The USDCAD has been discounted nicely, price violated the sellers on Tuesday by breaking above Monday's high.
This was a buy signal, we have seen a correction, consolidation, and a strong reversal (manipulation/stops hunt) without breaking below the previous Daily low.
We are buying above: 1.2607
Stop: below 1.2580
Target above Momentum High 1.2653
The pound is still bullish and the trend is still up, knowing this fact we want to buy the dips and stand aside when price is at the high.
look for a correction to the key fibonacci levels and buy in to the impulse to the upside.
1.3484 is the key Level we want to see price above before we can become bearish.
Trade with care.
Remember the market will not take...
This week analysis is the continuation of the last week analysis because the pairing in the idexes did not change.
CURRENCY PAIRINGS
BUY PAIRS
EURUSD
GBPUSD
NZDUSD
AUDUSD
EURJPY
GBPJPY
AUDJPY
CADJPY
SELL PAIRS
USDCHF
USDCAD
Note: Trading is execution, in order to trade successfully, you must learn to execute your trades flawlessly and do it over and over again.
The PoundDollar is resuming its uptrend after a correction.
The price has behaved as expected stopping at the 50% retracement.
15 Mins Price Behaviour: Consolidation and Breakout at 50% retracement level.
We have seen the first impulse and a pause. This pause is an opportunity to Buy into the uptrend.
Stop Loss is still recommended to be the Low of Yesterday. We...
This is a quick update on the Short Position we had on AUDJPY.
Price took long to break out of the trading range below the Momentum low of 73.79. We finally had this break this morning.
In order for further decline to be seen in the AUDJPY, price must remain below the momentum low and break 73.42 Low.
Alternatively a break back above the 73.79 will trigger a...
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.
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.
