Trend top AB=CD finished Expect pull back to 6.91783 (day chart support)
MACD Divergence has appeared, getting closer to the 20 SMA, RSI looks to be fading... thoughts?
Instead of falling in love with USDCNH’s stellar performance, we should prepare for a major pullback with the potential to erase all of last year’s gains.
Projected price channel and movement for USDCNH on the weekly. Cheers, Keops
AUDUSD has a very bullish long term, intermediate term, and short term chart. We can add to our core positions, if we make a new daily high. We can also take a short term trade once that happens, with a tight stop at the previous daily bar's close. Target is roughly 0.77 for the short term position, and over 0.8350 for the long term entries. Long term positions...
Not sure what's going on here but you would think stocks wouldn't be at the level they are now.
We have a potential breakout of considerable scale in the Aussie dollar chart. I'd highly reccomend entering longs if not in, you can risk either 3 times the daily ATR for the long term, or use Friday's low as your stop, more aggressively. The target is the 0.8350 handle, to be confirmed after the bi-weekly time at mode signal on chart confirms. For now, it's not...
With oil rallying, and China soon to be accepted by the IMF, to include the Yuan in the SDR currency basket, the technicals in this chart suddenly look very good to me. You could go short here, with stops above yesterday's high to begin with. The currencies not affected by today's fear spike due to Deutsche Bank's shock were: the Euro (surprisingly!), XAU, XAG,...
USD/CNH- 08 Sept. 2016 1 hour chart for daily entries All S/R levels has power to reverse the trade, but once broken with a closing candle Support will become Resist, and Resist will become Support. Only trade when levels are touch for the first time with a 15min engulfing candle to confirm the reverse. Do Not chase price, let the price come to the S/R levels...
The pair could drop rapidly once breaking 6.65 price level. Buyers activity has toned down significantly.
We can risk going long USDCNH, with stops under 6.6224. Risk 0.5-1% on this trade. Good luck! Ivan Labrie.
Pair is reaching a resistance level. I'm playing the area to catch a bounce or pivot level. Depends how price reacts off level. If area break, I'll be looking for the pair to head higher.
We're holding longs in this pair. Let's see how it goes, every time it makes new weekly lows it's finding buyers stepping in, which is more evident in the current uptrending enviroment. Rgmov moves constantly up, so it's a good idea to look for longs when it is overextended. Since we have broken all resistances, we could see a dramatic move up from here. Risk is...