AUDUSD is falling towards the 0.7100-15 area where the bottom of the channel that contains the move from October highs and the lows of last August coincide. The extreme RSI levels are sowing that a reaction is possible from these levels but a new low will be made as there is a lack of divergence... We will BUY at these levels setting the stops below 0.7070,...
GBPUSD has tested the previous lows showing reversal candle signals. We BUY at current levels setting tight stops below the lows. Our target is the 1.3375-80 area...
EURGBP is forming a sideways pattern at its lows and the technical picture favors one more leg up and a potential breakout. We open BUY orders at current levels (0.8400-05) adding more at 0.8380. We will set the stops below 0.8368 targeting 0.8430-35. If price breaks above 0.8430 on an hourly close we will buy again for 0.8470-80 target, setting the stops below...
GBPUSD has tested the lows and has given reversal signals. Further continuation of the move is the most likely scenario. We will buy at current levels adding more at 1.3360. We will set the stops below 1.3320 targeting 1.3405-10.
EURUSD is heading for 1.1290-1300 area where multiple technical resistance indications are gathered as seen in the chart. We believe that the breakout from this area without prior retracement is difficult so we will test this assumption with Sell orders at 1.1295, setting the stops above 1.1330. Our initial target will be 1.1260. If a retracement occur before...
NZDUSD looks like it is ready to make a pullback towards 0.6965-70 area as it comes from an oversold technical picture. We will try small positions at current levels (0.6930-35) setting the stops below 0.6920 targeting 0.6960-65.
CADJPY has already tested the top of its downward channel and a retest of the previous lows looks like a possible scenario. We will try small positions at current levels adding more on a clear downward break of 90.15. We will set the stops above 90.55 targeting 89.95 and 89.75
EURUSD is forming a sideways pattern at the lows and the bottom of the daily channel. We believe that an up leg is in the making and it will lead at the 1.1320-25 resistance. We are Buyers at current levels setting the stop below 1.1240 targeting 1.1315-20. Initial resistance at 1.1300
USDJPY has reached the first important resistance levels for a pullback after the break of the H&S pattern and now we believe that a new leg down is in the making. We are sellers at current levels (114.15-20) adding more at 114.50. We will set our stop aabove 114.65 targeting 113.80 and 113.60
Usdjpy is forming an H&S pattern. We believe that the right shoulder is in the making. We are sellers at current levels adding more at 113.60. Initial target the neckline. After the initial target is met we will close half position, move stop at BE and go for the break.
EURUSD has already tested the bottom of the daily channel that you can see in the chart below showing the initial signs of reversal and now the top of the hourly channel at the 1.1335-40 area is going to be tested. We have already bought small positions in order to test our upside scenario and we are going to add more with an hourly break of the 1.1340. We will...
Several studies have found a connection between moon phases and the performance of the market. You can research the internet and you will find many articles on this topic. In the chart above we have marked the Full Moon dates for the past 2 years in order to give you a visual representation of the Full Moon and important shifts in the market. It is impressive to...
EURUSD continued its downtrend after the downward breakout of the sideways formation and now it is approaching the first important support area for today at 1.1325-35 area. As we can see in the chart, the downward channel and S1 Pivot provide technical support at these levels and a bounce is very likely. Below 1.1330 lies 1.1290-00 where 61.8% retracement is...
USDJPY continues its sideways formation and our yesterday's idea for a potential H&S pattern didn't came through. Now a double top formation seems to be unfolding. Risk reward for this trade is good, so we try SELL orders at current levels, targeting the base of the formation. Stops could be set above 114.55... We keep the positions small as we have not yet...
USDJPY is forming a sideways formation and we believe that it is going to unfold as an H&S pattern. The right shoulder is in the making which means that price might go a bit higher at 114.10-20 before the drop. We will try small sell positions at current levels adding more at 114.10-15 or with a break of 113.70. Our target will be 113.30-40 area...
AUDUSD is facing multiple technical resistance at 0.7350-60 area. The top of the downward channel, the R1 Pivot, EMA 89 and 50% retracement level from last tops are making the continuation of the upmove difficult without prior retracement. We will SELL at these levels, setting the stops above 0.7385, targeting 0.7315-20.
EURUSD is showing signs of reversal after last week drop. As we can see in the hourly chart price has stalled and formed a sideways formation at 1.1430-50 area, while RSI has already formed an uptrend. In the Daily chart below we can see that the trendline that joins the major lows during the downtrend from June is being tested again. We will ise an hourly close...
GBPUSD is facing multiple resistance at 1.3595-3605 area from trendline, previous base R1 Pivot and 61.8% retracement level from previous High. We expect selling pressure at these levels, so we open SELL positions targeting 1.3580