Autofx

Autofx Updated 

USDJPY has rallied 600 pips in the first 5 trading days of September 2022. Wow!! This is an aggressively Bullish pair as major institutions like JP Morgan have raised their interim long targets to 147.50 (August 1998 high). While I share that same target, there is a possibility of a Reversal at 145 psychological resistance level. Price is currently trading at...

Autofx Updated 

GBPUSD bears have dominated the market so aggressively over the past 14 months. The Russia/ Ukraine war, Socio-economic tensions, and the successive FED interest rate hikes have only served to accelerate this sell-off. However, price has reached a pivot as it bounced off 1.1500 psychological level which is also a double bottom pattern on both the Weekly and...

Autofx

Crypto prices may be in for another big crash, with billions wiped out over the past 12 months. Ethereum, the second biggest by volume completed impulse waves 1 and 3 as well as corrective waves 2 and possibly 4. If wave 5 comes with the same energy as waves 1 and 3, price could almost definitely drop below 1,000 with the projection as low as $280 A possible...

Autofx

What a year this has been on the Indices! The NASDAQ has plunged so massively that the crash has dwarfed the 2020 Covid-19 and even the 2008 global resession crash. Technically, this looks like it could continue its southward move as all indicators point downward. The Bollinger Bands have expanded as expected on the Monthly chart and frankly, the next real...

Autofx

EURGBP has ranged for the past 16 months, at times mindlessly and aimlessly. This has made many traders, especially trend traders lose interest in the pair. However, over the past month, price has shown some bullish intent and pushed towards multi year high at 0.8719. I personally believe this level would hold and send prices lower, however I am keeping an open...

Autofx

One of my best trades for last month was EURJPY long two weeks ago. Upon exiting that trade, I noticed that the pair was trading within an ascending chennel on the H4 chart. The projected top is around 140.60. Yesterday's Daily candle closed as a bearish pin off the 78.6 Fib level, signifying that price may be heading towards the bottom part of the channel at...

Autofx

This may well be the case if the 1685 Support holds once again as it has done since June 2020. Price is currently approaching multi year lows and may be seen as underpriced which would bring some bullish action. There is also an emerging Bat Harmonic pattern forming and point C is just a few pips above 1685. If this confluence holds, I expect a strong rally on...

Autofx

The Euro has slumped against the USD counterpart for the past 24 months, recently hitting parity and even dropping to 0.9900 briefly. Inflation issues and the Russia/ Ukraine wars have not helped the course of the Euro. Technically the EURUSD has been trading within a descending channel as seen on the Daily Chart. Over the past few days, price has been...

Autofx

One good thing about a ranging market is that a trader can trade at the extreme key levels which act as borders. AUDCHF has resisted further advance in price since June 20th (60 days) and during this period, price has tested the resistance level 0.6717/ 0.6740 17 times, each time failing to break above. Right now price has approached at the 0.6717/ 0.6740...

Autofx

The EURAUD has rallied the first 3 days of the week, having hit a key support level circa 1.4300 last week. On the H4, price has shown signs of strength having pushed beyond 1.4590. The current H4 candle may well close as a bullish engulfing, having found interim support at the 50% fib level if that occurs, there's a good chance that price may hit 1.4700 in the...

Autofx

Technically, the Aussie Dollar pair may dip 400 pips towards the 0.6500 handle. Earlier today price rejected the 0.7000 physiological level which doubled as a channel resistance. The Daily candle has just closed as a Railway Track bearish pattern. I highlighted the past two times we've seen this pattern recently and on both occasions price dipped at least 250...

Autofx

I am a fan of Fibonacci retracements. I’ve had this emerging setup in USDJPY as we had an impulse bearish M15 candle I anticipate a pullback to the 50/61 levels and a sign of a continuation.. If all the parameters win place, I’ll short for a 1:4 Risk:Reward trade…

Autofx

USDJPY saw a sharp 500 pip decline last week, it’s sharpest in 2022. Right now price has hit its first key support level and as expected, a bounce occurred. I will look for a long setup tomorrow for 150 pips

Autofx Updated 

Midterm, CADJPY appears to have topped out. The Weekly chart has a bearish divergence and last weeks slide looks like a bearish impulse. I prefer to sell on rallies for another 200/300 pips.

Autofx

XAUUSD (GOLD) has been moving within a descending channel as shown in the chart included. Since March, the Daily structure has remained bearish overall with brief interim bullish moves. There's a supply level which could cap price circa 1800/1813. From that level, I may begin to look for a swing short trading setup.

Autofx

The DXY has sold off over the past few trading sessions. The dominant trend remains bullish as price has been trading within a rising channel. Interim support is at 105.00 which could invite bullish action and drive price as high as 110