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Aud Usd 4hr price is making lower lows and lower highs. Price is retracing to the 50% Fib on the 4hr and we are looking to go short at the 79% on the 1hr. Gold is also paused at a key resistance level of 1094.15 ready for possible reversal supporting the move of the Usd.
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The fx pair par on Daily TF just forming its second downswing. And its gives two possibility to move forward. A) it is in the end of the ongoing move and just a really small is missing before the up move, B) it formed a bigger continuation and the market will head down strongly. Version A) is much more likely. H8 TF also shows the possibility that minimum one downswing has to be formed for the end. The expected minimum TP also comes from this TF and it is 1.0835 and a few pip under. On H2 it is difficult to give exact movements but we can expect big up and down swing and also news are today. Opening a position: in every M15 pullback end to the given directions. Every time it is important to take care for the contexts.
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- At Pivot, price consolidated and recover. Go Long at this level. SL at 1.5380. TP at R2
- Or, at S2, price broke through strongly. Short at this level. SL at 1.5405. TP at S3
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Although in the long run the FX pair EURUSD is in a downtrend, the last movements at 4H chart do not indicated a strong will in continue going down. Thus a riskier long position can be initiated at 1.10295 with a big target at 4h chart 200 EMA.
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The GBP turned higher against US Dollar after finding support at 1.51. As long as price is contained by channel support, upside remains possible. But a convincing closing 1H bar below 1.5150 is needed to trigger another leg lower in the cable.
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AUD/USD is forming a potential Head & Shoulders reversal pattern. If a neckline gets broken, a short position should be implemented, with a target at the distance from the neckline to the top of the head, transferred to the downside, which gives us a potential 1 : 3 RR trade.
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USD/JPY is currently in a downtrend on M15 and forming a Symmetrical Triangle pattern. The price is likely to continue falling, but for this trade, I recommend waiting for the breakout outside a triangle and trading in the direction of a breakout, either with a limit order (recommended), or a market one.
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At Pivot, price consolidated and recover. Go Long at this level. SL at 1.0965. TP at R2
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After breaking below the MA in a sideways downward trend we await a pull back around the 50% fib entering at round number 121.00 SL 15 pips highers and keeping R:R 1:3 Placing TP 120.55.
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The US Dollar may be readying to turn higher against the Yen. A break above resistance at 120.30, exposes the level at 121.30.
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The fx pair is in the end of a downtrend and the decelerating phase is in progress. This means Short position can be taken in every pullback end. From longer distance the TP will be around S3. But careful, the market will reach this price in many small swings. And it won’t form in every swing new low.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
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EUR/USD is in a downtrend. MACD is at the record new lows and strong, starting to turn down again from above it’s centerline.Price has stalled and retraced a little, but is likely to resume falling and at least re-test it’s latest low, possibly even exceed it. It makes a good short trade with 1 : 1 or more Risk : Reward ratio.
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The fx pair is moving downward. In this movement the first bigger correction already happened at the early morning. This give us the idea that is more chance that the movement will end soon. But before this in smaller timeframes can be catch another SHORT with the TP of S1. At S1 attention will be needed. The market can turn up for a bigger correction right away. Or maybe a climax happen and the movement will continue until S2 and again just like from S1 it bounces back to form a much bigger correction to target R1 level.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
Selling EUR/USD, as the pair has reached today´s low at 1.1369 after unexpected good readings from the US Consumer Price Index came out beating expectation at 0.2%. RSI and stochastic have reached oversold levels across M15, M30 and H1, and a limited correction to the upside may occur soon.
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After the preceding uptrend, AUD/USD stopped and is possibly forming a double top (or at this point a head and shoulders) reversal pattern. If it gets completed, shorting it is recommended for at least a 1 : 2 R : R trade.
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The fx pair after the Friday spike it reached the H4 channel top. Since that the price is consolidating. And it just fall down to the S1 support level and formed a continuation. Now we have to see what the market will do. Will it bounce back or S1 won’t hold and the market continues downward. Actually it has got more percentage. So if S1 falls take SHORT position with the TP of S2. But if S1 holds think in LONG position with the TP of R1.
Opening a position: in every M5 pullback end to the given directions. Every time it is important to take care for the contexts.
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This look on paper a great set up to the short side. I have the following thoughts to add:
- 1. GBP is just the expert currency for false breakouts and breakdowns.
- 2 if this trader triggers to USD/CAD is going to around 1.3000
- 4. Cable will trading at 1.4500
- 4. The GBP/JPY will be trading around 170.00
There are huge implplications surrounding this set-up
I do not think that unless the GBP/CAD significantly breaks tower and closes the first day below 2.0000, that i would take this trade for the reasons
mentioned above.
There are 1.000 pips on offer to miss 100 is neither here or there in my opinion.
Keep this on your RADAR..i will not do anything until after NFP no matter what may happen between now and the data dump.
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USDJPY is trading in a channel for the last couple of weeks. Wait till the price to close above the resistance of 120.30 to buy for a 1:1.5,2 risk to reward.
EUR/AUD is on overbought territory on M15, M30 and H4 charts, price action goes outside the upper Bollinger band on H4. As we can see on the charts RSI and stochastic indicators are already exhausted to the upside, so a reversal can occur anytime soon.
USDJPY is selling on it’s day chart. On M30 the 3-rd wave may have its place, for the intraday of 18.01.2015 we can sell at price 117.9 with tp 16.8 and sl 118.3
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The pair is currently in a falling wedge, which is usually a pattern that breaks on the upside. Should it happen, we could open a long position if a candlestick closes above the falling resistance. Place a stop loss under it in case of a false breakout.
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Though the pair has been trading in an uptrend recently, it failed two times to take out its recent high @ 1.52467. The falling 200h-SMA (in green) may add some downward pressure to the pair. Moreover, we can see a bearish divergence on the MACD. Be careful, the pair is still in an uptrend as long as the diagonal support hasn’t been broken. Yet given the factors mentioned above, the scenario of a minor selloff which would offer a good reward/risk ratio may be considered.
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- The daily chart is in a broader flat range following a downtrend. RSI is overbought. Most recently it has been trading a short term upward trend channel. Price has approached upper channel resistance, as well as trend resistance from the Q2 15 highs. Looking to get short at this confluence of resistance.
- 4H is trading in an upward trend channel. RSI has come out of overbought and the MACD is about to trigger a sell. Sell @ 0.7240 resistance (10 pip stop) or on a break of support @ 0.7155.
- 1H trading in a range. Sell on a break of 0.7155 support.
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The pair is in an uptrend move, and as shown in the 1Hour Chart on the left, is touching on a Valid (3-Touches) trend line. Since the price retraced to 50% Fibonacci level and touched on the trend line, I expect the price to ascend and continue the upwards move above the 0.73 level. Entry point is 0.7295 and stop loss is below the 0.7280 support level.
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completed bearish Bat and Cypher pattern at Major resistance area. SL goes above the psychological level 122.00
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At Pivot, price consolidated and recover. Go Long at this level. SL at 185.30. TP at R2
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- At Pivot, price consolidated and recover. Go Long at this level. SL at 1.5385. TP at R2
- Or, at S2, price broke through strongly. Short at this level. SL at 1.5415. TP at S3
#gbpusd #forex #fxtrading #investing #traders #fxtraders #trading #fx
The pair broke its upper trend channel to the downside. A pullback to the 100-hour SMA (in orange) may be a good opportunity to go short on the usdjpy. A stop loss will be put a few pips above the 100-hour SMA, in case of a false downside breakout.
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AUDUSD has attempted to breakout this morning. The next upside level of interest would be at 0.7315. Failure to maintain 0.7315 would negate bullish considerations. We are at risk for a turn lower with a break of 0.7260.
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