USD is strong as a whole.
USDAUD: as mentioned in my last idea "Forex Divergence Watch: USD Pairs 20190419", Bullish Divergence (Blue) has turned out to Crazy Bought (Lime)
Crazy Bought(Lime) in 1H, 85m, Bullish Run in high volatility.
USDCAD: is breaking out the resistance.
USD Pairs being monitored:
USDAUD , USDCAD , USDCHF , USDGBP , USDJPY , USDEUR
USD index is approaching its support at 7.02(61.8% Fibonacci extension , horizontal pullback support, 38.2% Fiboancci retracement) where it could potentially bounce to its resistance at 7.03 (horizontal swing high resistance).
Ichimoku cloud is showing bullish bias where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
DXY is approaching its support at 96.86(100% Fibonacci extension , horizontal swing low support, 38.2% Fibonacci retracement) where it could potentially bounce to its resistance at 97.47 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
We are entering a period of time in the financial markets where it is difficult to sustain trends. All over the world, monetary policy from the central banks has been mostly negative. Guidance from the Swiss National Bank, the Federal Reserve and from the European Central Bank has been that the economic slowdown in their respective countries and all...
At the start of the year, markets priced in two interest rate hikes from the Federal Reserve. Then that number dropped down to one after dovish remarks from Fed Chair Jerome Powell which led investors to lower their expectations. Now with another surprise we have an even more dovish stance that was not necessarily priced in by investors. The dollar drops like...
On the day chart, the highest ceiling is the second hit on a Major Trend. But there is a shorter trend I identified that has hit more than 3 times. On the third time, it retraced up to 38.20 on fib which is why i believe it will be a steep sell opportunity until it breaks through the floor and tests it as a ceiling before going down. That test will be my entry.
Brexit is causing volatile market conditions with deep, quick moves. USD/GBP failed to reach the previous swing high and now is showing acceleration toward the major support around 0.75. There is confluence here with multiple Fibonacci levels and convergence of a long-term up trend support meeting short-term down trend support. I believe the fib levels will be...
Not going to give a detailed analysis here or draw too many lines to show trends, patterns. Stop loss .77154
Hope to exit super soon due to Brexit news on the horizon.
Please give me a like or a follow to motivate me to provide more frequent and detailed trading plans and ideas.
Im the unemotional, devotional trader that society doesn't deserve, but needs.
We have the momentum of a downtrend with this pair! The 2 legs down get stronger and stronger. We Also have a been put into the mini buyers! This is giving false hope to the buyers whilst the bigger picture we are in a downtrend. Now we have pulled back to 0.5 and made no HH. We are in for a downtrend. We could see a pull back to the 0.618 retrace...