theforexarmy

theforexarmy

just now USOIL is approaching our first support at 54.96 (horizontal overlap support, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 56.71 (61.8% Fibonacci retracement , horizontal overlap resistance). Stochastic (89,5,3) is approaching support and we might...

theforexarmy

USOIL is approaching our first resistance at 55.18 (horizontal overlap resistance, 38.2% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 48.34 (61.8% Fibonacci retracement , 61.8% Fibonacci extension, horizontal pullback support) Stochastic (89,5,3) is also approaching...

theforexarmy

Sell below 1.2891. Stop loss 1.2955. Take profit at 1.2791. Reason for the trading strategy (technically): USDCAD is approaching its resistance at 1.2891(61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2791 (horizontal swing low support). Stochastic (55, 5,...

theforexarmy

Buy above 74.13. Stop loss at 73.76. Take profit at 74.98. Reason for the trading strategy (technically): NZDJPY is approaching its support at 74.13 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 74.98 (61.8% Fibonacci retracement, horizontal pullback resistance)....

theforexarmy

Sell below 1.6168. Stop loss at 1.6219. Take profit at 1.6092. Reason for the trading strategy (technically): EURAUD reversed off its resistance at 1.6168(100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 1.6092(50% Fibonacci retracement, horizontal pullback...

theforexarmy

Buy above 0.6545. Stop loss at 0.6501. Take profit at 0.6603. Reason for the trading strategy (technically): NZDUSD is approaching its support at 0.6545(100% & 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6603 (38.2% Fibonacci retracement, horizontal swing high...

theforexarmy

Buy above 147.06. Stop loss at 146.09. Take profit at 148.28. Reason for the trading strategy (technically): GBPJPY is approaching its support at 147.06 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 148.28 (61.8% Fibonacci retracement, horizontal pullback resistance)....

theforexarmy

Buy above 115.29. Stop loss at 114.71. Take profit at 116.28. Reason for the trading strategy (technically): CHFJPY is approaching its support at 115.29 (100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 116.28 (38.2% Fibonacci retracement, horizontal swing high...

theforexarmy

The EURUSD is well into its last leg lower, within the expanded flat wave structure a-b-c labelled on the chart here. The currency pair could have either formed a meaningful low yesterday at 1.1563 levels or it is very close to terminating wave c at 1.1500/50 levels. We have highlighted a potential buy zone for EURUSD in a rectangle on the hourly chart. Please...

theforexarmy

The US Dollar Index has been testing resistance zone between 95.40 and 96.00 levels respectively. Looking at the wave counts (lower degree), it is quite possible that the last wave of expanded flat might have terminated at 95.30/40 levels yesterday. If this holds true, we could see a sharp decline from current price action. As an alternate count, the expanded flat...

theforexarmy

We have been discussing a potential bullish reversal from around $1180 levels since long now. The yellow metal made a low at $1180.50 levels, last Friday, before reversing sharply through $1192.00 levels. This story could well be an indication of a meaningful bottom having formed at $1180.50 levels and that bulls might be poised to print higher highs and higher...

theforexarmy

AUDUSD has been drifting sideways, specifically 3 waves since lows were formed at 0.7200 levels earlier. A probable wave count from here could be drop towards 0.7175 levels before bulls could resume higher again. Also note that fibonacci 0.618 support of the previous rally is seen at 0.7175 levels and hence we can expect meaningful support in that region. Nothing...

theforexarmy

Buy above 1.1518. Stop loss at 1.1416. Take profit at 1.1661. Reason for the trading strategy (technically): EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance)....

theforexarmy

Sell below 0.7715. Stop loss 0.7772. Take profit at 0.7629. Reason for the trading strategy (technically): CADCHF is approaching its resistance at 0.7715 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 0.7629(23.6% Fibonacci retracement, horizontal overlap support)....

theforexarmy

Sell below 0.9808. Stop loss at 0.9867. Take profit at 0.9751. Reason for the trading strategy (technically): USDCHF is testing its resistance at 0.9808 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9751 (23.6 % Fibonacci retracement, horizontal swing low support) is expected....

theforexarmy

Sell below 0.7708. Stop loss 0.7777. Take profit at 0.7524. Reason for the trading strategy (technically): CADCHF is approaching its resistance at 0.7708 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 0.7524 (50% Fibonacci retracement, horizontal overlap support)....

theforexarmy

GBPAUD bounced nicely off its support at 1.8011 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.8099 (38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (55, 5, 3) is bounced off its support at 4.9% where a corresponding rise could occur.

theforexarmy

Buy above 1.1619. Stop loss at 1.1590. Take profit at 1.1690. Reason for the trading strategy (technically): EURUSD is approaching its support at 1.1619 (61.8% & 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.1690 (61.8% Fibonacci retracement, horizontal swing high...