USDCAD is an interesting one.
We have a thriving Canadian Dollar (as per showing on CXY H4) which approaches resistance levels on Daily. USDCAD has been consolidating for more than a month and a half. Should we get a strong rejection and a close above the bottom of the consolidation area, I wouldn't be surprised to see price return. The DXY should gain value over...
CADJPY seems to be rejecting the top of the Parallel Channel it's been stuck in for the last weeks. Looking at shorting it upon another failed retest. 200EMA also seems to be acting as strong resistance. Looking to take profit at base level as per chart. Stop Loss used in accordance to structure.
The Dragon seems to be getting exhausted, again, facing its key area which it has struggled to break for a while now. Over the last months, GBPJPY has faced adversity and resistance. The bulls are losing control and we could see price reverse and head to the bottom of the consolidation area. Proper Selling opportunity. Trade Carefully and minimize risk exposure,...
AUDCAD Long Trade Setup for the week 09-02-2020
Looking to take a long trade at the support once confirmation of price reversal.
If price breaks this level we will see a downside of AUDCAD and I would look to short once price had cleanly broken and retested.
1:20 Risk Reward, very resilient support, confirmation would trigger our long trade, looking for potential retracement to the 61.8% fib level.
We would look to take partial profits at the 31.8% and 50% Fib Levels.
A break of this key support and failed retest would nullify this trade.
On 9th January I posted a trade idea for USDJPY Short, unfortunately I had a lot of my charts scrubbed due to advertising a free telegram chat. Looking at UJ today I can see the trade would be 185 pips in profit.
A break of this important support and a retest (to confirm resistance) would see a continuation downwards and a retest of the 145.600 area support.
I...
EURUSD Daily has just broken a very strong key area between 1.11700 and 1.11500. Following a recent close under that key area, price seems to try and enter that consolidation area between 1.11500 and 1.10000. Furthermore, recent signature of China's trade deal by Trump's administration should, in principle, strengthen the USD.
Looking at selling EURUSD at this...
Gold Daily (And H4) displays a great rejection of 61.8 Fibonacci Level. Historically, and since mid September 2019, price has never closed above that level of 1514 to 1515.
Furthermore, evolution in the Trading agreement between the United States and China, combined with the Senate rejecting the Impeachment should appreciate the Dollar, thus depreciating...
