PureTradingFX

PureTradingFX Updated 

Good morning everyone, DYX has been pulling back, sending both EUR/USD and GBP/USD to multi week highs. Under this backdrop, the trendline that's been holding since February 4th 2022 is on the cards over the next days. Let the price consolidate around the levels it is right now and if some corrective pattern (bear flag, parallel channel) develops between @108,5...

PureTradingFX Updated 

Good morning everyone, Watch short term downside after reversal pattern started developing and fundamental backdrop is supportive of potential yen strength from - Bank of Japan just released a note saying the weakening of the yen as a result of its yield curve control policy is not desired . This could mean the target for rates could be lifted, thus lifting the...

PureTradingFX Updated 

Good afternoon everyone, Watch for short term sell setup (bearish flag) that could prove completed if the price breaks the small corrective structure (black trend line). The target is a rather strong support level @3970, which could yield @2% profit. Nonetheless, trade with care as this is a short term setup and, despite the negative news flow for risk assets...

PureTradingFX Updated 

Good afternoon everyone, Look to sell Bitcoin as the price broke the trendline and is now consolidating below it. The move could happen quickly and resonates with the sentiment deterioration on other risk assets after the recent rebound. The first target is @19k whereas the whole move could retest june lows at @18k. Wish you all the best...

PureTradingFX Updated 

Good afternoon everyone, Watch for oil bullish formation developing. Wait for small flags after the break of $95 area. Potential for prices to test de psychological level of resistance at @$100. Then, I am revisiting the pattern though a strong breakout and retest should lead prices to test the upper bound of the corrective (blue) channel. Wish you all the...

PureTradingFX Updated 

Good morning everyone, Watch for this short term sell setup in the EUR/USD. Try to get an entry from top of corrective structure (already developing) or wait for bearish flag to sell for the retest of 1,034 low. Wish you all the best trades, PTFX Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely...

PureTradingFX Updated 

Good morning everyone, Watch for short-term leg up in the S&P500. It's been consolidating after the sharp move up of the past week and looks like it reached the bottom of penant (or flag) , which traditionally is a sign of at one more upswing. Trade with tight stops as we approach the upper bound of the paralell channel as it's now unclear whether it's breaking...

PureTradingFX Updated 

Good morning everyone, USOIL has been consolidating downwards but the sharpness of the move up is way higher than that of the movement since yesterday morning. Therefore, watch for retest of the top @119. Be careful as the market has gone very far very fast and this is a short-term trade. Keep your stops tight at around 115,5. Wish you all the best...

PureTradingFX Updated 

Good morning everyone, USOIL is poised for another leg higher in order to complete the corrective strcuture that's been developing ever since the last down impulse. Thus, watch for long setup that's forming, either by buying at the low of the flag (riskier) or when it breaks out (safer). Anyway, the first target is the break of 114,8 level when we would start...

PureTradingFX Updated 

Good morning everyone, EUR/USD is poised for short term bounce to complete pattern. I am looking at long position around 1,065. Take profit (TP) level is just under 1,07. Let's see how it develops. Wish you all the best trades, PTFX Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by...

PureTradingFX

Good morning everyone, USD/CAD may be posied to a short-term down move. It has recently touched the 38,2% Fib retracement of the last impulse down as it corrects the abrupt down move. Therefore, a complex correction has started to develop and I would be looking to sell it. First level to watch on the downside is 1.267 though i would not be surprised if it gets...

PureTradingFX Updated 

Good morning everyone, EUR/USD downtrend may be headed towards a small, short-term relief. Daily RSI close to oversold with the price reaching the first support level after breaking down. As this is a typical counter trend trade, it can happen fast to move up to the of around 1,14 and reverse course right after, so make sure to keep tight stops on this one....

PureTradingFX

Good morning everyone, EURGBP seems to be consolidating in a very bullish pattern , the traditional bull flag on the 4H chart. In my opinion, a small trade can be taken IF price breaks above the flag . Once broken the flag, price should move faster, and therefore the best way to catch this trade is through an entry order . Wish you all the best trades,...

PureTradingFX

Good morning everyone, AUDUSD pair looks like it's giving one more opportunity for a short-term buy. Several corrections for further buys since the march lows are depicted in the chart , although one should start looking at buys more carefully - either using trailing stops or simply put every upside breakout to break even right away. After what I believe could...

PureTradingFX Updated 

Hi guys, EURNZD seems to be breaking out a flat correction. I am expecting at least the completion of the measured move to the level represented by the blue line. Wait for confirmation (correction below the channel to enter the trade if you are not in already). Wish you all nice trades, PTFX Disclaimer This post does not provide financial advice. It...