The trend of the last two weeks is really bearish for AUD/USD. Although, a retrace up has occurred in the US session. That retrace looks almost complete now for four reasons: 1. Stochastic is almost overbought 2. There is some decent resistance below 0.74 3. The previous candlestick is a small bearish reversing signal 4. Most importantly, the 20 SMA is providing...
Yesterday's long from just above the 1.1510 Swing Low proved a success. The subsequent rally may bring part two of the rotational trading plan into play. The basic idea is to fade the extremes of the prolonged "L" formation we are observing on the EUR/USD daily time frame. This is a short trade from just beneath the 38% Fibonacci retracement of the current wave....
USD/CHF has an immediate resistance at $0.9985 and a support at $0.9950. The violation of support level can lead the pair towards $0.9935. Now let's wait for the Bank of England to capture more fluctuations in the market. Good luck!
At the moment, gold prices are in the middle of buying and selling level. So, I will be looking to wait for the prices to reach $1,257 to take a buying position. While the sell positions are recommended below $1,270. Good luck!
The AUD/USD has been one of the worst performers since the ECB and FOMC of last week. Broad-based selling has seen the Aussie fall all the way to 0.7350. Now Westpac - a major Australian Bank - has come out with their predictions for the Aussie. They are suggesting the sell-off has been a little overdone and the outlook isn’t as bad as many have first...
GBP/JPY – Key Trading Levels Support Resistance 144.52 145.88 144.09 146.31 143.41 146.99 Key Trading Level: 145.2
GBP/USD has retraced up after trending down for about two weeks. Although, it has been retracing up today, but the retrace seems complete now. The stochastic is overbought, the 50 SMA provided solid resistance and the previous H1 candlestick closed as a doji which is a reversing signal. So, we sold GBP/USD.
The EUR/USD is trading in a tight "L" pattern on the daily timeframe. The "L" consists of last Thursday's directional move and subsequent three sideways sessions. This is unlikely to change today unless there is a surprise out of the ECB meeting. Here is the plan: Short Trade 1)Entry: 1.1649 2)Stop: 1.1676 3)Profit Target: 1.1622 Long Trade: 1) Entry: 1.1516 2)...
The idea is to stay bearish below $1,276 with a stop above $1,280 to target $1,269 and $1,265. Don’t forget to monitor the existing home sales today. Good luck!
I'm speculating that the inventory draw by 2.1 million is already priced in. Therefore, the oil prices may drop on the release of EIA report. That being said, I will be looking to stay bullish above $65.02 to target $66 before the release of news today. All the best and stay tuned for updates. Keep following!
The AUD/USD has bounced off 0.7350. I think the buyers are around for the time being and I will be looking for a short-term rebound. The downward channel has been paying out well so far. Longer-term I think price can see 0.7500 again, but that will certainly be the roof in price for 2018.
EUR/CHF has become overbought a few hours ago as the stochastic indicator tells us. The 20 SMA has also caught up with the price and it is pushing it lower. Besides, the market sentiment remains negative on trade war escalation. On this basis, we have a bearish bias for EUR/CHF at the moment.
A robust Fibonacci resistance level is present near the 1.0000 handle for the USD/CHF. In the event that we see a late-session rally, this area will likely attract sellers. Here is the plan: 1)Entry: .9994 2)Stop Loss: 1.0026 3)Profit Target: .9962 4)Risk vs Reward: 1/1 On a rejection of par, this trade produces 32 pips.
I will be looking to stay bullish only above $64.85 with a stop below $64.50 to target $65.50. Good luck!
I'm keeping a close eye on $1,283 to stay bullish above it until $1,288 and bearish below it until $1,277. Good luck and keep following!
The AUD/USD has been holding the downward channel. We've already tested 0.7400 and I suspect we can push as far as 0.7350. I think the buyers are about to step up here in the short-term.
Today's negative open on Wall Street may give us a chance to get in on the prevailing uptrend in the September E-mini S&P 500. Here is the plan: 1)Entry: Buy 2752.50 2)Stop Loss: 2744.75 3)Profit Target: 2760.25 4)Risk vs Reward Ratio: 1/1 On the daily time frame, this market is technically in an uptrend. A test of the current wave's 38% retracement level will...
It appears that June BTC futures may be setting up an intermediate-term low at 6100.0. The weekly opening GAP at 7100-7500 has not yet been tested. We may see a return to this area in the coming sessions, possibly over the weekend. Here is the plan: 1) Entry: Buy 6705.0 2) Stop Loss: 6435.0 3) Profit Target: 7140 This is a long-position trade that will go live...