Hi traders:
Almost 2 months ago I published my view on CADCHF long in the beginning of June that ended up having a 500 pips movement to the upside. Now, we could experiencing the downfall on CADCHF as it is currently sitting at historical key resistance area of 0.7700. On the daily chart we can see the price action broke out of the .7700, but quickly drop down...
USD/JPY encounters strong support level
Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier.
Namely, it managed to neutralize multiple attempts of the currency exchange rate to slide downwards, including the 34-pip fall that happened in the middle of the day, under pressure from the 55-hour SMA....
Brent at moment looking like bullish correction with small rising.
I'm not going to trade this. Looking to sell a minor rally up near 49$
Just waiting for price to trade up to resistance in the Sell Zone.
If the market retest the resistance zone we can enter a Short trade setup.
Have a good trading week!
I am expecting GBPJPY to be bullish untill the completion of either of the two Gartley patterns.
Once that happens I expect it to test the trendline and I will wait to see if it breaks through or bounces off of the trend line to determine whether or not to go long or short.
As we can see on NZD/USD Chart Price Is gonna hit 50% fib level there's a possibility that the price will bounce or gonna go dip to the down trendline so watch out and happy trading.
DailyFx Forecasts
Trend is up
Volatility is 15%
News
Kiwi is bearish
USD Is netral
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Strictly technical outlook // Inverted Head and shoulders + Bearish Butterfly // Follow this Idea for updates on entry and exit TP1 0.99 TP2 1.011 TP3 1.017 ENTRY 0.98 SL // Use proper risk management //
Hi guys,
Technically: It seems the correction will be three waves that two waves completed and the third wave is not completed yet.
Fundamentally: Canada fundamentals are weaker than USA and Oil price is not also expected to rise so much that can improves Canada's economy.
Your likes and comments are appreciated
Thanks
As we can see here on USD/JPY There's not really obvious trendlines so i'm playing pure price action here so the market already turn into seller's territory the price is keeping "breaching" so the next level is at yellow-ish horizontal line but that not scratch the possibility that the price can turn into buy territoty so watch out and happy trading (and one thing...
As we can see on AUD/USD Chart the price is about to hit 61,8% fib level and just below that there a possibility price breach but for now the trend is down , just wait for price breaching or break above other than that Stay safe and happy trading
DailyFx Forecast:
Trend Up
Volitility 2%
Outlook Bearish
News both Neutral
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As we can see on GBP/USD Chart the price already hitting the supply zone and there are 2 scenarios that will happen, just wait for confirmation on where the price will be going.
safe and happy trading
DailyFx Forecast
GBP is neutral
USD is neutral
Volitality is 2%
Trend Bearish
Outlook Bullish
As we cans see here on CAD/CHF price is about entering demand zone if so, then prepare to take long, but there could be a possibility that the price will make a new lower low (broke) so wait for confirmation.
CAD/CHF Forecast On DailyFx
CAD is bearish
CHF is neutral
