The previous .786 entry got stopped out at much lower prices with a tight stop and now we are showing potential for reversal again at the 1.272 Fibonacci Extension and PCZ of Potential Bearish Butterfly as the RSI goes well above the last overbought reading. Given the scenario, I'd say it's worth trying again with a stop above the next Fibonacci extension.
The Canadian dollar (CAD) is expected to see some positive movement compared to the US dollar (USD) in the coming months. Investors believe that both the Federal Reserve (Fed) and the Bank of Canada (BoC) will have similar policy cycles, and this could have a positive impact on the CAD. However, there are other factors that can contribute to the CAD gaining some...
Hey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 139.500 zone, USDJPY was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 139.500 resistance zone. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring USDCHF for a selling opportunity around 0.86500 zone, USDCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.86500 support and resistance zone. Trade safe, Joe.
Hey Traders, in the coming week we are monitoring NZDUSD for a buying opportunity around 0.62800 zone, NZDUSD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.62800 support and resistance zone. Trade safe, Joe.
Last time we looked at the U.S. Dollar Index (DXY) we gave a sell signal on the exact top, the Lower Highs trend-line (chart below): Our first target (102.000) got hit, which was basically the 1W MA100 (green trend-line) that supported on the May 08 bounce. This week, that trend-line broke emphatically (also the 100.825 Support) and that is a strong bearish...
2023.7.14 USD has fallen below the 100 integer mark Hello, I'm Older Duan. Today is Friday, July 14th 2023. Now it's 17pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the U.S. Dollar Index has fallen...
The EURUSD rally continues and we are now above 1.1200. The next resistance level is at 1.1274. All active buys should have stops moved and a close option considered. There is no basis for new entries at these levels! At the end of the week, there may be some profit taking which will lead to a correction.
– Previous Daily candle closed small Bullish at 1960.700 as price have been consolidating on the 4h and 1h timeframe throughout the Thursday trading sessions. – Buys on close above 1963.800 targeting Weekly previous Support formed on 3rd April 2023 at 1969.200, Leaving Runners to the 4h previous Support formed on 2nd June 2023 at 1975.300. – Sells on close below...
EURUSD crossed today over the 1W MA200 for the first time since November 8th 2021. This more than 1.5 year wait comes as an incredibly strong long term bullish signal if the 1W candle closes over the 1W MA200. If it does, we will buy and target the R1 (TP1 = 1.13900) and R2 (TP2 = 1.15000). If it doesn't, then expect a rejection as this is the top also for the...
Price action & key levels analysis. Potential correctional movement explained. Trading recommendations and scenarios. ❤️Please, support this video with like and comment!❤️
My analysis today deals with how the further course of our popular currency pair "EUR / USD" could look. > The technical analysis and selected indicators, confirm the thesis of an imminent correction. = Why this is so, that I explain after the introduction. The DXY / USD has a non-negligible impact on EUR /USD, as the whole economy depends on its behavior. ...
Hey Traders, In the upcoming week, we will be closely monitoring AUDUSD for a potential buying opportunity around the 0.68500 zone. From a technical standpoint, AUDUSD has been trading in a downtrend, but there are indications that it is currently attempting to break out of this trend. On the fundamental side, recent developments, such as the soft CPI data...
2023.7.13 USD is about to challenge the 100 integer gate Hello, I'm Older Duan. Today is Thursday, July 13th 2023. Now it's 17pm Beijing time. Let me give you a quick comment on the technical forms of the current international mainstream varieties! First, what we see is the daily graph of the dollar index. As shown in the figure, the U.S. Dollar Index has...
USDCAD - 24h expiry Price action has stalled at good support levels and currently trades just above here (1.3150). We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. Short term RSI has turned positive. A move through 1.3200 will confirm the bullish momentum. We look to Buy at 1.3150 (stop at 1.3110) Our profit...
Yesterday the big news passed and EURUSD went up over 100 pips. Thus, it broke the resistance and confirmed the upward movement. All active buys can be with stops moved below 1.1000. The next resistances are at 1.1178 and 1.1274. The levels around 1.1080 will now act as a support and we will look for buys on a pullback. Today, we are more likely to see a...
US markets gapped up on buyers enthusiasm after a weaker than expected CPI release that signals inflation is easing more than expected. US Bond yields fell while the USD was sent lower also which I expect is the big story from overnight. I feel that the USD will find more weakness in the near term but will not be without a bounce here and there. Gold and Silver...
– Previous Daily candle closed Strong Bullish at 1957.600 tapping into the Daily Resistance formed on 16th June 2023. – Buys on close above 1960.400 targeting Daily Resistance formed on 9th June 2023 at 1965.500, Leaving Runners to the 1h Resistance formed on 7th June 2023 at 1969.800. – Sells on close below 1953.500 targeting 15min Previous Resistance formed at...