About meCharts/Ideas/Descriptions posted are my own and are in no way financial or trading advice. I accept no liability for any losses you may incur as a result of you relying on anything I post to be accurate.
Brexit talks are weighing heavily on this pair with the rise attributed to speculation that the UK may invoke Article 50 sooner than expected. This increases the risk either way on this pair as you just dont know how the market is going to react.
However im still inclined to look for selling opps.
while its a bad idea to fight the up trend i also dont want to be...
This is more of a indicator chart for me,
one of my fave set ups retrace of a strong trend move in to the 61% fib and then rejection
I have a bearish bias on comm backed currencies anyway so this helps me choose a short between NZDUSD which has been quite bullish anyway and AUDUSD which looks ready to fall.
Looking at this chart I am seeing more AUD weakness...
Not an ideal set up for me but something that could play out if we see weak commodity currencies and a strong dollar.
wouldnt want to enter until a break and retest of the channel as the pair has been in a steady uptrend.
The rejection at the 50% weekly fib retracement does provide some stronger motive for shorting however i need more confluence.
If the channel...
Posted this on a weekly a while back, price has been held quite tightly and never really moved off the level,
with my gold bias being short and dollar bias being long im inclined to look at selling this pair down to S1 0.71647
Gold weakness and dollar bullishness will weigh heavily on this pair if im right and the bullish rejection on thursday followed by a strong...
bullish bias on the dollar,
cot data support strong dollar and weaker gold and oil
technical pattern showing XAU may be offered at 1345
would be looking for entry at 1345 or on a retest of a confirmed break in the bullish market structure
As long as the downtrend continues im looking to sell rallies down to support around $40
bullish dollar bias supports this idea as well as the high volume consolidation we are currently trading in
COT data showing net oil position decreases and net dollar position increases too
gold net positions also down
Still bullish off previous analysis. bullish bias holding until a break and hold below 95.08
if price can finally make new highs above this then we will be reaching for the july highs which are untested.
trend is your friend, there is a massive bearish divergence on the weekly/monthly chart but the current bullish trend on daily and h4 is very...
This looks very obvious technically to me
Key support and very low volume confluence
several failed tests of the area on the H1 chart
key psychological level 1300 in range and i believe we will need a significant catalyst to reach this level so shorts are not so favourable IMO
Good volume targets at the 50% and then at the descending trendline resistance if...
While I want to be buying YEN this pair is very over exposed to the downside.
Very little volume of orders below the 76.2 support so a bounce here up to the resistance is my anticipated play on this. in keeping with the long established down trend i will look for sells off of a rejection of the resistance.
below the range support would be my second short target...
Despite a strong dollar rally usdjpy is still held beneath the two descending trendlines.
best not to fight the trend and instead look for shorts.
looking to take the short off the 50% retracement down to the sub 100
Resistance rejection at low volume and further selling pressure.
Right shoulder formation at low volume support.
expecting a break of support and then selling down to high volume node after a retest
set up would only be valid if the retest fails and support becomes resistance
triple top, key resistance, high volume target at the 50% fib following the strong rally and break of channel.
pullback to 50% would be a nice return to volume area following an anticipated sustained rejection at resistance currently.
The reason for the usd rally last week despite poor data was the rally in tens.
looking at the technicals I see channel resistance confluenced with a strong resistance level and double top.
pin bar rejection at this level suggests sellers entering
I see alot of people talking about gold longs due to its safe haven status however I do not think we see real safe haven flows into Gold as we do with CHF/JPY etc
I am more inclined to look for shorts with my bullish dollar bias.
Additionally, previous week pin bar rejection in a consolidation zone signals shorts entering the market
we still haven't had a...
Interesting outlook on the weekly JPY225 with USDJPY overlayed.
Price has diverged from USDJPY and is not falling off in parity. It is also not following last weeks SPX major sell off.
ALl this could be highlighting week Yen and strong dollar which would boost the japanese industry which is based off exports. With this in mind I am watching this chart...
Initially i am looking to buy a bounce off the 50% up to Right shoulder resistance and possibly 147 if we get a break above prior Resistance. this would squeeze alot of the weak shorts out
another possible scenario is that GBPJPY retraces to the shoulder level and rejects off the low volume node around sub 130
if my initial long gets stopped i will be watching...
I may or may not take the trade as I do not really have a good bias on the YEN yet.
what i do have is a bullish view on the dollar as well as last week's rejection off the key support on the weekly usdjpy chart.
if we are expecting bullishness a nice entry could be found at 61% retracement of the current swing confluenced with a breaker candle