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
Scenario #2 (bullish AUD) If AUDUSD makes a clean & decisive break above 0.9450, wait for a pullback. When AUDUSD retraces to the pivotal range of 0.9410-50, enter a long position Long AUDUSD 0.9410-50 SL 0.9350 TP 0.9750
Bullish continuation pattern in GBPJPY The ascending triangle pattern is a bullish continuation pattern in GBPJPY. There are 2 ways to trade this pattern. 1) Aggressive method (Long GBPJPY on breakout) Place a buy stop order on breakout above 173.50 SL 173.00 TP 175.00 2) Conservative method (wait for retracement) After GBPJPY breakout decisively above 173.50,...
0.8500 is the strong support which has now turn into resistance. I am looking for a deeper pullback to 0.8540, the 38.2% FIB retracaement, before initiating a short position. The main risk to this technical picture is another RBNZ rate hike in June/July. If RBNZ raises interest by another 0.25% to 3.25%, the bearish TA could be negated. Short NZDUSD...
Scenario #2 if AUDUSD breakout below 0.9200 support AUDUSD short on pullback to 0.9200 pivot zone If it breaks below 0.9200 decisively, 0.9200 should act as resistance zone. Look for pullback to 0.9200 to enter short position Short AUDUSD 0.9200 SL 50pips TP 0.9080
Scenario #1 if AUDUSD bounce up from 0.9200 support AUDUSD short on rally Strong support zone at 0.9200. If 0.9200 support level holds, and AUDUSD rallies upward to 0.9330-40, look to enter short positions here. 0.9330-40 is a resistance zone & 61.8% FIB retracement. Short 0.9330-40 SL 40-50pips TP 0.9200
With ECB most likely doing a rate cut & negative deposit rate in June, it is sell rallies mode until the next ECB meeting in June. Sell EURUSD at red resistance zone 1.3650-70. Target profits at green support zone 1.3500 & 1.3300. Short EURUSD 1.3650-70 SL above 1.3700 TP1 1.3500 TP2 1.3300
Short NZDUSD 0.8690-0.8700 SL 40-50pips TP1 0.8550 TP2 0.8250