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forexTrdr #SundaySetups- XAUUSD - GOLD FINGER BEATEN AGAIN?Afternoon traders, We hope you are enjoying the long bank holiday weekend with both UK and US markets closed on Monday we would expect a slow start to the trading week with Monday being somewhat non-existent in terms of volumes and volatility. For this weeks SundaySetups we have taken a look at Gold versus US dollar. On our trading view 4 hourly chart you can see a clear descending trend from the short lived highs of early February at 1344 with a series of 4 lower highs down to the current range supported by 1268 area on the downside and capped by resistance around 1290 on the upside. What we are highlighting here in our chart is that should the current trend continue we should see a short term move down to 1270 area before a potential retest of 1290 and then a break lower down to supports around 1245 to 1250. The market however has been extremely volatile over the past two weeks with risk sentiment extremely indecisive due to US and China trade talks having gone from expectations of a deal to be completed in a week to both sides increasing rhetoric in an escalating war of tariffs. Stocks have spent the last two weeks being down 1% one day only to pop back up another 1% the next day. All of this making markets extremely difficult to trade and suggesting it is best to trade short ranges in a defensive manner rather than medium term swing trades. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
FX:XAUUSDLong
by forexTrdr
forexTrdr GBPUSD - MORNING STAR & BULLISH HARAMI AHEAD OF GDP Morning traders, We have a British pound versus US dollar trade setup ahead of UK GDP at 9:30 (BST) where consensus is pointing to 1.8%. Should we see a beat then we would be looking for British pound to trade to mid 1.31 area before pulling back lower within the descending channel we have highlighted in our trading view chart. The GDP data lines up with positive signals on the technical front with the pair trading around support levels at 1.30. On the candle pattern front we have had a bullish harami and morning star pattern forming in the past couple of days pointing to a bullish move higher. Additionally we have added stochastic to the chart showing that we are turning up from oversold status. The caveat to this trade is should there be a very poor GDP number then its best to close out the trade early, we however are hopeful for a beat in line with what we have consistently seen with the UK data coming in higher than economists predict. Comments and feedback are always appreciated from anyone in the trading community Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
forexTrdr AUDUSD- LETS MOVE HIGHER ON CHINA OPTIMISMMorning traders, Lots of activity overnight with US central bank meeting and CNBC reporting that US and China trade deal may be announced next week helping Aussie dollar find support overnight after collapsing lower post US Fed meeting where they stepped back from the idea of an interest rate cut. On the back of the meeting Aussie Dollar fell from 0.7056 down to 0.7008 from where it found support to slowly trend higher overnight. We are looking to see a move higher in Aussie dollar from this area after a series of higher lows from last weeks 0.6988 level. Additionally as per our trading view chart the pair has also found support on Marchs low. On top of this price action and the recent trend of trading from 0.70 up to 0.72 area we can look to RSI and Stochastic analysis where in both we can see a turn up from oversold levels. As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
forexTrdr EURUSD - EURO LOOKING TO MOVE BACK INTO UPPER RANGE?Morning traders, Looking at the setup on Euro versus US dollar after the pair sold back down to support around 1.12 area as per our trading view chart. Stochastics and support are the main drivers behind our view that the pair is likely to head higher back to 1.125 area before trading around resistance at 1.1260 then potentially breaking higher towards 1.13. Stochastics as per our tradingview chart is down in oversold territory and at levels we saw last Wednesday when we printed the recent low. Hence we have the same level of Stochastics but a lower low thus pointing to the pair trading higher from here. RSI is also finding support around the mid point. We called last weeks bounce perfectly- looking to do the same again this week (see attached trade idea on trading view) As always we try to keep our analysis clean and easy for anyone to be able to follow but should you want to learn more then please do get in touch. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Metatrader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
forexTrdr AUDNZD - SHORT INTO AUSSIE INFLATION DATAGood afternoon traders, Looking to position ahead of tonights Australian inflation data which we expect to come in below expectations of 1.5% (yoy) in a similar manner to the recent New Zealand data. Given the data driven nature of this trade we are trading with a tight stop loss just above the previous candle wick high on 17th April. Backing the entry of this trade is the long standing resistance around 1.07 that the market had turned lower from in the past few trading sessions in line with a declining buying volume which can be noted in our trading view chart work. We have taken a daily chart to highlight the turn over in stochastics as we look for the pair to head lower to 106 and potentially down to low 105 area should Aussie inflation disappoint overnight. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr USDCAD - TRIPLE TOPS IN TIME TO RETRACEGood afternoon traders, Looking at an interesting setup in US dollar versus Canadian dollar with a triple top forming around 1.34 with a third attempt to trade above that level failing and pointing to a pull back lower for the pair. More recently we just had slightly weaker than expected Manufacturing data from Canada which failed to give any real boost to US dollar suggesting we may have ran out of steam at this resistance level. That view is confirmed when we take a look at various other technical indicators including volumes, bollinger bands, rsi and, as per our trading view chart for this pair- the stochastic data also turning over and pointing to the pair heading lower. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
by forexTrdr
forexTrdr AUDUSD - RANGE RANGE BABYGood morning traders, Today we are starting with a look at Aussie dollar and US dollar. After positive Chinese growth data came out overnight- GDP and industrial production both beating estimates- Aussie dollar spiked up to the 0.72 area where it has previously found strong resistance both from the psychological aspect of a round number and this area coinciding with the 200 day moving average. The pair have been trading in a 2 point range since mid January from low 0.72 to low 0.70 area. After the Chinese data Aussie Dollar US dollar are at the top of the range and looking close to overbought on RSI and stretched on Bollinger band technicals. Tonight Australia has various employment data due, all of which will be highly watched by the market due to increased speculation that the central bank may look to cut interest rates. A disappointing number and we would expect this pair to retreat back to 0.71 area overnight. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr NZDUSD- DO KIWIS BOUNCE? ASKING A FRIENDGood afternoon traders, Looking at a severely oversold New Zealand dollar versus US dollar on multiple time frames. Most appealing to us is the daily timeframe but almost all time frames confirm the oversold nature of this pair after the recent inflation print disappointed. 0.1% versus 0.3% expectation. This led for the New Zealand dollar breaching key levels around low 0.67. The market appears to have a found support around levels dating back to January both on the headline number and on the subsequent short lived bounce after it. Now we currently see the pair in extreme oversold status on RSI and bollinger band analysis highlighted in our tradingview chart. The bounce we are looking for may not start to trend until the New Zealand session begins overnight but we are looking for a sustained bounce into next week take New Zealand dollar back towards mid 67s. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
forexTrdr EURJPY- CANDLESTICKS LIGHT UP THE WAY FORWARDGood morning traders, Looking to change up our recent technical analysis examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an Evening Star candle forming on the daily over the 15th and 16th. Evening star are early indicators of a future bearish trend forming. This coincides with Bearish Harami pattern forming on the 4 hourly on Friday as suggesting that the pair is due to correct lower. Other technical indicators also line up such as Ichimoku cloud (trading significantly above it), RSI, stochatsics and long running resistance levels to the upside. As always this is not a trade recommendation and simply technical observation. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr CADJPY - RSI BULLISH DIVERGENCEAfternoon traders, Enjoying this setup in Canadian dollar versus Japanese yen and the ascending channel which the pair have been in since mid May. We have had higher lows in RSI whilst price has been setting new lows pointing to a bullish divergence signal for the pair to move higher within the ascending channel as per our trading view chart. The setup allows for great risk reward with stop loss just below the ascending channel support whilst allowing us to target 83.5 on the upside. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Or if you want a free one month signals trial with us please get in touch. Good luck trading from the Team at forexTrdr
Long
by forexTrdr
forexTrdr USDCHF SELLING AT TOP OF CHANNELMorning traders Looking to go short US dollar versus Swiss Franc as the pair tap the descending trendline that has held since April and is highlighted in our trading view chart . The re tap again yesterday coincides with reaching overbought levels on stochastics. Given the market has been challenging recently we have have waited for confirmation of a cross over on stochastics and the lower highs pattern to confirm itself on hourly charts. We are looking for the pair to retest and create a double bottom around low 97s. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Or if you want a free one month signals trial with us please get in touch. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
1
forexTrdr USDJPY - TRENDLINE, STOCHASTIC + RSI ALL POINTING 1WAYMorning traders We have multiple indicators lining up to suggest US dollar versus Japanese Yen price action is about to head lower towards low 107 area. Firsly we have a descending trendline that we have highlighted on our trading view chart coming from 109 area on 10th of July and being tapped twice overnight at low 108s before pulling back to 107.85 area. This is in line with stochastics rolling over from overbought status and RSI pulling back from resistance to the upside around 52. All of which we have highlighted on our trading view charts to make it clean and simple to understand. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Or if you want a free one month signals trial with us please get in touch. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
forexTrdr USDJPY - RETAIL#S SAY NO NEED FOR DOUBLE RATE CUTAfternoon traders, Another strong beat for US retail data further suggesting that the economy does not need a full 50bp rate cut from the US central bank and that 1 cut is more than enough. The retail beat along with strong employment data at start of the month making the market rethink multiple rate cuts and a lower US dollar. For this specific trade we have an ascending support line shown in blue on our trading view chart and multiple bounces off of 107.8 area. We are looking for a near term move to 108.5 and potential break higher to resistance around low 109. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Long
by forexTrdr
forexTrdr AUDUSD - OVERBOUGHT HEADLINE SPIKE- >100 PIP PROFIT?Good morning traders, After last nights confirmatory words from US central bank chair Powell that they will be looking to cut interest rates (as the market expected) we had a bout of USD weakness which we were able to take advantage of for our team in longs on GBPUSD, EURUSD and short USDJPY clocking up over 200 pips on those three trades alone. We are now looking to take advantage of the move higher in AUD to resistance levels and overbought territory. As per our trading view chart we have highlighted a resistance level around 0.6977. This coincides with an overbought level on stochastics which has on previous occasions resulted in a significant pull back. Additionally volumes have remained extremely low on this move higher suggesting there is very little in the way of follow through demand for this pair to move higher through resistance. We are targeting a move back to mid 0.68 area and profits upwards of 100 pips as continued data out of Australian economy points towards a downturn. We are offering more 4 months free signals if you sign up via the details on our profile Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
forexTrdr USDCAD- 170 PIPS PROFIT EXPLOSION ABOUT TO REPEAT?Afternoon traders, After a big number on US Non farm payroll data surprised the market on Friday and threw the market into doubt over whether the US central bank, the fed, will cut rates at the next meeting giving the US dollar a bounce in strength into the weekend against market expectations. We are looking at a long setup in USD versus Canadian dollar with the pair slowing and bouncing off February's low resistance levels as highlighted in our trading view chart. We have also highlighted how oversold the pair are on stochastic and rsi indicators with. We have highlighted on the Stochastics the last time the pair hit this level and resulted in a 172 pip move higher. We are therefore targeting a move to low to mid 1.32 area and at the same time place a stop loss just under the recent lows skewing the risk reward in our favor on a 3.8 basis . We recently had a doji form on daily candles suggesting we have reached a near term low as selling volume matched off against buying volume which generally points to a change in direction nearterm. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Long
by forexTrdr
forexTrdr NZDUSD - FIBONACCI GIVING WAY- NEXT STOP .65?Morning traders, Looking at fibonacci supports on New Zealand dollar versus US dollar after a perfect wave pattern formed and pulled back to fibonacci support around 0.6672. The pair have broken below and look set to make a move lower towards low 0.66. Our trading view chart is hopefully self explanatory. Additionally we had the Australian central bank cut interest rates overnight which was fully priced in but earlier this morning the central bank governor stated they are prepared to adjust rates again if needed. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
forexTrdr AUDNZD- SHORT SQUEEZE COMPLETED- TIME TO FALL BACKAfternoon traders, Looking at another great setup this time in Aussie Dollar versus New Zealand dollar which spiked overnight as the Aussie central bank cut rates but then indicated that was them finished cutting rates causing a short squeeze in this pair up towards the 100 day moving average around 1.05 where it has lost steam in moving higher. Having watched this pair since the London open to see if it is finished squeezing higher we now see it as a great time to enter a short looking for the pair to pull back to yesterdays 1.0420 area and potentially lower. Our trading view highlights the descending trend line that has held and the overbought nature on stochastics both making this a great level for entry and a clean trade to understand. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
forexTrdr EURGBP- BEARISH DIVERGENCE HEADING FOR 400 PIP DROP?Afternoon traders, Smashing the trades out today with G20 out of the way and the start of a new month there is some great setups lining up. Euro versus British Pound being one of those with a bearish divergence forming on RSI. As you can see in our trading view chart RSI has been forming lower highs at the same time as price action was forming higher highs. This has now topped out around 0.89935 and has, since Friday, formed a series of 3 lower highs and lower lows. Volumes have also peaked suggesting that the market has ran out of steam to run higher from here. We have also highlighted all of the relevant support levels that may prove sticky on pricing before the pair head back down towards low 0.87 area and potentially retest May levels of 0.85. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr
Short
by forexTrdr
forexTrdr EURAUD- TREND AND SUPPORT IN PLAYMorning traders With the Aussie rate cut out of the way and having very limited impact on the market given how well flagged it had been the setup on Euro versus Aussie Dollar is looking interesting. The pair are trading close to oversold levels on multiple metrics and at decent support level as highlighted on our trading view chart. There is also an up sloping trendline coming into play around these price levels. Additionally volume is falling as the price has fallen suggesting that selling interest is running out of steam into the rate cut and we may be about to see a move higher again within the trading range towards 1.63 then potentially 1.64 area. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefing
Long
by forexTrdr
forexTrdr EURJPY TURNING OVER TARGETING 121Afternoon traders, Monday afternoon and we are looking at the 130 pip run up in Euro versus Japanese Yen since early morning Friday taking this pair up to resistance around 122.4 area where the pair are running out of steam and turning over on stochastic indicators. Our trading view chart highlights the relevant support and resistance levels for this pair which have been on a descending trend since early March which we are looking for it to carry on and believe the current market level is just the latest in the series of lower highs. Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr AUDUSD SELL SELL SELL AT RESISTANCEAfternoon traders, Today we are taking a look at Aussie Dollar versus US dollar which is finding substantial selling at resistance levels just short of 0.6970. The pair appear to be at the latest lower high of its lower highs, lower low patterns and looks set to turn lower back towards mid 0.68. The touching of resistance levels is being met at the same time as Stochastic shows extreme overbought levels and rsi reaches the top of its trading band. Clean and simple Follow us on tradingview under forexTrdr to get our sample ideas free and immediately - its free to setup a profile and the charting tools and software is easier to use than Meta trader and most broker platforms. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr EURUSD TURNING OVER FROM OVERSTRETCHED LEVELSMorning traders, We are looking at the setup on Euro versus US dollar with the pair having run up over 200 pips since last Tuesday and now looking overbought short term as it reaches resistance levels just short of 1.14. We are therefore looking for Euro to pull back lower and retest support levels in low 1.13 area We have highlighted both overbought levels on RSI and Stochastcis turning over to head lower on our trading view chart work. from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr
forexTrdr GBPAUD- KANGAROO BOUNCE Morning traders, Looking to take advantage of the weakness in Aussie dollar overnight which took GBP AUD higher providing a great entry point for shorting British Pound against Aussie dollar. Our chart on trading view highlights the levels of overbought status on both RSI and Stochastics which have previously led to a move lower and the chart work also highlights the level of resistance that the pair has reached from which we expect to see a pull back eventually to mid 1.81 area. Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Short
by forexTrdr