Gold is playing out as I outlined yesterday with prices falling from resistance/ascending trendline from 1218 to 1208. I am looking for a long from here to 1250 with 1:3 risk/reward. Happy trading!
GBP/USD has been on a nice bullish run this week, however prices are failing to break this highlighted area and it is also being capped by the 27% extension fibonacci level. I will look for bearish price action on lower time frames for a sell into the 1.2415 area
USD/JPY has been capped at the 61.8% Fibonacci retracement after a nice rally and now stands in this ascending channel. This pair has been making lower highs and lower lows so is in a technical downtrend, alongside trading in this descending channel. If prices break this channel I will go short and target the monthly support at 111.50.
WTI has been capped at the 61.8 fib level confluent with support for the 4th time, we can expect lower prices. I am watching price action for short opportunities
This pair did not present any intra-day longs so its back to the long term short bias. A lower time frame head and shoulders formed giving short opportunities. Prices are now back below key support and approaching an area of interest. If you are not in on this, shorts can be entered on a retest of 1.3280, a break/retest of the area of interest or a break/retest of...
Gold is back above support after the dollar started to weaken post-Trump's Inauguration. Dollar index is now back below 100.00 with not much support until around 97.00. We would prefer a pullback to 1206 before going long or a break of 1220.
EUR/USD has retested and held above daily support and is now approaching a key weekly level. This ABCD fib is still in play and dollar is continuing to weaken. Our bias remains long so we will look for long entries up until this level.
AUD/NZD is looking bearish after breaking this ascending channel. Prices are back below monthly resistance and should present short opportunities.
This pair is below monthly resistance and has rejected the 61.8 fib. I am short here to weekly support at 0.96037 for 1:3 risk/reward
This chart is really interesting. USD/CAD faked out of this weekly trendline, with CAD weakening as BOC stated they are leaving the door open to near term rate cuts. This could see continued CAD weakness in the coming week and lead to prices testing the key 1.3580 level to the upside. Our overall bias is still short so we see a triple top forming at the .50...
Gold has broken down out of this channel and retested key resistance. Simple trade for 1:3 risk/reward. Dollar movement could make this interesting today due to President-elect Trump's inauguration
Apple is testing a key level... i will watch price action for bearish signals as well as watching for a break down of the ascending channel
Gold has pulled back to the .382 fib and key daily resistance (USD 1206.95/oz) where price is currently stalling. I will watch for bearish price action around this level and enter a position on a break down of the 2hr ascending channel.
AUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right...
NZD/USD is currently stalling at the .50 fib retracement level despite dollar weakness. This area is confluent with shorter term resistance. We will be watching price action on lower time frames for short entries, and also adding to the position on a break of the 1hr counter trendline. There is some data/key speakers that could give this a push, with Fed Chair...
AUD/USD is currently indecisive with prices having broken out of this descending trendline but capped at the .618 fib. There are two inside bars, one spinning top and one doji. This indecision/confusion comes from traders seeing a triple bottom form and then prices breaking out of this trendline, while this pair has been bearish for some time and prices are being...
I just entered this short after prices broke this counter trendline after prices rejected the .50 fib. Lets see how it plays out
NZD/JPY is looking bearish in our opinion, prices reversed aggressively from monthly resistance, has retraced and is unable to close above the .382 fib level. We still have a short bias in this pair and Yen weakness is beginning to creep in which supports my idea. We will short on the close of the daily candle, and looks like an evening star could form here. Our...