AUDCAD bounced on a monthly support giving us a nice divergency on the daily RSI. The pair is currently consolidating but I'm expecting a breakout upwards due the bullish push prior to the consolidation. Targeting the 61.8 Fib level.
The price currently seems to be moving upwards in a bullish channel. The price has tested the resistance level of the channel on a number of different occasions, all of which have failed, the price has just tested the resistance once again and I believe the same to be true. Over the last month we have saw the price teste the resistance two times, on both of these...
Looking at a great short setup on Euro versus New Zealand Dollar on the recent move higher coming up against resistance dating back to early January at the same time as volumes are dying out- suggesting this rally up to the resistance level is running out of power to break any further higher.
This coupled with multiple indicators showing...
Good morning traders,
Today we are starting with a look at Aussie dollar and US dollar.
After positive Chinese growth data came out overnight- GDP and industrial production both beating estimates- Aussie dollar spiked up to the 0.72 area where it has previously found strong resistance both from the psychological aspect of a round number and this area coinciding...
Good morning traders,
And welcome to a new week- our recent tradingview charts were unfortunately removed due to us breaking house rules of including our website in the title. So we are reposting this US dollar Japanese Yen setup from Friday which is still live. Friday was an extremely technical day with option expiry's driving Yen pricing into the end of the...
After last weeks successful short on AUDUSD from 0.71 down to Novembers low (blue dashed line) we sat out whilst it bounced back to 0.71 resistance level and looking to RELOAD our short here again.
The bounce has taken us to 60 area again on RSI- as per chart we have sold off at similar levels from here- looking for a retest of Nov low before seeing a break down...
Interesting structure- if GBP/JPY can break the horizontal green line then we could potential see price retrace back to 50% level on fib which also corresponds with a significant level of structure, if price breaks below this level we could watch out for the 61.8% level and look to exit the trade here or be on alert.
Staggeringly high uptrend in XAU/EUR in which the price may need to let off some steam and thus lose some gains, based on fib and structure TP indicts levels in which the price should be watch/positions closed.
FX street publishing an article discussing the strength of USD and correspondingly the challenge AUD will have breaking above certain levels. In my view if AUD/USD can push past the MA a long position should be taken indicated by the green line. SL and TP have been set at levels of internist to me and give a RR 2:1.
The long position in GBP/CAD has been taken to test correlation with the UKOIL trade place earlier. Analysis on this is currently being kept to myself until the trade is closed, whether TP or SL is hit.
The position to be immediately executed is short UKOIL due to the fact it is trading near a previous resistance level which is seeming to be a good market structure level to enter from. The RSI again is not very helpful in conformation but the MA shows us that the price is trading above and therefore price could potentially need to let off steam before continuing...
Triple hit of support with RSI divergence.
Using heikin ashi smoothed (2-2) waiting for confirmation green candle.
Health and momentum is weak
Simple analysis but don't need to overthink this one.
Enter trade on 4 hour for tighter stop loss VERY important you know how to do this right.
GBPJPY - short opportunity based on structure, as strong resistance reached as well as some form of RSI divergence present.
Sell limit placed little bit higher and therefore great risk rewards ratio acquired.