The chart says it all. 5 Wave impuls lower was followed by an impressive 10 month long textbook WXY correction pattern that is currently coming to an end. Wait for the market to form a Lower High maybe around 1.3400 and enter a sell targeting the 1.25 lows. Dont rush the entry, wait for it to form some kind of topping pattern on the 4H chart for example. Note:...
Bullish in this pair. Read comments on chart. Follow me at www.facebook.com
Currently short on the daily & 4hr charts. - Big news will impact trades - Long (weekly) trades will probably be safer. - Monthly fib - Downward trendline that has been tested 1 strong time so far. - Daily/Weekly long term trade. - Similar to the price action of USD/JPY that we profited from recently.
Morning traders, interesting down move by the USD as it has pushed below recent lows and is headed for the most recent lower high. A close below that would confirm further downside to the high low at 11840 Stops at the last high 11990. Of course a failure to close below the last higher low does open a buying opportunity as we see the RSI headed for oversold...
I've marked in red and green arrows where this range (purple dotted lines) has acted as resistance or support, it's clear that the purple range is a key level for determining if the Dollar will be bullish or bearish as sustained breakouts often occur within this range. With farm roles lower (as expected) we have a strange scenario where by the Dollar, Gold, Oil...
Price action has double topped at the trend line and broken the 61.80% fib line. A new lower high has also been formed. This suggests bearish price action ahead. A suggested entry would be on a failed re-test of the trend line.
$EURUSD Greenback will be shooting stars. Yuu can forget about the weak dollar and be careful about the currency devaluations against dollar. As you can clearly see from the chart EUR is about to get smashed by dollar. It is moving down nicely in a channel. So far, the indicators are confirming the down trend. 1.17 is acting as a strong resistance. I am initially...
My first forex is GBPJPY, but, it is going up and i miss it.. So during waiting GJ. I am scout new forex and found this USDCAD. Maybe it will make the 1-2nd wave and going up to 3rd wave. My plan: IF it not Lower low than 1.26253, I am waiting to break Trend line and BUY. After break 1.275, I will put another BUY. Plan B: If it going down , Let it be....
A weekly close above key monthly resistance last Friday above 0.7550 gives us projections of upside potential to weekly resistance at 0.7780. Statement is supported by Fibo extension level 161.8%, a weekly break and close of monthly resistance @ 0.7550 , bullish engulfing candle pattern. We are waiting for further price action.... a retest/consildation around ...
- Fundamental Analysis This week, Canada should play a main actor on the FX stage with plenty of economic data. - Canada GDP - RBC Manufacturing PMI - BOC Meeting - Canada Employement report I think those are last pieces of Canada in this financial year; after this week, BOC members would shut down their computers and book the ticket for Chirstmas...
In 8 hours we will witness the perhaps most anticipated news event in Forex of 2015 so far. The FED will communicate their rate decision, accompanied by a written statement, economic projections and a press conference. The Dollar is fundamentally the strongest currency due to the expectation of a rate hike this year. This sets it apart from currencies like the...
We reach to Super Thursday with all market attention on Bank of England Meeting. In Bristish Pound Super Thursday : - BOE Inflation Report. - BOE Press Conference - BOE Mark Carney Speech - BOE Interest rate decision. What does market expect ?. - Consensus hope there are at least two member of BOE vote for rate hike. - How to BOE deals with low inflation in...
Next week, no major US economic data, market shifts attetion to other currencies: - Australia CPI - RBNZ Meeting - BOE Meeting Lack of data , risk appetite will play the key role in driving the greenback. Like I said in the recent topic,USDollat met resistance at 97.72. I wait for the breakout, and indeed USDollar pierced the resistance. We have enough...
Good question. A pretty weak currency, versus, clearly, the strongest. USDOLLAR is flying high, and the greenback has seen increases in 11 of the last 13 weeks. This is certainly reflected in the EURUSD which is dropping like a stone, and where there may be some time between significant setups, simply because of the speed of the drop. SNB’s stunt resulted in a...