Looking for a big sell to happen however before that we want the 23% fib level to be hit in order to make this trade active.
we will be looking to see where price struggles and if the ascending triangle trend line is broken, if so this will give us an indication of a potential strong sell.
Lets see how the dow jones moves this week and hope we catch the bag...
USDCHF moves towards major resistance residing at 1.0127 area. Resistance stands at the 1.0127 level. A break of there will clear the way for a run at the 1.0150 level.
On the downside, support Area is 0.9980 and then 0.9900 level Further down, support 0.9850 level. USDCHF moves towards major resistance on further bull pressure.
With the DXY in a crucial area laying in line with the 78.6 % Fibonacci level as well as a potential head & shoulder pattern, we may see this pair shoot to the upside. However, we have breached the descending trend line and closed above. This may be a false breakout or we will see a break & retest to push price higher for the USD. If the latter occurs, we should...
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I wanted to make this video to encourage you guys that you really can make a living trading Forex if you take the time to learn and educate yourselves. I show in the video how you could have made $300 in one day on this last trade we took for USDJPY. There were people who bought in when...
EURUSD on the path to re-test of 1.12. The newfound resistance range of 1.1310-1.1325 will likely be scaled in a convincing manner if the PMI's jump above 50.00, signaling a rebound in the factory activity. EURUSD Sell level 1.1320/50 Area first target 1.1260/1.1215 and finally 1.1180 area.
Other side of EURUSD breakout and stable 1.1400 Area first target...
So beginning with fundamentals, this is going to be an interesting pair to watch this week with the OPEC Meetings as well as the crude oil inventories on Wednesday. The discussion on oil being the most volatile topic as the OPEC represents 40% of the worlds oil supply alongside other news events such as FOMC talk and various other data releases.
Doing bit of...
Looking at the DXY ( Dollar Index ) we have a clear rejection off the descending trend line and 78.6 Fibonacci level so I see shorts across majority USDxxx pairs. I believe we can see plentiful downside momentum however we must be aware of NFP.
On the chart, you can see I have marked up the 71/88.6% Fibonacci level in the green zone where price has currently...
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Our entry has been a buy limit which has not yet been filled and started to reverse only a few pips prior, we will wait and see what happens
Buy limit at the 786
But why are we looking to get long here?
Comment below what you think
If we are triggered in we will post the full analysis.
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USDCAD 1.3400 acts as nearby resistance, a descending trend-line from March-high, at 1.3440, could challenge buyers afterward. In a case prices rally beyond 1.3440, next target 1.3510 and 1.3600 .
Downside is 1.3315 and 1.3250 may entertain short-term sellers prior to challenging them with an upward sloping support-line at 1.3220 and 200-day SMA level of 1.3200...
USDJPY 112.20 Area is Strong Resistance, not break this level then Sell USDJPY 112.20 used Sl 112.50 Take profit 110.95 and 110.00 Area.
Other side of Breakout 112.20 area Buy USDJPY Target 114.00 and 114.80 Area .