MJFxedge

MJFxedge

If current Brexit uncertainties persist and good data come from EU, I will be closely watching 0.9100 area on EURGBP and see how price action behaves. If it shoots up straight through resistance with immediate retrace and possible shooting star in forming, I will be selling just below resistance. See the stop loss and target levels on the chart above. As always do...

MJFxedge Updated 

As we are getting some positive news re US China talks quick buy with very tight stop. Might close it before it reach Target or Stop level depending on changing circumstances

MJFxedge

After todays Bank of Canada decision and dovish statement USDCAD is trading at June highs. If it manages to stay above 1.3385 there will be clear case for buy, but will be watching closely dollar strength tomorrow as today US markets are closed and the volume is thin. Trading at years high also make it low risk sell

MJFxedge

Selling pressure has just accelerated after MPs vote on contempt of parliament and we will look to sell any small rallies coming into the Parliament vote next week. The broken triangle will as well serve as resistance and good place to set additional positions

MJFxedge

NZDUSD continues higher towards 0.70 on positive tone from US/China trade negotiations, but we ere bound to see some profit taking at 0.70/0.7050. Beyond that level is difficult to project what will support kiwi strength as RBNZ is nowhere near to raising rates. The only thing that might push the price higher might be Feds reluctance to continue tightening and...

MJFxedge

Despite slight dollar weakness and and better then expected consumer confidence sentiment AUDUSD fails to recover and is back closer to 0.72

MJFxedge

International trade data from NZ for October 2018, a miss: deficit of 1295m NZD vs. expected deficit of 850m gives us opportunity for some quick pips on sell side

MJFxedge

Riding on risk on conditions and hopeful Brexit deal until it gets hit by some negative news quick opportunity to go long on this triangle pattern

MJFxedge

As Italy budget worries cool down and todays slight risk on sentiment gives us an opportunity to sell EURUSD if it reach the resistance around 1.1400/1.1420 area

MJFxedge Updated 

In previous idea that I posted we had a look of No deal scenario which I will link it below. Here I want to point out my plan in case there is a deal and that deal is accepted by UK Parliament as well the ones in EU countries. After initial uncertainty which will give strength to OANDA:EURGBP I will see how price behaves 0.90 and whether it will break that...

MJFxedge

I would like to run few scenarios of possible outcomes of Brexit saga. On this chart I have projected what might happen if we have No Deal. After initial mayhem I do believe coming summer/autumn 2019 things might calm down and we would have more positive outlook on GBP. Until then in case of this scenario I will be looking to buy FX:EURGBP at pullback after...

MJFxedge

This is a position that I took few days ago based on testing upper resistance and recent high in the area of 114.

MJFxedge

GBPJPY at the moment is guided by the shortest term bias and view that traders have regarding every Brexit rumor. Last week it was classical FOMO with see saw moves but that is slowly fading away and general risk off sentiment across the board of currencies is taking presence. Here are three scenarios of possible price action in the coming weeks

MJFxedge

On Daily chart we are waiting to test the demand area before entering long position. Usually before getting into trade its best to see how price behaves around important level; will it break below, will it have false break or will it just recover after successfully testing it. What will drive the move will be of course fundamental picture and sentiment of the day