Currencies are traded on the Foreign Exchange market, also known as Forex. This is a decentralized market that spans the globe and is considered the largest by trading volume and the most liquid worldwide. Exchange rates fluctuate continuously due to the ever changing market forces of supply and demand. Forex traders buy a currency pair if they think the exchange rate will rise and sell it if they think the opposite will happen. The Forex market remains open around the world for 24 hours a day with the exception of weekends.
Before the Internet revolution only large players such as international banks, hedge funds and extremely wealthy individuals could participate. Now retail traders can buy, sell and speculate on currencies from the comfort of their homes with a mouse click through online brokerage accounts. There are many tradable currency pairs and an average online broker has about 40. One of our most popular chats is the Forex chat where traders talk in real-time about where the market is going.
From our point of view we expect a pullback in the short term.
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Hello,
Look for confirmation to enter, I also advise you to facilitate this trade in a lower time frame for a better entry. Please execute with your own due diligence. The financial markets are risky, I am not responsible for any capital loss.
Thanks,
Trade Wisely
EURAUD is approaching our first resistance at 1.5777 (horizontal overlap resistance, 50% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 1.5454 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching our resistance ...
GBPAUD is approaching our first support at 1.7769 (horizontal overlap support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8084 (horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci retracement). A ...
Early trade on Tuesday witnessed a strong round of selling take place, as traders favored the safe-have yen on escalating tensions between the US and China. As is shown on the H4 chart, the downside move breached the 110 handle and clocked fresh lows of 109.55 as we entered European hours. On the back of a recovery in US equities, said lows remained supportive and ...
NZDUSD is approaching our first resistance at 0.6920 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 0.6872 (horizontal swing low support). A breakout below our intermediate support at 0.68858 (horizontal swing low support) ...
Hello,
Look for confirmation to enter, I also advise you to facilitate this trade in a lower time frame for a better entry. Please execute with your own due diligence. The financial markets are risky, I am not responsible for any capital loss.
Thanks,
Trade Wisely
USDCAD is approaching resistance at 1.3408 (100% Fibonacci extension x3, 78.6% Fibonacci retracement, horizontal pullback resistance) where a reversal could occur, causing price to drop to its support at 1.2828 (100% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is testing its resistance at 97% where a corresponding reversal could occur.
Hope this idea will inspire some of you !
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CHFJPY reversed nicely off its resistance at 110.74 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could drop to its support at 109.70 (78.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (21, 5, 3) is approaching its resistance at 92% where a corresponding reaction could occur.
USDCHF is approaching our first support at 0.9912 (horizontal overlap support, 38.2% Fibonacci retracement, Elliot wave structure, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.000 (61.8%, 100% Fibonacci extension, 78.6% Fibonacci retracement).
RSI (34) is also approaching support where ...
Hello,
Look for confirmation to enter, I also advise you to facilitate this trade in a lower time frame for a better entry. Please execute with your own due diligence. The financial markets are risky, I am not responsible for any capital loss.
Thanks,
Trade Wisely
CADCHF is approaching its support at 0.7432 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price could bounce up to its resistance at 0.7609 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.03% where a corresponding bounce could occur.
Hi all,
i've been looking at this pair over the last days, and it finally turned into a trading opportunity right now. The blue zone is a structure zone in which price has lately been very sensitive and it's also been a zone in which price has gone overbought on the 4hr chart, also creating a short candlestick with an engulfing candle. Moreover, on the hourly ...
![USDCAD: [USDCAD] WAITING A PULLBACK](https://s3.tradingview.com/u/UbSM7OTv_mid.webp "[USDCAD] WAITING A PULLBACK")
