For the current being, i will be strongly sided towards Sell for the Downtrend. However the price is now on bullish and i assume that is retracement period is taking over. Line price of 1.3488 is the last area of resistance that if the price can break this price, i will assume that downtrend is no more valid and sideway will be taking over. I will avoid the trade...
We have been looking at the resistance zone ( red box ) for a couple of weeks now ( if you see our previous USD CAD trade idea ) and we have been waiting for price to retest this level... price has finally done this today so now we are looking for movement down to our support zone ( green box )
Again we are keeping it nice and simple and not trying to fry your...
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GBPJPY FOREX BREAKDOWN 03 APRIL 2019
Strong bullish price movement above previous highs taking out several sellers!
Sideways moving market with strong waves
Market waving with Good short entrys now!
ENTRY @ 146.865
SL @ 147.330
TP @ 145.250
(Use half of normal Risk!)
USDCAD MADE A 5 WAVE MOVE UP WITH A CORRECTION A-B
USDCAD IS NOW GOING FOR THE C CORRECTION THEREBY FORMING A SHARK PATTERN
LOOK TO BUY FOR A SHORT WHILE AND SELL @ ENTRY ZONE MARKED OUT.
PRICE MIGHT GO BEYOND THE SHARK ENTRY ZONE TO THE ZONE MARKED IN RED
WAIT FOR PRICE REJECTION AND REVERSAL BEFORE ENTRY.
USDCAD Forex Cross pair sell opportunities at new supply levels with monthly supply imbalance at 1.3996 in control. No longs are allowed with such a strong supply zone in control. There are strong bearish impulses being created on USDCAD Forex cross pair with new levels of supply on the daily timeframe being created around 1.3596 and potentially around 1.3340. No...
Breakout + Retest has been made on D1 chart , time for a long way down i would say !
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The loonie looks primed to take ground over the greenback not only in terms of technicals, but also fundamentals.
This week, on the 19th, the Fed will give us insight into future changes in the federal funds rate, with most language being dovish recently. They probably won't lower it this upcoming week, but rather do it in late July and once again in Sept. As of...