Entry around the 55 MA around 2.0210. TP all the way up to 2.06806 possibly higher. Happy trading
A Bearish Divergence in full action on the weekly TF which have have taken down the Pound from the 180.00 area down to the 55 MA and testing the channel support near 170.00 major psychological level. It is a bit dangerous to trade against the Yen right now but the uptrend is still intact and I think there are a few Bulls waiting at this price level. A wide SL is...
AUDUSD has a new Bullish Divergence on the Weekly as well on top of a Double bottom which I traded successfully last weekly (until the Dollar crushed the Aussie again) Now I will keep an eye on this pair on the 240 which is showing a nice sideways movement from the Bullish Divergence - so a possible breakout might be near. This weeks Chinese data will imho make or...
Oil is greatly oversold on the Weekly chart and the Down trend is still intact on the Daily. I guess someone really wants Putin to feel the effect of the sanctions against Russia over Ukraine (which in my twisted mind also makes sence of the current USD Index rally record) We now have a pullback due to a Bullish Divergence on the 60 min chart and I will sell again...
The sloping uptrend on USDCHF is still intact and we have a Bearish Divergence but it is too steep (class C) so I expect this pair to continue to range on a lower time frame but also continue climbing during the week.
We have a Bearish Divergence in play at the Daily chart as well where I expect the JPY to test the 200 MA. On the weekly the Bearish Divergence will range between support and resistance levels and the uptrend in still intact. I will continue to trade this pair on a lower time fram based upon the USD Yield and Index - as well as Yen strength based upon Risk off and...
GBPUSD shows a Bullish Divergence but there will be more sideways movements before the Pound will breakout and make a bigger move to the upside. Expecting this pair to range a bit between the major support and the 22 day Moving Average
EURUSD, the Down trend is still intact, just see how the MAs are lining up but now we also have a Bullish Divergence showing with the sideways movements we want to see before a possible breakout to the upside. I will do short term trades as long as this pair continues to range between major support at the1.2505 area and the resistance at 1.2800. I will watch...
As we speak during the Asian session opening it seems that Japan is throwing in good money to keep the Dollar up there. This on top of the strong JPY data that just came out. However, I dont think that it will last come the European session (until Draghee speaks tonight which he always schedule to do after the US Fed have had their say) so I will take this one and...
We all know that the Aussie have been selling off big time lately and took another nose dive after the last NFP. There is still a lot of room to the downside on the monthly chart but right now we see a double bottom where the Aussie have pulled back in the past. It is always tricky to dare to enter pull back trades in situations like we have now with a 4 year...
This pair has been a bit choppy lately so I will watch this pair closely before entering this trade. I expect this pair to head south to the 200 MA as TP 1 and/or possibly make a fulll retracement to Fib 0.382 level as TP 2. This pair also have a Bearish Divergence on the 240 TF. Good enough R/R ratio for me. Happy trading
As the market open I will watch this pair to see if the Kiwi will manage break the 1.1147 support level (Previous resistance turned into support) which I doubt and then enter long with a profit target of previous highs around 1.1259. Roughly a 75 pip trade with a tight stop. Happy trading
Since I was so clever to go short on this one the day before the NFP I was stopped out faster than I could say w t f but now maybe one will get a 2nd go at it since we may now also have a double top shortly. This is just a short term pull back trade with the option to use it as an entry to go long again. Happy trading
Coming week is Yen week for me. The Price Movement Range on any Yen pair is awesome and offers good numbers of pips to be made across. It is however a bit tricky to trade Yen pairs across various sessions. What ever price action that may start on the Asian session can rapidly change on the European session and on the US session. Another risk to consider is that...