()

Hey gang, lot's of dollar strength today and after big moves we typically see some relief. Below is a link to my weekly trading video where I'll walk you through the 3 different opportunities that the EURUSD will offer us to get long.

"What The Internet Won't Tell You" https://www.youtube.com/watch?v=kUA_hZ3DaNY&feature=youtu.be

After the steep decline yesterday I was wondering why this pair stopped where it did and I found 3 reasons for it.

- A bullish Gartley pattern
- A bullish Butterfly pattern where D is the 1.618 extension of AB
- A previous gap that can act as support

Furthermore, the Fib extensions for both patterns (1.272 for Gartley and 1.618 for Butterfly align nicely)

I have been publishing multiple forecasts for the past few days, the price indeed reached my targeted resistance area at the 50-days SMA and 0.7620 before forming a bearish pin bar, which suggest a potential setback and resumption of the overall bear trend. For previous analysis check the related links below..

I already placed my limit sell order at 0.7575 level.

Thank you for reading , be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you


Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/+Thefxchannel0
My best regards
Technician

The NZD/USD has been in a significant downtrend since July of 2014 as the USD strength continues to rule the FX Market.

We have seen quite a dramatic pullback within the NZD/USD that has now set us up for an excellent selling opportunity to trade back in line with the overall downtrend.

We have 8 factors of confluence on the daily chart that support a bearish bias.

1. Trading With The Trend
2. Pinbar Sell Signal
3. Double Top Formation
4. Rejection of 50 EMA
5. Rejection of .5-.618 Fib Retracement
6. Rejection of Key Resistance at .7600 (Previous Key Support)
7. Rejection of Descending Channel Trendline
8. Bearish Wedge Continuation Pattern

We have two entry options available to use, both offering great risk-reward ratios.

I expect this market to breakdown and target the next KEY weekly support at 72 cents. Breaking below 72 cents opens up the gates for 70 cents as the next downside target.

Breaking out from a 5 wave Symmetrical Triangle(down median bias), clearing 20-50 sma, downtrend_line(s), above/at 50%. RSI at 55, clearing horizontal resistance.

2 bat patterns on EURAUD together with a current downtrend of lower highs lower lows might indicate that there is some further downside to this pair.
We might be looking at a reversal around the completion of the red bat pattern (structure present) or even a little deeper to complete the blue one ...

Are these patterns going to complete ? Nobody knows ... but I'll certainly keep an eye on it

except from grinding higher, SPX is going to find it very difficult to climb significantly higher in the next 5 weeks.

EUR/USD has broken major support 1.1260(S1) ,this confirms short term bearishness and reach till 1.1100 cannot be ruled out .

On the upside minor resistance is around 1.12600 (R1 Support turned into resistance) and aby break above could open way for another test of 1.1300/1.1346 (200 day HMA).

Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell EUR/USD around 1.1260, SL 1.1305, Target 1.100.

The last few days were very strong and came as a surprise in posture where all indices could have corrected.

The correction is still pending and could happen any time although grinding higher is very possible now that the motion is in place.

The blue trajectory is just speculation for now.

As per my previous trade with stop 10400 on close - today it worked. let's see monday.

In this chart I decided to focus on timing momentum via the use of fundamental events.
These are the pieces of information the market will be expecting before deciding in its direction.
The events in red are the ones that will create the strongest volatility when announced, non-farm payrolls and the interest rate decision by the BoE.
Smaller news mostly have an impact on retail traders who create the small momentum surges we see here, while the larger timeframe trader (institutions and large speculators) continue in the direction they had established before, which created the trend in the first place.
Small surges of supply create the peaks and troughs, but paradigm shifts will be fueled by fundamental events, observable in the chart as well.
As long as the 1.54 level holds, and if we see price move away from it, upwards, I expect cable to rally further, easily reaching 1.58 in the short term.
Let's see how this unfolds, shall we?

.

By breaking out of the purple triangle on volume, I think we have established a bullish trend that will take us back to the long-tern downtrend at least. After a weeks-long consolidation, the market has finally begun to correct from its oversold condition and decided on a direction for the next few weeks.

This should start a bull run similar to the one in May 2014 that will bring us to a target in the $340s or above. I will be looking to ride this trend until it reverses.

Weekly Timeframe: Selling interest has recently come into the market below weekly supply at 1.1678-1.1458. Assuming that the sellers can continue with this tempo, we see very little reason why price cannot retest the weekly Quasimodo support level at 1.1109.

Daily Timeframe: The daily timeframe shows that price has closed below a small daily demand area coming in at 1.1045-1.1127, which as a result, has very likely cleared the path back down towards a daily demand area seen at 1.1045-1.1127 (encapsulates the aforementioned weekly Quasimodo support level).

4hr Timeframe: The recent descent (which we can only assume was because of the positive core CPI data released yesterday) on the EUR/USD pair, as you can see, has taken out several technical barriers along the way, and is, at the time of writing, seen retesting the 1.1200 handle as resistance. In the event that the sellers can hold out below 1.1200, our primary focus for today will be looking for confirmed shorts around this level. For anyone thinking the same, please do be aware that if you decide to sell here, you’ll effectively be selling down towards a long-term weekly Quasimodo support level seen in pink at 1.1109, so careful trade management is advised.

However, if price closes above 1.1200, we’ll then shift to begin watching for price to retest this level as support. Any buys taken here, in our opinion, will need confirmation, and will (for us anyway) have a fixed take-profit target set at 1.1237, seen just below immediate 4hr supply above at 1.1262-1.1240.

Current buy/sell orders:

• Buy orders: Flat (Predicative stop-loss orders seen at: N/A).

• Sell orders: currently watching for lower timeframe price action around 1.1200 (Predicative stop-loss orders seen at: dependent on where one confirms this level).

Target: 1.0830
Risk: 1.1675

Technical Reasons:

The price succeeded to exit the sideways range by breaking its support line, and the next target is the recently recorded bottom at 1.1096.

The exponential moving averages 50 and 100 form negative pressure, and MACD offers bearish trend signals that reinforce the expected decline.


www.fxhighway.com
https://www.facebook.com/fxhighwaycom/
https://twitter.com/
https://plus.google.com/105427315961677289743/posts

Gold been tough for longs in the last 3 weeks.

The last chance is probably here.

Long 20% 1213 stop 1175 on close.