Hello Sophisticated Trader, Similarly to the $AUDUSD, the $NZDUSD has been holding support since .6388. The pair has been holding strong support of the trend line. This coming week towards the month-end, we could expect a rally potentially towards .6700. Only a close below .6388 would negate the pair bullish momentum toward the top. Like, Comment, and...
Hello Sophisticated Trader, Our long DXY from Last week did go and test resistance. This coming week, the $DXY has seemed to test a double top and is likely to test the bottom back at 96.25. So, I'm looking to short the DXY for a test of the bottom of the current range to find support for the month ends. Like, Comment, and Follow. Let's Make Money...
Hello Sophisticated Trader, Last week long on the USDCAD worked out amazing and the pair has reached a key resistance. Therefore, this week we are looking to Short $USDCAD against 1.3700 as the pair seemed to have rejected the resistance. This potentially leaves the downside vulnerable this coming week, especially towards the end of the month. Any other spike...
Hello Sophisticated Trader, Since early June the $AUDUSD has held strong support of .6840, which is also the upward trend line support. At this point, I have lowered my expectation of a dip to .6700, even though this would be nice. But the $AUDUSD, is making a clear path, especially on the monthly chart for a potential test of .7200. With Monday and Tuesday being...
Hello Sophisticated Trader, The $AUDUSD as finally showed some form of reversal that now put .6700 in view. The break of the 100MA on the 4hr indicates that the pair may test the breakout levels before deciding what it wants to do. The double top with January high could also be an indication that a long term top is in place. However, we will wait and see. For...
Hello Sophisticated Trader, The $DXY has finally broken above the 97.00 resistance and the 100 MA on the 4hr, this is indicating a possible move up for the bull for another test of 98.00 and possible 99.00. This is extremely helpful when trading, as the dollar index has become the main market driver. In addition, the renewed coronavirus fear most likely have an...
Hello Sophisticated Trader, Last few weeks $BTCUSD showed an indication of testing 10,000 level, which it did for a moment. However, this week the pair is looking to break the trend line. A break and hold here would indicate a possible retest of the $8,000 level or lower. It's also possible that the reemergence of the coronavirus potentially will have an impact...
Hello Sophisticated Trader, Along with the DXY renewed strength due to the coronavirus fear, the fundamentals seem to point to a potentially weaken the Canadian economy. The Pair has recently broken above the 100MA, a major resistance level and is suggesting a potential rise over the coming week. While 1.3500 stay supported, the pair would have its sight at...
Hello Sophisticated Trader, The $NZDUSD has a similar setup with the $AUDUSD, coupled with the renewed dollar strength that could potentially make this pair an attractive sell for a test of .6200. Any retest of .6500 would support a short and only a break and close above recent high would negate the potential test. Remember to buy on support and sell on...
The rally is still over extended, and has not gone anywhere in a few day, indicating that pull back will be soon to support .6515 or even .6400. Also, we have RSI Divergence. I'm looking to Sell .6666 the AUDUSD for a pullback. At which point I may go Long again. I'm keeping my stop tight .6685, as to limit my losses. Follow, Like, Comment Let's make some money...
Hello Sophisticated Traders, Though the pair broke below 1.3900 and this bothersome and suggest further losses, the market is over exhausted from the move with thin market condition. The Pairs has tested 1.3734 and a hold here would seek a bounce and aligning with dollar strength. Therefore, I'm looking to long this pair for the bounce and potential test of the...
On this test of support at the bottom of the range I am looking to buy $USDCAD for a test of resistance. If this break is confirmed and hold, then this trade is no longer viable and further losses can be expected. However, until then I would proceed with caution and favor a long at support. Especially, since the pair is in oversold territory, however, I am...
Hello Sophisticated Traders, With many people short the NZDUSD is causing current long squeeze along with thin market condition, however, it has not yet negated the overall structure of a down trend. Only a daily close here and above these levels would negate the coming fall. I would wait for the market to exhaust itself before entering, but this setup provide a...
Selling this rally into resistance have made the Aussie Dollar an attractive sell for the a test of the bottom of the range, within a longer downtrend. The shorter timeframes are in overbought territory which makes it a better sell. Only a daily close above .6680 would negate this trade. Note: the rally could extend so wait for a test. I'm interested to hear if...
Hello Sophisticated Trader, Analyzing the $BTCUSD, I noticed the pair has broken a support on a daily timeframe and is hinting additional fall over the coming days and weeks. The US Fundamentals are supporting for a stronger dollar, coupled with the economic crises globally the impact isn't over. Based on the charts a short would provide a good risk and reward....
With this weekly close below the EMA9, the CADJPY continues to test a firm resistance and retreat. The $CADJPY is looking like a Short against Weekly Close of 78.00 for a test of the low at 73.00. The current price is at 76.68, which would provide a good risk to reward for this pair. Only weekly close above the weekly high of 78.00 would negate this pair's bearish...
The Nzd/usd is at the top of the range and because of the fundamentals I don't think that the pairs have enough to break the top. Therefore, the rally and any rally should be sold. I am looking to short on the pair for a test of .5900. Stops Weekly test of resistance .6234 close. Only a Weekly close above recent high with Negate this trade. If you're looking to...
The USD/CAD has held support at 1.3900 over the last few weeks. This on a weekly and monthly charge would show that a triangular pattern formation is being formed, if the support holds. This along with fundamentals of supporting the dollar rise, Would support a long here. Therefore I am looking to buy the usd/cad on a weekly basis for a test of recent high of...