In this video, we take a look at AUDCHF and our current position.
We nearly got stopped but the price reversed from the key resistance and continued lower.
Now we are heading towards targets we need to look to manage the trade.
GBPUSD has recently broken through the key resistance of 1.3000. The GBP remains the strongest
currency and it really shows compared to the weak USD. If the price holds above this key level
we can anticipate further upside towards the next resistance of 1.3200. Look for long opportunities
The recent USD breakdown could cause the price of the EURUSD to continue to the key
1.1200 resistance. We spoke recently of a long opportunity from the 1.1100 area in line
with our simple forex strategy. Now price is back at the resistance we need to wait for a
confirmed break above before looking for short-term long opportunities.
In this video update, we take a look at the USD and how the recent weakness is affecting
other markets. We also talk of using the strategy more recently on the Dow Jones and how it
would have played out in your trading.
The USDCHF price continues to reject the key resistance zone and the parity level.
If the daily chart can form a bearish candle here we could look for short opportunities
to the range support. Alternatively look for a 4hr lower low, lower close candle
for short entries in line with our reversal strategy.
In this video update, we take a look at some key charts to watch for the week ahead.
GOLD is our main priority for long opportunities as the seasonal pattern suggests which
could lead to more of a risk-off environment.
GBPUSD could continue to move higher if the price retraces back to the 1.2900 support zone.
Looking at the 4hr timeframe the price has formed a new higher high suggesting the trend will
continue to move higher. If the price retraces look for a long opportunity on the hourly timeframe
if the price finds support and RSI goes into an oversold condition.
CADJPY has recently re-tested the 50% fib of the recent weekly impulse and found support.
The Canadian dollar could gain strength after the recent Bank of Canada's decision to hold rates.
The price is currently forming a bullish breakout pattern and if the price re-tests the support we could
look for long opportunities.
USDCHF price is currently back at the daily range highs where the price could find resistance.
Looking to the 4hr timeframe we can see the price forming a double top pattern and if the
price breaks through the lows of the pattern we expect to see a move lower.
In this video update, we take a quick look at what our bias is for the week ahead and where
we should be focusing some attention.
The AUDUSD is approaching the key current monthly lows and if the price breaks and closes
below we can look to continue to short the currency pair as the trade deal continues to break
down between the US and China.
Gold is dropping back...
Bitcoin has been dropping recently and the price has broken through the October low.
If the price closes below this low we would expect to see a further decline in the price
however, the price action could suggest the price is struggling to close below the lows.
The fakeout pattern forming could see buyers re-enter the market. If the market closes
The GBPUSD price has retraced back to the key lows at 1.2900 where the price could find resistance.
Id the 4hr timeframe produces bearish price action here we could look for a short opportunity down to
the key support at 1.2800.
We must wait for bearish price action to line up with our bias if the price continues higher the trade
idea is invalid.
EURUSD has been working well within Mondays range with the price bouncing from Mondays
low earlier in the week and the price has recently just rejected the Mondays high.
This could provide a short opportunity back down to Mondays low.
USDCAD is approaching the key range highs where we could see the price find resistance.
Ideally, we would want to see the price reject the 1.3350 level and close below on the daily
the timeframe in order to look for short opportunities.
AUDCHF has re-tested the key resistance level and formed a bearish rejection.
We could expect the downtrend to continue from here.
Short the 1hr candle with stops above the highs and targets of the weekly low.