Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.6450). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
USDCAD has been up trending for a number of weeks, bullish momentum being boosted by a weak CAD on Januarys BOC interest rate data.
The daily timeframe is still downtrending however, and we have several indications of a bearish reversal (see annotations)
Long term target is the previous daily low at around 1.296.
US/Canadian dollar observed on daily timeframe.
Wednesday's daily closure illustrates a clear rejection of the 1.31 psychological level. By observing higher timeframes we can see this zone is a significant area of multiple price rejections.
Now price has managed to break the zone and complete the retest I am looking to enter a short position on the pair...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.3065).
if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.6415.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6455.
TP4: R2=0.6465.
Set the stoploss of these orders at breakout of S2=0.6405.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.638.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.642.
TP4: R2=0.644.
Set the stoploss of these orders at breakout of S2=0.637.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2815.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2875.
TP4: R2=1.29.
Set the stoploss of these orders at breakout of S2=1.277.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.688.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.6915.
TP4: R2=0.693.
Set the stoploss of these orders at breakout of S2=0.686.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3125.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3175.
TP4: R2=1.3205.
Set the stoploss of these orders at breakout of S2=1.311.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.627.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=0.631.
TP4: R2=0.6335.
Set the stoploss of these orders at breakout of S2=0.626.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The US Dollar could edge lower as much as 100 basis points within this session.
Traders and investors are awaiting the US macroeconomic data releases, namely, the US Non-Farm Payroll, Trade Balance, and the US Fed's Chairman speech, which could increase volatility in the market.
The analysis indicates the related fractals and their sequence. It is clear that the exchange rate may begin to build a declining fractal. In case the analysis is correct, according to the fractal rules, I expect to construct a double-sized fractal (shown in a green rectangle). The target price is around 12000 levels.
Dollar Index - Weekly chart - After patiently waiting ( for monthss!!) for dollar index to rally into the weekly supply zone for a reversal, we have now reached this point and can anticipate a share reversal/decline for dollar in the coming weeks to months.
Technical analysis:
. ARK/Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 52.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.37116000 to 0.26149000). if so, traders can set orders based on Price Action...
NZDUSD dropping after testing long term trend line, looking to retest daily trend line - if it breaks out at trend line convergence (0.65736) we are expecting a bullish rally back up to resistance (0.66815) for retest - potential for +107 pip capture
