Looking at some good trades i took on AUDJPY this past week
Also breaking down some of the pairs in which I am looking for some possible trend continuations or trend reversals based on the market structure that presents itself.
Any questions on the analysis please do let me know via a comment or message.
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
End - week/Weekend forecast of DXY, the future of USD/XXX pairs.
Pattern: Bearish flag (price broke out of the bearish flag and is now trading in an impulsive nature.)
Bias: Anticipating a correction before continue with the bear run, however, i'm open minded to the impulsive approach.
DXY looking like its slowing down after the impulse move to the upside. Now forming a rising wedge and close to a AOI. Favouring downside for this but neutral at the moment waiting on clearer confirmation as to what the market will do to give us the highest probability trade.
Will update during the week.
XSNUSD looks to be consolidating in the range of $ 0.25 to $ 0.35.
On January 26th 2021, a low support level was established at $ 0.23.
On February 23rd 2021, a higher support level was established at $ 0.253.
A resistance range was established between $ 0.32 and $ 0.35.
As the higher support level exists with a wide range, in conjunction with the price action...
Twin deficit has resurfaced as a driving force towards DXY decline. At this point pairs are being controlled by psychological trend levels.
Presented is the DXY day chart. We can see a clear drop for a retest of the 2018 low which in contrast brings pairs such as NZDUSD, EURUSD, GBPUSD, etc to levels breached in Jan 2018.
A fundamentalist like myself begins to...
The overall trend was upward and the trend was violated as you can see I've drawn the blue dotted line.
The current price has started making Lower-Highs (LH) . However, the there is no Lower-Low (LL) .
If you go into technical terms, Rising Wedge and Symmetrical Triangle is being formed
USDCAD- If we look closely we can see that it rejects from the trend line. And we expect that in the next period to rise 200 pips. First around 1.31700 then around 1.33200. And if we look carefully we think that in this area it forms a W.
This low could not get any lower... at least, not for now. The chart does depicts a lower high which could signal a downward trend once it breaks the firm support at 0.9604. But for now, this support is showing signs that it's holding firm which gives bottom pickers a buying opportunity to step in.
This will be my views of USD/JPY (Aug 2018)
Please make sure to read the "update" comment as there will be changes along the way.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities...