We are short the USDCAD from 1.3177, the cycle of retracement ended at the open of London today. A Lower High is in place and we expect at least 1 more Lower Low in the Hourly Chart.
STop Loss at the High of 1.3184.
The retracement cycle in the AUDUSD is now complete. The ket to this is; price must not break below the Low of Today 0.68436
We are going to long above the 0.6853 targetting the structure @ 0.6910.
Stop Loss: 0.68436.
Price made a low of 108.428 on the 4th Dec. and then rallied making 3 consecutive HH's before retracing back to the current low of 108.43 . 108.495 is the Low of Friday, this stands as our preferred Buying price in the USDJPY.
A trade back above the 108.495 will trigger our long entry position, and the stop loss will be below 108.40.
Our Target is 109.35.
This pair has the potential to capitulate again, it all depend on the Yen Strenght that is currently obvious in all the Yen crosses.
Technically, price has rejected the 61.8% retracement of the Lower High created on 8th Nov. We will go short from 109.04, stop is at 109.30.
Intraday Target is 108.54.
GBPJPY is currently printing another lower High, price on the daily chart has been in range for several days and we have seen a breakdown from smaller time-frames. Yesterday rally can be considered as a discount in price. First indication is 140.43 is an area of interest, this price level was sold yesterday and another failure to advance beyond this point with...
We now have 3 completed Structural Failures, this means downtrend is now in force and we should see more lower prices in the usdjpy.
Add to shorts below 108.45 and our initial stop loss is at 108.93 area.
Below 108.45, move SL to 108.72.
Initial Traget is 106.48.
Daily Outlook is Bullish H&S Reversal pattern but not yet complete.
Hourly Momentum high @ 108.62, has failed to continue higher.
Daily Resistance is @ 108.45 area which has been tested once today, a break below 108.45 will intensify more selling in the usdjpy pair.
We have been watching this one very closely, Canadian Dollar has been very strong in recent days even with the strong Dollar on Friday, price continued to trade lower below the Momentum low. On Friday, some positive news for USD but bad reaction in USDCAD which suggests the pattern hasn't been completed.
The way to look at this is very simple, Think like a...
The weakness in USD is clear for all to see after FOMC release on Wednesday, however, we have to spot opportunities when the market presents it.
NZDUSD broke above the daily resistance 0.6883, the price action we have seen so far suggests that price is likely to reverse if it breaks below the resistance. Word of caution, Reversal does not mean a change in trend...
This pair is still in a strong upside trend at least short term. There hasn't been any violation of the current trend. Even the lower High did not make a valid Lower Low that might contribute to the downside momentum.
Lot of key economic actions today and we have to bear that in mind.
We are going Long the USDJPY above structure 109.39. Target is...
This pair we have been trading short term the previous 2 dontrend structure triggers, Price made a Higher low of 107.88 which in theory should propel the buyers beyond current level of 108.70. However, the behaviour we can see here is typical strong reversal for the continuation of downtrend. This completed wave is the last chance for Sellers, if price breaks...
SHORT TERM: 30MINS Candlestick Chart
EURUSD is still very Bullish according to the price pattern we have in this pair.
1.1485 is the Buyers Territory, it has been broken to the upside with momentum, that break confirms positioning and direction. the formality that preceded that break has to happen.
A correction which is discounting price, the only time this will...
The downtrend is strong and in place, we have seen a normal correction.
Price is stuck between 50&61.8% retracement of the 2nd wave down, the option here is to short below 143.55.
A very tight stop is required because if price trade above 144.15, a bullish run is possible.
Having said that, the dominant force is the downtrend.
The Bullish run is losing its momentum, price currently sits above an important structure 113.38.
A rollover below the structure will pose downside risk to the gains made by buyers.
We are short below the 113.38 targeting 112.59 area.
Stop above the current high 113.55.
To achieve consistent results; as a Trader your Job...
A well beaten Aussie still sit just above the Bullish line, 0.7210 stand as a price structure that will dictate where price will end up in the short term. A violation is in place, we can expect a push to the upside to correct the violation, buyers may push price above the momentum high or just shy of the high.
Entry Long: 0.7230
The situation here is as clear as it can be.
We have a Bullish momentum that took price all the way to 1.1472 last week, what we have observed since then is just a normal correction. We have a Higher High and Higher Low, the current retracement in price is another Higher Low of the last Higher High. Price as we know is the best indicator.