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...
Afternoon 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...
Morning 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...
Morning 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. ...
Afternoon 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...
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...
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...
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...
Afternoon 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...
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...
Morning 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...
Afternoon 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...
Afternoon 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...
Afternoon traders, US dollar versus Japanese Yen flagging a bearish pattern with the formation of a Bearish Harami as RSI hits resistance level and Stochastics trade in extreme overbought territory on 4 hourly. Looking for this pair to head lower from here back to 108 levels then a potential break down to 107.5 Follow us on tradingview under forexTrdr to get...
Morning traders, Nice short setup on Euro versus Japanese Yen on our trading view chart with the pair running up to resistance levels around 123 and at the same time trading volumes are heading south just as the overall market goes risk off again. Using this as the perfect opportunity to position for more risk off headlines from China trade talks after the...
Morning traders, Looking at the setup on British Pound versus Aussie dollar which we played from long side last week and are now looking to play from the short side with British Pound running out of upward momentum back at the resistance area highlighted in our trading view chart and looking likely to head lower again. The price action also shows up on the...
Morning traders, Looking at the setup on Euro versus Japanese Yen which after breaking below support at 123.5 area, and more importantly holding below as per our trading view chart, the pair is opening up a retest of year to date low at 118 area. The break below 123.5 area leaves very little in the way of near term support providing a great risk reward setup...
Afternoon traders, Looking to enter a short trade on New Zealand Dollar versus US dollar after the pair have failed on numerous occasions to breach resistance just under 1.06. Add to this that the pair is extremely overbought on stochastic and the price patterns pointing to a move lower as per out trading view charts. Clean simple trade with a the ability to...