BEARISH USDJPY Daily: Sell Channel top and SR Zone (Analysis Based on daily chart) Observations 1. Long term up channel 2. Short term down channel 3. Daily swing high 4. Weekly support/resistance zone NOTE: Wait for price action to confirm the importance of these levels.
BULLISH EURUSD DAILY: Bullish Gartley pattern completed (Analysis Based on Daily charts) Criteria 1. Up trend on the Daily chart 2. Price at daily Support level 3. RSI hidden divergence 4. Gartley pattern terminating slightly below channel lows NOTE: Wait for price action to confirm the importance of these levels. NOTE: I currently have a BEARISH outlook on the...
EURJPY: The cross was seen returning to upside towards its broken support turned resistance level at the 133.14/43 zone during early Friday trading today. This is coming on the back of its price rejection on Thursday triggered from the 131.58 level. With that reversal putting EURJPY above the 132.22 level, another key support, a build up on that recovery is...
BULLISH EURUSD: Price at daily channel lows (Analysis Based on Daily charts) Criteria 1. Up trend on the Daily chart 2. Price at daily channel lows 3. Price at daily Support/Resistance level 4. RSI was oversold at channel low 5. Gartley pattern terminating slightly below channel lows This makes my proposal yesterday to sell between 1.110xx and 1.113xx a counter...
USDJPY: USDJPY lost its downside momentum to close higher on a long-tailed candle on Thursday. This development leaves risk higher with a possible run at the 119.50 level. Above here will clear the way for more strength build up towards the 120.00 level with a break targeting the 120.50 level. Strategy: Buy at 118.83, Stop loss at 118.17, Price target at 119.79 & 119.99
Doji followed by a bearish engulfing on the S/R zone, a potential shorting opportunity, although not on the extreme of the trendline
I suspect we are coming lower on this pair. We have a head and shoulders pattern and a nice 61.8% fib pull back. Currently sitting on weekly support which I expect to be broken. Watching price action for a nice entry. 1.50200 downside target
Trendline was tested and downward wicks have shown a potential move down. I can see two trades: Sell at around 0.972 with a stop loss of around 0.9815 (could be higher around 0.9845), Target the first support line at around 0.96 Same entry but with a target of 1.618 fib extension
The GBPCAD has clearly been up trending since April 2015, could it be time for price to change direction? There is a clear head & shoulders pattern on the daily chart. On the 8th April, price formed a bearish pin bar. There are possible support areas as price moves South, these are marked on the chart.
GBP/USD - Daily Setup / / Price Action / / Chart setup My Technical analysis / Ideas and Tips. **Simple Trading** ***Look at the bigger picture*** +Support and Resistance + Trading patterns +Moving averages +Trend lines +Fibonacci Retracement (Make sure you do your own Technical analysis) (Check for strong impact news before you start trading)
All star entry with BB dev 20 on STF (1H) when price pierces the top BB, into a SZ, sell, T1 will be 20 period MA, T2 opposing DZ when price pierces the bottom BB into a DZ, buy, T1 is 20 MA, T2 opposing SZ
EURGBP continues to maintain its corrective recovery tone despite price hesitation during Thursday's trading session. See trade ideas below: Strategy: Buy at 0.7124, Stop loss at 0.7067, Price targets 0.7194 & 0.7223
Major Resistance at 92.13. Currently looking for a bearish setup as a confirmation that the resistance will hold and price will move lower again. If resistance breaks, this level will likely be a bullish reversal area and act as support in the near future. Major Support at 89.52. If short, I will look to exit at this level. I will also be looking for a bullish...
USDCHF: Despite USDCHF bullish bias, risk of correction is expected as its daily chart is spotting multiple negative rejection candles.
The cross turned lower on Thursday taking back most of its Wednesday gains. This development leaves the cross targeting further downside pressure.
GBPUSD: GBP continues to look vulnerable to the downside on correction with more decline envisaged. On the downside, support lies at the 1.5550 level where a break if seen will aim at the 1.5500 level. We look to sell this pair at: Strategy: Sell at 1.5632, Stop loss at 1.5700, Price target at 1.5532 & 1.5460
GOLD: With a marginal lower close seen the past following its price rejection, a move higher could be developing. Support comes in at the 1,080.00 level where a break will aim at the 1,069.00 level. We are looking to buy at the levels below. Strategy: Buy at 1,091.50, Stop loss at 1,071.00, Price target at 1,115.00 & 1,133.00
Looking at the price action to the news on Friday there was a lot of heavy selling following some relatively flat numbers against expectations. The employment costs index was down and caused a move up but the big move at 3pm came from the consumer sentiment which 93.1 against a 94.2 expectation. This move up was halted at the 1.111-1.112 level which has acted as...