EURCAD ThesisEURCAD thesis: a head and shoulder pattern has been formed, can we expect this pair to move lower? What is your thought on this pair?
Fxmarket
What is Forex and How Big It Is?💱
Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates.
Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily.
Forex market is a vital element for a global economy because it provides capital exchanges between the countries.
The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors.
🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds:
📎Total transactions value reaches 3.52 billion US dollars.
📎 1.15 billion dollars of spot transactions.
📎 1.65 billion dollar of exchange swaps.
📎 Total transactions value involving USD reaches 3 billion US dollars.
📎 Total transactions value involving EURO reaches 1.1 billion US dollars.
📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value.
It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders.
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Long SetupGBPUSD - What I see. GU is currently at a BuOB (Bullish Orderblock). Saw a nice reaction today, respecting that OB.
I would wait for tomorrow for the London Open. And wait for Judas Swing, before taking any Longs❗
Take note.✍🏽
AUDJPY - Short BiasAfter a 5-wave decline from 95.74 to 90.46, the pair is correcting in a 3-wave pattern. It is not clear whether the correction is over or one more upwards leg is on the cards, but I prefer to play this from the short side as long as we trade below 95.74. A break above this resistance will make us reconsider our count, otherwise we expect a large decline, through 90.46 towards 89.00
EUR/USD 4HR CHART BUY SET UPHi everyone this is my trade set up for the EUR/USD for the new week ahead
EUR/USD has changed to a bullish bias for me now, so i am expecting a pullback to the order block zone and will be looking for a buy trade
look for pullback to zone lined off on chart then if it meets your criteria for a trade then execute
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome
EURCHF: Pullback From Key Level 🇪🇺🇨🇭
EURCHF reached key daily structure support recently.
On that, the price formed an inverted h&s pattern and broke and closed above a falling wedge pattern.
Now further growth is expected.
Goals: 1.08 / 1.085
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MarketBreakdown | USDJPY, EURNZD, GBPAUD, AUDUSD
Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ USDJPY - Monthly time frame 🇺🇸🇯🇵
What a crazy bullish rally on yen pairs.
For many days USDJPY is unstoppable.
Being heavily overbought, the price is approaching a key monthly structure now.
114.5 - 115.0 is a supply cluster on focus.
Chances will be high to see at least a pullback from that.
2️⃣ GBPAUD - Daily time frame 🇬🇧🇦🇺
GBPAUD remains bearish.
Recently the price broke and closed below key daily structure support.
Trading within a falling channel, a further decline is expected to lower structure levels.
Consider the boundaries of a channel for your trend-following/counter-trend entries.
3️⃣ EURNZD - Weekly time frame 🇪🇺🇳🇿
1.631 is key weekly structure support.
Look for a confirmation on lower time frames to catch a pullback.
Alternatively, its bearish breakout will lead to a strong bearish rally.
For trend-following trading short the breakout.
4️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸
The pair is growing throughout October.
Being relatively overbought the market is approaching a key daily structure resistance.
0.7475 is a key level on focus.
Look for confirmation on lower time frames to short the pair.
*By confirmation I mean a reversal pattern being formed on 4h/1h time frames.
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NZDCAD: Classic Top-Down Trade Explained 🇳🇿🇨🇦
NZDCAD reached a key daily structure support yesterday.
On 4H time frame, the price formed a double bottom formation and broke and closed above a falling trend line.
I expect growth on the pair.
Goals:
0.8785
0.8865
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GBPNZD: Very Bearish Outlook 🇬🇧🇳🇿
Have you seen that bearish breakout on GBPNZD?
The market was steadily growing within a rising parallel channel
and just recently its support was broken to the downside.
Now I expect a bearish move.
Targets: 1.945 / 1.939
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DOLLAR INDEX (DXY) Technical Outlook & Update 💵
New higher high on dollar index again.
The price has successfully violated 73.2 previous high.
The sentiment & directional bias remain bullish.
Here are the key levels to watch for occasional pullbacks:
Resistance 1 - 94.3
Resistance 2 - 94.75
Resistance 3 - Upper boundary of an expanding wedge
Closest major support:
Lower boundary pf an expanding wedge.
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NZDCHF: Classic Breakout Trade 🇳🇿🇨🇭
NZDCHF broke and closed above a falling wedge pattern on hourly.
Retest of that gives us a very safe entry to buy the pair.
Initial target - 0.6564
Stop - 0.649
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GBPUSD: Market Breakdown & Multiple Time Frame Analysis 🇬🇧🇺🇸
Top-down analysis on GBPUSD.
Price action & key levels.
Trading recommendations & thoughts.
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EURCHF: Classic Structure Trade Explained 🇪🇺🇨🇭
Hey traders,
EURCHF is standing on a key level.
1.083 - 1.085 is our potential reversal zone.
Our confirmation to short is a bearish breakout of 1.0827 - 1.0832 minor horizontal support.
Its violation will match with a breakout of a rising wedge pattern.
Then sell aggressively or on a retest.
Goals:
1.079
1.075
In case if the price sets a new higher high higher close on hourly,
the setup will be invalid.
GBPNZD: Pullback From Key Level
GBPNZD is a quite overbought pair.
With 2 MA's cross, it looks like the market is preparing for a bearish move.
We already shorted.
Our goal - 1.98
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USDCAD: Trading Signal From Our Team
EURJPY
- Classic bullish continuation setup
- Our team expects a bullish wave
SUGGESTED TRADE:
Swing Trade
Buy USDCAD
Entry Level - 125.9
Sl - 124.6
Tp - 127.8
Our Risk - 1%
Start protection of your profits from lower levels
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Forex Sell Euro Heading Lower?Hey traders so I just saw a nice shooting star form on the Euro daily chart after trying to break above 50% retracement level. This is a sign of weakness and I think it is a good price to sell the Euro at the current market price. I will sell at the market and place my stop right above the high of the previous days shooting star candle. Then look to take profit or add more positions if Euro moves lower.
Trade Entry 1.1931
Stop Loss 1.1980
Exit Strategy- Move stop to break even after market moves in favor same amount of pips risk. Then look to lock in more profit.
Risk Management:
(Always look at every trade as how much you can afford to lose. Make sure it is your risk managment tolerance. Most experts recommend never to risk more than 2% of you total account equity on any given trade. Then protect your profits until market reaches your desired target.)
Trade Well,
Clifford
The Euro has a 123 Top Confirmed!Hey Traders so as I just metioned on the US Dollar forming a 123 bottom formation we can now see that the Euro has formed a 123 top formation. This is a strong bearish signal that means the Euro could be about to make a 50% retracement. I will be shorting the Euro now that the daily charts have confirmed this pattern!
The way you trade the 123 top formation is you place your sell order below the 2 point and your stop above the 3 point and then you make a profit target of at least 2 to 1 or more. If the Fed decides to taper due to inflation we can see the Euro fall hard possibly way down do even march lows. Of course always expect the unexpected when you trade the forex and always use risk management before you enter your trades!
Trade Well,
Clifford
GBPJPY Long trade ideaIt good opportunity to buy GJ as it has create strong support.
ALways do your own research before taking any trade.
GBPJPYThere is a continuation of the falling GBPJPY.
We got a double top and a retest. Im expecting an easy target at tp1 for + than 80 pips.
From there lets see 📉📊
GBPUSD H4 - Long BiasA little more detail via video analysis summarizing cable and potential upside moves as long as we are sitting above that key psychological 1.30 handle, not just a whole number, a more significant zone than that, multiple confluences stacking up here too which is great.
AUDCAD STRUCTURE ANALYSIS AUDCAD has reached the important level.
I expect rejection from 94.000, there are 3 important points with significant clues towards bearish bias.
- DAILY KEY LEVEL
- REALLY STRONG TREND LINE
- STRONG PRICE 94.000
