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GBP/USD broken through the 1.5220 resistance to the upside. Wait for the momentum to build in to look for 1:1.5 or 1:2 risk to reward.
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With more event risk still to come, a downside break below 1.53, will keep the short bias in play targeting 1.5180
- At Pivot, price consolidated and recover. Go Long at this level. SL at 183.35. TP at R2
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- At Pivot, price weakening. Short at this level. SL at 1.5480. TP at S2
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Selling EUR/USD, as the pair has been on a clear downtrend this entire morning, RSI currently stands well below its midlines on all timeframes, and EMA’s crossover remains favorable to the downside.
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EUR/GBP came into support area and is forming some form of a double bottom with a false downside breakout of the latest previous low. I recommend a Buy trade with a stop below the latest low and a target of approximately 1 : 3 Risk : Reward Ratio.
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Selling EUR/USD, as fundamental news regarding the US ISM Manufacturing PMI slightly surpassing expectations at 50.1. Shorting the pair as RSI hovers below its midlines, and in the short term EMA’s are favoring the downside. Nevertheless, EUR/USD is trading range bound between 1.1000/1.1050 today.
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the pair has develop an short term downtrend and made a pullback and small bearish candle was printed which gave a clear trigger for entering an short position for the continuation of the trend. With the initial good news from USA, the GBP hold better than EUR, which gave an extra edge for shorting this pair.
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EURUSD has broken through the support trend-line at 1.102500. Wait for the market to retrace back to 1.10253 levels to sell for 1:2 risk to reward.
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USDCAD in consolidation mode after rising above 1.3250 level. An hourly close under 1.3225 expose support at 1.319. Alternatively, a reversal above 1.3280 clears the way for a test of 1.3350
USDJPY continues trading in range. Price is retesting resistance at the 120.20-30 area. In the event that values of resistance hold,
it raises the possibility of prices returning to values of support. Alternatively a breakout above 120.3 would signal an end to current range market.
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EUR/GBP is currently in an uptrend on M30 but also in a larger range between 0.7195 and 0.7358 area, nearing a probable strong resistance level. I recommend shorting it near resistance, with a 1 : 3 Risk : Reward Target.
EUR/JPY is in an uptrend, but forming a possible reversal pattern, price is falling below its 12 EMA with MACD confirming the decline, so I see a likely change in the direction of the price to the downside.
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AUDUSD chart setup warns of pullback risk. However, the potential for a sustained correction may be limited. Sellers interest would likely be renewed on a test of the resistance at 0.7298.
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EUR/USD seems to be establishing a range. There is a double top pattern present, therefore I recommend selling with a stop above the range and a TP target at the bottom of the range, for about a 1:2 R:R trade.
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After droping until resistance level 132.290 eurjpy has formulated a corridor betwee 132.29 and 132.8. It is a good chance to trade inside that corridor. To buy near support level with sl 132.200 and sell at resistance level with sl 132.900.
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Short positions below 1.142 with targets @ 1.1345 & 1.1305 in extension. As long as the resistance at 1.142 is not surpassed, the risk of the break below 1.1345 remains high
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Long positions above 1.538 with targets @ 1.553 & 1.5565 in extension.
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Despite the trend being down, we see that there is a cluster of Fibonacci confluence levels. At the same time we are at previous support. There seems to be some buying Price action here on lower tome frames, so if EURUSD can stay above S1, I suspect it will be able to reach R1 or R2.
At Pivot, price weakening. Short at this level. SL at 185.30. TP at S2
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price formed a double bottom and a new high; we can buy if it retraces into previous resistance (which is also at the .618 fib) which might become support for a move to the upside.
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USDJPY continues trading in range. Price is retesting support at the 120.54. In the event that values of support hold, it raises the possibility of prices returning to values of resistance. Alternatively a breakdown below 120.40 would target 120.
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EUR/AUD Pair, as fundamental news regarding USD Gross Domestic Product for Q2 beat expectations at 3.9%, this could have certain impact as well on the pair, as the good news on the USD could trigger selling positions on the EUR/USD pair. Also we can see that MACD just made a move to the downside as well as EMA5 crossover below EMA10.
Short positions below 1.1395 with targets @ 1.1305 & 1.1265 in extension. The pair is capped by a declining trend line.
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Downward momentum is confirmed in USDJPY on a Weekly and Daily time frame. Consolidation range overnight is broken out to the downside on the London open. Sell on the breakout at 120.147. SL 120.30. Targets are 119.93 and 119.663.
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AUD/USD is in a resistance area on Daily and H4 charts, and, as we can see from a picture, is forming a potential double top reversal pattern on M30 timeframe. This gives us a potential 1:3 or more R:R short trade, with possible entry points at the downturn of the price a little below the current level, or at the break of a neckline at S1.
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Short the run into the previous support zone which might act as potential resistance; the entry case is also enhanced by the 618 fib extension of the initial upward move.
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High-base setup forming. Waiting for pullback for entry.
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EUR USD price is at the 127% extension of the last major low, which is in the same area as strong resistance and price is stalling. Looking for short trade.
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A possible long position can be taken off the 38.2 fib level along the upward trend line at around 113.2. Stop loss to be place under S1.
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Short positions below 1.538 with targets @ 1.5305 & 1.529 in extension (as long as 1.538 is resistance, expect a return to 1.5305).
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As we can see from a chart, EUR/AUD is forming a reversal falling wedge price pattern, which implies that if a price breaks to the upside, it is likely to rise to at least a distance of a width of the pattern at its base. That gives us an interesting buy with about a 1:4 R:R or even more (another possible target is R2 level, with TP just below the top of that level, at around 1.4750).
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If the price closes below the 119.75 then we wait for pullback, and if it occurs we short the market.
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- At Pivot, price weakening. Short at this level. SL at 120.35. TP at S2
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Structure has been broken to the downside. Sell the .618 retracement if it occurs.
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Bullish cypher pattern with completion at support level.
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We can see that after the market broke the downtrend line, there was some buying pressure. We had 2 pieces PIM readings that made the whipsaw movement. After that I went long as I saw that the 38.2% level assuming that the 50% would hold. In hindsight I think it was best to wait until the 50% level.