Took an NZDUSD buy and GBPUSD sell trade, they should correlate, as GBPUSD is on my manual resistance and NZDUSD is on my psychological support. Could be a recovery trade and also, as the Asian session was bullish for GBPNZD. Now the real life events will have to be in play for this trade!
NZDUSD small retracement trade? Hit my psychological support and there is a 15min W that has formed. Asian session has been bearish. Currency strength shows NZD weak and USD strong, this usually helps it recover during the day.
USDCAD is now below my zone (psychological resistance), this correlates with USOIL, which is now forming a W on the 15min timeframe and is above the psychological Support. USDCAD is forming a M on the 15min timeframe too. No red news till this afternoon, however USDCAD follows USOIL quite well.
EURCHF has been oversold, RSI is used just to confirm that this is correct. A W is forming on the 4hour and I put a temporary support like at that level, as I can see EURCHF has respected that level a few times. EURUSD is within my zone, so still waiting for this to become bullish and USDCHF is already rising. Gold has touched my trendline, however it bounced from...
Want to see what happens to USDCHF at this zone, there is an M formation on the hour candle and Gold is currently on my resistance. So publishing to see how USDCHF moves with gold!
Historical resistance is currently at 0.6920, which is perfect as a breakout is not expected unless it touches 0.6930. It has hit my daily trendline, which will now be the third touch. USD is weak and should recover, as DXY is currently within my Psychological and manual support. Recoveries are not guaranteed, however on the hour timeframe and 15 min timeframe you...
Potential long trade from this zone, as it has hit my 4 hour trendline. Bounced nicely off the psychological support. Currency strength shows CHF strong and USD weak, however session confirmation also shows a bullish NY session. This could look to recover over the next couple of days, not guaranteed. No more news till tommorow
On my manual resistance, as it broke out of the psychological zone over the Asian market. The Asian session has been bullish over the evening and this could potentially be the first leg on the 15 min time frame, as well as 4 hr time frame for a M formation. Both AUD and USD are strong on the currency strength and Red News will come this afternoon, for AUD this...
USDJPY respected the 4 hour trendline for the third time. Though DXY is looking weak, USD may gain strength during the day. No red news and session confirmation suggests a long, as the asian market has been bearish
EURUSD could see another retest of the trend line for a potential short trade. However, this is working well across EUR cross pairs, so can be used as confirmation against another major to trade a cross pair. If trend line is broken, expect to see a rise to resistance.
USDCHF Long, been entered in this trade from 1.0002, respecting the support for a while and bounces of the trend line nicely. Could see a nice trade from this set up, and the USD is currently weak, so will pick up strength during the day. No red news for today.
USDCHF seems to be testing the support area a number of times, could be a long term target to hit the resistance. Clear from news and Red news has just passed. M formation on the 4 hour timeframe, could create a W formation on the support. Session confirmation, as it has been bearish during the London Session.
Possible retracement, as the Asian Session has been bearish. NZD currency is very weak at the moment and USD is fairly strong, so we could see NZD pick up some strength during the day.
Clear from news, M formation within the psychological and manual SR and session confirmation.
Short from the SR on EURUSD, no red news until Wednesday afternoon. M confirmation shown on the 15min timeframe. Session Confirmation for the Asian Market.