Weekly chart shows a more clear picture to me. We touched a major Weekly support at 42.295 in December and now we moved very strongly upwards.
The 200 EMA is is at 50% Fibonacci level, which could be next strong resistance, also the 38.2% Fibonacci level at 55.525 will be a key point, but I would like to see the price to reach 59.6 (up until 63.70 would be even...
USDCAD is in an uptrend channel and has previously respected the channel. We had a drop from channel top and 200 EMA is acting as a support. On Friday we had a strong rejection from 1.335 area but it did not break the last minor swing low at the same level.
I think there is still room to small down move and a move up should take place around 1.31300 area. TP1 is...
USDJPY is in a range market, so we are going to play the range until a breakout. We had a bounce from the bottom of the range at 108.2 area and if the range holds, then we may go up and test the top around 113.6-114.0 areas.
GBPUSD broke above 200 EMA and Daily R2 pivot, which could indicate a continuation upside. A potential retest of 1.31 support would confirm it, alongside of downward channel breakout.
Potential TP-s are at 1.33 and 1.37 (long term).
For EURUSD I have a mixed bias fro the next week.
It seems pair is in consolidation box and is looking for a proper breakout.
In a long-term setup, I see the price to break downside, as it is below 200 EMA and in a downward channel.
I would look for a shot entry at 1.15 levels, if the price does not break and retest above 1.15.
I did not plan to trade this pair last week, but after NFP I saw a potential bullish setup on M15 and took the trade at 76.518 level. I have 2 TP levels on this one, 1st one 77.687 and 2nd one at 78.668 area.
I do expect a struggle at my TP1 level with a possible rejection. If so happens, then I expect the pair to test Weekly support at 74.500 area.
UJ most likely will re-test 109.700 area which is strong Daily S/R and last swing 62.8% Fib level.
I expect for UJ to test the low of 105.00 / 104.900 area before reversing into bullish trend.
On the lower timeframes, H4 and H1, we have a valid bullish setups until mentioned 109.700 - the January NFP channel is giving a nice minor support level (approx 115 pips).
To me GU looks bearish. It should do a retest of 1.28400 area, which was previous consolidation and Daily S/R area and also last swings Fib 50% level.
On H1 the pair is at 1.2500 level, it did close above January NFP levels, but also testing Decembers NFP levels, which is a sweet-spot for short setup, if Dec-NFP is not broken.
In the long run, I expect GU to...
EU is stuck between 1.13100 and 1.14760 range.
Until it does not break one of those ranges, it is impossible which is the right way to trade this pair.
In the long run, it looks like EU is trying to break upwards, but the Weekly resistance of 1.14760 will be a major struggle.
I kind a like this pair more and more. It has reasonable volatility, not a crazy one, with 100-200 pips daily moves. With this setup, the obvious trend is down. The previous swing high (a re-test) reached MPP and 61.8 Fib-level, which indicated possible continuation down. A bit too cautious entry at 0.65006 with TP at 0.64384 and SL 0.65487 gives RR 1.29...
My previous idea of shorting this pair did not work out, it hit SL and had strong reversal last week.
My idea for this setup was, that the pair broke out of strong resistance at MR1 and would do a re-test with a continuation. Right now it looks like it will reach the TP zone without re-test today and maybe will do one next week. Not a great setup, as RR is 1:1...
USDJPY has been in a range for quite long time. The H4 upward trendline has been a good support and the price has bounced up from it. I expect the price to continue move upwards to test MR1 and maybe even MR2, but first it has to break and close above MPP at 112.848 level.
This trade I was waiting for since early October. I must say, the analysis was correct. I was expecting a MR1 level retest and move downwards, which has happened. Although my trade did not trigger, it was missed by 5 pips :(, the rest of the trade went to plan. Potential TP with +442 pips was reached. Trade length 13 days, 8 hours... a loooong wait for me.
The pair was playing around the MS1 level in the beginning of the week and broke previous low structure. I was looking for re-tests and missed first of them on Wednesday (Oct-24), about 85 pip move. I hoped that there will be another re-test and continuation towards MS2 level at 1.13578. I placed order at 1.42245 with TP 1.13363 and SL 1.15118. The trade was 1:1...
USDCAD short setup is still in the making, not yet ready. The pair is in a downtrend and has reached significant resistance zone at 1.30100. Several indications are pointing towards downward continuation move.
The price has reached Daily resistance zone of 1.30100, which is also a 61.8 Fibonacci retrace zone and a Monthly pivot point (MPP). RSI is reaching...
I see a potential EURUSD long setup emerging. The price has stalled at 1.1480 area for 4 days, which is a 61.8 Fibonacci level and also a MS1. The RSI is in oversold area, which could indicate a reversal and an uptrend move.
In order for this setup to be more valid, I would like to see the price to close above 1.15480/90 level, which is a Daily resistance to be a...
This USDJPY long setup is still in the making, nothing sure yet.
On October 4th 2018 price almost reached Monthly Resistance 1 (MR1) pivot point (114.80) and got rejected very strongly. The price has been rejected from this level (114.60) strongly since beginning of 2017.
If the price drops down to 112.85 area, it would reach 38.2 Fibonacci retrace level and...
The EURCHF pair is in the range between 1.14750 and 1.12690. Current price is at the top of the range, which has been a resistance previously and the RSI is also in overbought area, which gives an opportunity to short EURCHF.
There could be a strong support at 1.13300 area, which is also a Monthly Pivot Point and a round number. But there is no significant...