Price broke about descending trend line and has now moved back down for a retest. This could be a nice technical play to the upside the white box area coincides with the 38.2% fib levels.
This is pure technical trade, fundamentals not taking into consideration here guys. A break above this level could open up a test of 1.10 levels.
UJ has broken out of a descending channel with a strong move to the upside, i do believe a pullback to retest the trend would provide a better price to buy USDJPY,
RR ratio if good and we could see a pump up to 120 levels to test the highs on the Daily time frame.
Aussie has finally found a bid for longs, with a nice bounce from supply/demands levels.
The target is highlighted in the green box area which lines up nicely with descending daily trend line and the 38.2 fib levels for the daily run.
The AUD had a great run on such a low volume day with bank holidays across the world. I believe price action has now come to a position of value to short the AUD, with multiple confluence factors stacking up for me.
The information box on the chart details the confluence factors
Please take into account RBA rate decision tomorrow also.
As always, trade you own...
Idea based of technicals
Sell from the touch of the upper trend line aiming for the lower end of the channel
Looking for the 50% retrace of CD
Targets #1 1.43037
These levels will also close the gap left from election polls over the weekend.
Best of luck guys!
Based off levels and trend lines i believe gold shows opportunity to the long side. I also believe from the fundamental side, things arn't as green on the other side as they think. Not a major bullish move but i definitely see more upside to gold at the present moment to retrace previous bearish movements. I believe the shorting seen on friday was fuel for more...
I think the Aussie needs a bigger retrace before anymore bearish price action could continue after its had a pretty good fall due to trump and the dollar. Levels i think are important would be around the 75500 to 75550 then potential for slight bearish price.
I see the Aussie regaining ground overall once the election honey moon is over and trump backflips on...
The DXY is at key fib levels of .618
A potential zone for a reversal.
This is purely and idea for discussion purpose and in no way a signal. Have a plan and trade your plan. Its your own money at risk. Be smart
After a nice breakout of the long term up trend i think this could present a good sell opportunity but only after a pullback near the high of the last daily candle around the 0.76230 to 0.76287 area.
This is only an idea not advice or signals. Purely for sharing purposes only. Trade your own plan!
Gold is in a bullish trend on a bigger time frame.
- nfp is the fuel to propel gold higher on global uncertainty and maintain the bullish trend.
- this could be wave 3 of an EW (Impulse wave)
Take profits are based purely off the averages of 6 months nfp reports, purely for idea purposes!
Disclaimer: This is for the purpose of sharing ideas, not saying its...