continuing their gradual rate raises over the near term. Even raising rates a little more than expected to stop Inflation jumping over their target. On the GBP side of the currency pair; Teressa May comes under pressure to resign as 40 of her MP's announce a vote of...
This is a long trade which we are going to trade on the other hand there is a ascending channel the the USD/JPY just broke on the chart giving signals or selling but with this we will stick with long Technically, however, the Yen appears to have something of an advantage now. USD/JPY has slipped quite dramatically below the strong, newish uptrend channel that...
Great technical and fundamental tailwinds for this trade. The top indicator is a BB% with the 30MA as its source The bottom indicator is Labu Bear's 'Wave Trend" indicator
I think the pair found the medium term bottom and we are heading up for a nice ride. We have a perfect double bottom. Expecting a retest and buy buy buy.
Here is my step by step analysis for the EURUSD short I am calling. I have published my short reasoning on another chart which I have linked below. I predict a daily chart EURUSD retrace Here is the EXACT snipe entry to enter possible shorts. We shall see how this bold prediction plays out.
long term item of USD CAD to go long and continue on the pattern keep an eye out as ikt could also break the channel which will result in a nice short good luck
sl 1227 short limit order 1206.5 t1 1184 t2 1166 2618 trade setup - short (double top, .618 retracement to enter short trade) US Dollar index (DXY) could possibly find support around 99 to 100.5 for another bullish wave
buy @ 0.96949 it might be a bit early to look at this since C is still forming at the moment but markets can turn upside-down in a matter of seconds so better be prepared!
sell @0.74340
buy @ 0.96614