GBPJPY breaks up above 175.00 ( the green zone) on 17th Sept. If GBPJPY pulls back to re-test this support/resistance zone 175.00, look to enter a long position. This is also the 50% FIB retracement. Long GBPJPY 175.00-10 SL 174.50 TP1 177.00 TP2 180.00 ===== www.ForexPositive.com Twitter @ForexPositive
Gold nearing the 88.6% FIB retracement level. There is strong support at 1180. Long GOLD 1200-05 SL 1170 TP1 1240 TP2 1280 ===== www.ForexPositive.com Twitter @ForexPositive =====
This is the 400pips inverted head and shoulders pattern on the daily chart. The neckline support is around 0.9070-80. Look to enter long at neckline and 50% FIB retracement. Long AUDUSD 0.9070-80 SL 0.9000 TP 0.9200 ===== www.ForexPositive.com Twitter @ForexPositive =====
After September ECB meeting, EURUSD drop about -250pips in 1 day. I think this is the last major capitulation selloff. EURUSD is way oversold, and a bounce up is imminent. Looking to enter long for a bounce up from the 88.6% FIB retracement. Profit target levels are the 2 resistance zones 1.3100 and 1.3300. Long EURUSD 1.2890-1.2900 SL 1.2850 TP1 1.3100 TP2...
Clearly defined support/resistance zone in EURJPY around 136.00 level. 136.00 has held as either support or resistance since May 2014. There is also another interesting chart pattern developing. And it is the inverted head & shoulders formation. Right now, EURJPY is trying to form the right shoulder. Sometimes, right shoulders take a long time to form. Because...
AUDJPY has tested 96.00-50 zone since April 2014, for more than 4 months. It has finally broken above this resistance zone. Any pullback to 96.00-50 should hold as support zone and became a buy zone. I am looking to buy near the lower end of the support zone, which is the 38.2% FIB retracement, of 95.90-96.00 Long AUDJPY 95.90-96.00 SL 95.50 TP...
Looking to enter long if AUDNZD retraces to the breakout zone of 1.1030-50. This is also the 50% FIB retracement level. Long AUDNZD 1.1040-50 SL 60pips TP 1.1200 ===== www.ForexPositive.com Twitter @ForexPositive =====
Very clearly defined support/resistance zone in GBPJPY from 172.40-70. This zone has been in play since April 2014. Look to enter short on re-test of this zone. Short GBPJPY 172.50-60 SL above 173.00 TP1 171.00 TP2 169.50
GBPCAD consolidating within 1.7960-1.8660 since Feb 2014. It has bounce up from almost all FIB retracement levels, 38.2% 50% 61.8% 70.7% 78.6%. The only remaining FIB level not tested yet is the 88.6%. Based on the evidence of price action, i think GBPCAD should bounce up from 88.6%. Enter long around 1.8040, the 88.6% FIB retracement level. Long GBPCAD...
On the fundamental side. EURUSD has come a long way down from 1.4000. Ever since ECB announced negative deposit rates, cut interest rates and a whole host of monetary policies. With easy monetary policies for Euro for the next few years, the fundamental economic factors are bearish EURUSD. On the technical side, there is a technical support level around 1.3300....
I'm waiting for a big dip to buy NZDUSD. After falling 140pips from the peak at 0.8830-40, this represents a good opportunity to buy for a bounce. 0.8660-70 is the 38.2% FIB retracement level & weekly S3 pivot support. Long NZDUSD 0.8660-70 SL 0.8610 TP 0.8840 ===== www.ForexPositive.com Twitter @ForexPositive =====
Scenario #2 (if bearish USDJPY) If the pivotal support/resistance at 100.60-80 fails to hold, and USDJPY makes a clean and decisive break below this level, there could be lots of stops from long positions to be triggered in the red circle. With the next significant support 300pips away at 97.00, market could attempt to go for the short side. In this case, short...
AUDCAD following bearish channel very well. This is a counter-trend trade. But the risk/reward is good, as we going long near the lower band of the bearish channel. Wait for re-test of 0.9940-50, which is last week's low. Long AUDCAD 0.9940-50 SL 0.9900 TP 1.0100 ====== www.ForexPositive.com Twitter: @ForexPositive =====
NZDJPY nearing resistance zone. 90.00 seems like a strong resistance zone. Short NZDJPY 89.90-90.00 SL 90.50 TP1 88.00 TP2 86.00
AUDNZD trading nicely within a very defined rising channel. This is a long time frame rising channel, which started its moves since Dec 2013. Will AUDNZD bounce up from point 3?? Enter long position around the 78.6% FIB retracement level. Long AUDNZD 1.0630-40 SL 1.0580 TP1 1.0800 TP 1.1000 ===== www.ForexPositive.com Twitter @ForexPositive =====
On the longer term daily chart, USDCAD is trading within a very strong bullish channel. This bullish channel started on Sept 2012, with 4 confirmed trend lines bounces. Could there be a 5th bounce at the support zone of 1.0560-1.0600? Enter a long position here to find out!! Long USDCAD 1.0570-80 (middle of the support zone) SL 50-60pips TP1 1.0800 TP 1.0900
NZDUSD is approaching its ALL TIME HIGH 0.8840, set in Aug 2011. I think its going to be hard to break above this level, at least on its first attempt. Short NZDUSD 0.8830-40 SL above 0.8880 TP1 0.8670 TP2 0.8400
NZDUSD is approaching its ALL TIME HIGH 0.8840, set in Aug 2011. I think its going to be hard to break above this level, at least on its first attempt. Short NZDUSD 0.8830-40 SL above 0.8880 TP1 0.8670 TP2 0.8400