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theforexportal theforexportal GBPUSD, D, Short ,
38 0 1
GBP possibly weakening

GBPUSD has 6 trading days been unable to break free of the channel it has found itself in. The support at 1.2780 is supporting the price but 1.29 looks out of reach from these levels. With RSI declining and H4 TDI very BEARISH, we could be about to see the BULLS give ground to the BEARS. Adding to the possibly BEARISH picture is the downward channel edge that ...

theforexportal theforexportal EURCAD, 240, Short ,
38 0 3
EURCAD, 240 Short
SELL EUR/CAD at market 1.4807

Signs of the EUR BULL run coming under pressure and with RSI dipping down towards 70 from overbought this looks a good place to SHORT EUR/CAD. First target will be the rising trend line although where price will hit this line is uncertain. CAD Retail Sales at 13:30 will have to be watched so its advised to tighten stops before this release as a poor print will ...

theforexportal theforexportal SPX, M, Short ,
60 1 1
SPX, M Short
SELL SPX500 under 2322

March put in an indecision doji candle and May appears to be doing the same. Coming at the end of a strong BULL run, this clearly shows there are increasing doubts as too how much further SPX500 BULLS can push the price higher. The Monthly RSI reads 71.16 slightly down from last month and but still in overbought territory. If we dip below 70 this could be a good ...

theforexportal theforexportal AUDCAD, 240, Short ,
20 0 1
AUDCAD, 240 Short
AUDCAD may be about to reverse

The AUD has performed well over the last week but with price now reaching overbought and AUDCAD approaching double resistance, we may see a decline from these levels. Being a holiday, volumes will be down but this can lead to volatility. We are taking a small position and SHORTING this pair from 1.0094 with a STOP at 1.0140 above all the resistance.

8 0 1
Unclear direction for EURCAD

With the DTF TDI signalling SELL and the H4 TDI signalling BUY its unclear which way this pair are headed. EURCAD is in a down trend as long as we remain below the 200 sma on H4 and DTF so the BULLS will need to take the price above 1.4279 to change the BEARISH picture. Price may head north initially but as long as we remain under 1.42 any pullbacks should be sold

theforexportal theforexportal EURCHF, 60, Short ,
10 0 1
EURCHF, 60 Short
1.0624 remains key to EURCHF

With the price of EUR/CHF just 30+ pips away from critical support, it remains to be seen if EUR/CHF can break out of its long established channel. Political turmoil and a flight to the CHF could bring pressure on this pair in the next few weeks and months but its more likely we'll continue drifting. We are SHORT this because of current political uncertainty and ...

theforexportal theforexportal EURGBP, 60, Short ,
14 0 1
EURGBP, 60 Short
Maribuzo weekly candle suggests more downside to come on EURGBP

More downside expected on EURGBP as last weeks candle was a BEARISH Maribuzo. With the H4 200 sma and the DTF 200 both together, it would take something quite remarkable for the BULLS to defeat this level (.8622) and the path of leat resistance is clearly down. Oversold on H1 means we cannot rule out a bounce from these levels but any pullbacks are an opportunity ...

theforexportal theforexportal EURJPY, 60, Short ,
14 0 1
EURJPY, 60 Short
EURJPY likely to continue is southerly direction

There's little to stop EURJPY continuing its direction south and there's little support before 113.69. Oversold conditions on H1 make a SHORT trade from these levels risky so it may be prudent to wait for the price to ease before shorting.

theforexportal theforexportal EURUSD, 60, Short ,
41 0 1
EURUSD, 60 Short
BEARISH outlook continues for EURUSD

EURUSD looks to be headed for support at 1.0539 and a break there opens up a deeper move down. Above 1.0674 turns the picture more BULLISH and takes the pressure off the downside.

theforexportal theforexportal GBPNZD, 60, Short ,
16 0 1
GBPNZD, 60 Short
GBPNZD looks to be weakening and follow GBPAUD

As with GBP/AUD, last weeks GBP/NZD weekly candle was just about BULLISH but price currently is 240 pips below the weeks high. Technically a move down to support at 1.7739 and key support at 1.7696 looks likely adn then we will need to see if this support holds. If 1.7696 fails (200sma on H4) then a move down to 1.7570 (200sma on DTF) lokms and under that we could ...

theforexportal theforexportal GBPAUD, 60, Short ,
12 0 3
GBPAUD, 60 Short

Last weeks weekly candle showed that GBP/AUD finished the week higher then when it started but any encouragement that this gives to GBP/AUD BULLS is misplaced as the price hit 1.6722 earlier in the week and now stands 200 pips lower. Technically the picture is extremely BEARISH on all key time frames and its hard to see how the G/A rallies from these levels. With ...

theforexportal theforexportal GBPCHF, 60, Short ,
9 0 1
GBPCHF, 60 Short
GBPCHF looks to be weakening

The last 3 days have seen 3 indecision doji candles suggesting the BULLS are running out of strength. As long as we remain above the 200 on the DTF we must assume we are still in an uptrend but with RSI weakening, a move back to support must be favourite. I'll be looking for a move down to 1.25 in the next trading week and see if support here holds. With political ...

theforexportal theforexportal GBPCAD, 60, Long ,
11 0 1
GBPCAD, 60 Long
BULLISH structure remains

GBPCAD BULLISH structure remains intact as long as we stay above the H4 and DTF 200 SMA's. Fridays daily candle was a perfect indecision doji suggesting the BULLS and the BEARS had an equal share of the action on Friday and from a technical standpoint a move down to support at 1.6643 looks possible where we may see the BULLS move back into the market. Under 1.6618 ...

theforexportal theforexportal GBPJPY, 60, Short ,
22 0 1
GBPJPY, 60 Short
Gloomy outlook for GBPJPY BULLS

With key support at 136.75 broken and price now trading under the 200 sma on the Daily, more weakness in G/J is likely. The rising trendline shown, which comes in at 134.76 may offer support but this seems unlikely. Adding to the BEARISH technical picture are political tensions over North Korea and Syria/Russia which will lead to investors seeking out the safety ...

theforexportal theforexportal GBPUSD, 60, Long ,
42 0 1
GBPUSD, 60 Long
GBPUSD in a rising wedge looking at 1.2574

GBPUSD is in a rising wedge pattern and is looking at a retest of 1.2615. 1.2500 looks key and as long as we remain above this level we should move higher. Under 1.2500 turns the picture BEARISH for a potential move back to 1.2380.

theforexportal theforexportal GBPJPY, D, Short ,
33 0 1
SELL GBPJPY at market - key support broken

We are SHORT this pair from 136.69 and 136.55. The key support level at 136.45 has broken and although price is now bouncing off WS1 support at 136.40 we think this pullback will be short lived and GBP/JPY looks on the edge of collapse down to 134.00

28 0 1
GBPJPY poised for a move higher?

136.65 has held up G/J BEARS and the falling trendline shown (red) is holding up the BULLS. On the Daily TF TDI (not shown) the price is becoming increasingly squeezed with just 14 points covering the volatility bands and the RSI, Market line and Signal line all held within this tight range. The RSI on the DTF is headed up indicating a general BULLISH look but ...

39 0 1
Where is USDCAD headed?

From early 2011 to early 2016 USDCAD rose steadily. On hitting the .786 Fib level price swiftly retraced down to the .50 Fib and since then price has largely traveled sideways between the .50 Fib and the .618 Fib levels. This makes trying to work out where USD/CAD is headed very difficult if not impossible unless certain levels break. North of 1.36 would suggest ...

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