I'm looking for shorting AUD/USD this week from both Fundamentally and Technical Perspective
Fundamentally AUD is weak because is too hawkish on RBA and most of the recent news came worse than expected. The recent gain is very likely because of the commodities rally but that should be short lived.
On the other hand, USD...
Looking short on this pair as the previous day candlestick closed as a strong bearish marbozou. However, on the open of the market we can expect a pull pack up to the 4 hourly 50-61.8% level (1.23500). If price breaks above the bearish trend line we could expect price to move up to the 61.8% daily level (highlighted by red box). As traders we must understand...
Many Reasons i believe this pair will continue on the upwards trend.
- Impulse leg forming a flag, if we breakout of the flag then bulls will take over and push price up.
- Possible inverted head and shoulders pattern, if neckline is broken then we will see yet again another rally in price upwards.
- Key Daily Support Levels are being tested, and i believe we...
Its been in a consolidation for about a week (Due to the holidays), if it breaks on the downside prepare for a sell but keep an eye for any fake breakouts.
When I activate my trade. I will hold unto this position till around the 78.6% (0.9396) Fibonacci mark and leave my SL around a few pips above the consolidation pattern.
I expect a retracement on this pair to around 107.300, could go as low as 106.000. Just going to be patient and wait until this setup happens. I want a close below 109.800 for a short entry, but along with confluence for a trade to drop.
The head and shoulder in EURUSD is now completed and potentially the pair could be in much lower level by year end ahead of Fed interest rate decision. There are several other price action indicators that suggest EURUSD could go lower and we think it this trade present a good risk and reward opportunity.
Very basic set up. I believe USDCAD is going to sell to the 31.8 fib level, which is also in confluence with a mini structure level: 1.33440. Furthermore i also believe its going to sell off as you'll notice its at a key resistance level in which its rejected 3 times already : 1.34131. Moreover, its also decent risk to reward oppourinty.
I believe we are going to see Eurgbp make a move to the upside towards the 0.92523 level. As you can see we've already had a spike at that level previously in September, the market has pulled back significantly, which i believe is only a breather in preparation for another rally to the upside.
Moreover if you look back, you'll see the 0.88285 level acts as a key...
Traders - do not be fooled, the recent bearish movement of eur/nzd is purely a retracement following the pair's 2015 move - classic bull flag stuff. On daily chart, the pair closed above the falling trendline that has been in force since mid July, signalling further bullish action for the pair.
I suggest longing upon retest of falling trendline following...
i am currently short on nzdusd from today's UK session test of the 50% weekly fib. entry at 0.7475
a possible trend line could form if the reverse continues, price has currently retreated below the weekly 200EMA a close below would be further confirmation.
daily chart is forming a bearish engulfing pattern and a close below 0.74 level further...
Nice counter trend trading opportunity here. Why?
1. We have fibonacci confluence from a previous high @ 618
2. RSI is overbought
3. ABCD completes close by
4. We are at a strong trend line support
5. We also have a diagonal trend line resistance (not currently drawn on) which would support the shorting bias.
Depending on your strategy you might require some...