USDJPY is trading sideways since August 12 after finding support initially at 105.000. This week it dipped marginally lower and tested the 104.550 1M Support. These levels have provided Support already twice within a 1.5 year span. The current neutral trade and consolidation on 1D (RSI = 47.471, Highs/Lows = 0.0000) is most likely the pricing of the new Support...
Our Trend Smart Algorithm predicted a short term analysis for GBPUSD to go Long.
FX:EURUSD long may be attempted. After failed support breakdown in late July, there were two relatively strong rallies in EUR, followed by relatively sluggish corrective moves down on MACD divergence. Possibility that we would see another rally somewhere from current levels is quite high. And trade with stop at around 1.105 and target at around 1.125-1.13 may be...
The weekly timeframe outlines a bigger bearish flag pattern with already prior 3 touch confirmations followed by lower lows towards the bottom of the flag. Considering the approach towards the bottom of the channel we see a lower time frame (4hr) flag pattern which we can evaluate from the analysis I have posted above. Trade active after the third touch...
After witnessing a break through on the daily/weekly bullish flag pattern we only seek to look for buy opportunities. The break out of the bigger picture time frame was followed by a lower time frame retracement in the form of a bullish flag pattern. Entry taken upon the third touch confirmation within the bullish flag pattern followed by a 4hr bullish engulfing...
AUDNZD has a great chance to pop up much higher after confirmation of this 3 simple steps that the market is showing us right now. 1) Breakout of the Daily Channel 2) Bullish Candlestick formation 3) Strong Volume Bar (indicates more buying interest) with that said the market is communicating with us telling us that he is getting ready to break up higher,...
The pair failed to breakout from a key resistance line, which will send the pair lower towards a major support line. Unpredictability was seen to be playing its game on the EU-Mercosur trade negotiations. The 20 years negotiation between the European Union and Brazil had finally come into an end after the two (2) economies agreed to draft deal which will open the...
The pair was not able to sustain its strength after it failed to break out from key resistance line, which will send the pair lower towards a major support line. The Royal Bank of New Zealand (RBNZ) cut its benchmark interest rate in response to the escalating trade war between the United States and China. This will cause an advantage for New Zealand exports...
USD/TRY The pair was seen trading at the tip of the “Falling Wedge” pattern and was expected to continue going down in the following days. The 2016 failed Turkish coup attempt started the end of the relationship between the United States and Turkey. The coup was led by U.S.-based preacher Fethullah Gulen within the Turkish military. Three (3) years after the...
SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4- 9 Days Actions on - A – Activating Event Market will meet resistance in zone @ Current Levels - .... and fall to the 0.88 . In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @...
Who will win this power struggle as this pair arrives at previous low. Looking from the weekly chart view point this may be an area of strong support. The weekly has pulled back and the daily seems to be in a range. We are looking for price to close above 1.21560 before we decide to enter for a buy. As always, price could continue on a downward move and create new...
SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 4-12 Hours Actions on - A – Activating Event Market will meet resistance in zone @ 79.5 - .... and fall to the 79.15. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @...
My Odin's eye seems to see the potential for a scalp trade tonight around 27 pips. 1st take profit zone is around 0.6712 Odds enhancer: The US dollar looks like it can potentially move up to around 97.62 We could also see price jump up to a supply zone around 0.67717. If price retraces to this zone, then it would be a good shorting opportunity. AXE YOUR...
EURUSD was down to 1.1190 area which is not too surprising after the nomination of Mrs. Lagarde to be the head of ECB. I think she wouldn't get the majority supports of investors. As for our analysis, yes, it broke 1.1250 but it could be foretell based on our trend lines. Now, the price has move out of the down trend (Yellow trend) and moving upward in the upper...
On the Weekly chart here we see an ascending channel where price movement has not quite yet touched the support line. On the 1HR chart, we see another ascending channel which seems to have been broken through to push price lower. This is where I originally had though of placing my buy order in hopes of catching the movement back up to the 1.97400's. But now...
As you can see from the , there is a breakout of the ascending channel on the 4HR chart. We can watch this pair closely to enter the market on the pullback, which does not seem likely to touch the trend line.
GBP/USD, Daily chart: Support zone + Side of Bollinger bands (20,2) + Triple divergence on RSI(14)
EUR/AUD, Monthly chart: 4 years long resistance zone + "Shooting Star"/Pin bar candle pattern + Side of Bollinger bands (48,2: 12 months*4 years) + Extended divergence on RSI(14)