FXTechs

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About me Independent FX Trader & Analyst. Posts analytical in nature only and do not constitute financial advice.
Last visit Joined 2 years ago Sydney, Australia FXTechs
Markets Allocation
100 % forex
Top Mentioned Symbols
EURUSD 63% | 19 AUDUSD 23% | 7 USDJPY 6% | 2 GBPUSD 3% | 1
FXTechs FXTechs AUDUSD, W, Short , a year ago
AUDUSD: Aussie Sees Biggest Weekly Decline Since Sep 2011
42 0 0
AUDUSD, W Short
Aussie Sees Biggest Weekly Decline Since Sep 2011

The Aussie had a rough start to the year, declining more than 4.8% against the US Dollar. This was the largest weekly decline in % terms since September 2011, when the pair declined over 6%. We are currently descending towards a triangle bottom marked by the 2015 lows - a break lower would initially target the 68 handle, marked by the 1.236 ext at .6794. Expect ...

FXTechs FXTechs GBPUSD, W, Short , a year ago
GBPUSD: Cable Finishes Week Below 2015 Lows
50 0 0
GBPUSD, W Short
Cable Finishes Week Below 2015 Lows

The Cable was killed last week as markets rattled on China fears and US Non Farm Payrolls trumped expectations. Pair finished the week below a descending triangle bottom marked by the 2015 lows and looks set to continue lower over the coming weeks. Initial target is the 1.236 extension of April - June 2015 around 1.4240, this extension coincides with the 2011 lows ...

FXTechs FXTechs USDCAD, M, Long , a year ago
USDCAD: Monthly Close Above 61.8 Targets 78.6 @ 1.4660
79 0 0
USDCAD, M Long
Monthly Close Above 61.8 Targets 78.6 @ 1.4660

USDCAD is on the warparth: December's close above the 61.8 Fib opens up the 78.6 Fib just below 1.4660. Pair has displayed incredible strength compared to other USD majors and shows no sign of stopping - momentum appears to have actually picked up in the first week of 2016. Expect a test of 1.4660 by the end of the month. The unlikely alternative, a reversal below ...

FXTechs FXTechs EURUSD, W, Short , a year ago
EURUSD: EURUSD - Weekly double top confirmed - Parity within reach
47 0 0
EURUSD, W Short
EURUSD - Weekly double top confirmed - Parity within reach

A mega NFP print Friday saw the Euro decline 186 pips / 1.71%, confirming the double top pattern that had been brewing since April. The close below 1.0828 should (finally!), open the path to the multi-year low set back in March (1.0462). If bears manage to crack this level, parity should not be too far off... this was a very large consolidation pattern indeed - ...

FXTechs FXTechs AUDUSD, 60, Short , a year ago
AUDUSD: AUDUSD Respecting Former Support - Short Below Today's Low
32 0 0
AUDUSD, 60 Short
AUDUSD Respecting Former Support - Short Below Today's Low

Trendline connecting 24th Aug low to the low on the 26th has been breached and is now acting as resistance. A sell order will be trigggered on a break below todays low with a 25 pip stop loss, 80 pip target and 20 pip intelligent trail.

FXTechs FXTechs EURUSD, 60, Short , 2 years ago
EURUSD: Momentum Topping Pattern, Gap Down Reinforces Bearish Bias
45 0 0
EURUSD, 60 Short
Momentum Topping Pattern, Gap Down Reinforces Bearish Bias

EURUSD carved a lower high on Friday as Hourly RSI respected down trend from the 9th and double topped around 60. Gap lower to start the week reinforces our bearish bias. Pair is bearish absent a breach of Friday's high/Momentum break above 60. We are moving stop to break even on short from 1.1302 as Friday's high failed below there - Risk free - Holding ...

FXTechs FXTechs EURUSD, D, Short , 2 years ago
EURUSD: EURUSD Struggling at Major Resistance Confluence
173 0 1
EURUSD, D Short
EURUSD Struggling at Major Resistance Confluence

EURUSD appears to be failing below a critical resistance zone which stretches between 1.1384 - 1.1442. 1.1384 is yesterday's high and coincides with the long term descending trendline connecting the July, September and December swing highs. 1.442 was the highest daily close in the Head and Shoulders pattern from 3 weeks ago. We have entered short at 1.1302 with ...

FXTechs FXTechs EURUSD, 240, 2 years ago
EURUSD: EURUSD - Bounces Higher Than Expected Testing Former Support
68 0 1
EURUSD, 240
EURUSD - Bounces Higher Than Expected Testing Former Support

We called for a bounce towards 1.0960 yesterday before a move lower - pair actually bounced a further 220 pips and is testing former trendline support/the area around the neckline of the H&S. Despite the higher low and serious bullish momentum - we are still looking for a fail around here. Currently Neutral looking for topping candles/signals before entering short.

FXTechs FXTechs EURUSD, 60, Short , 2 years ago
EURUSD: EURUSD Sets Low High - Next Leg Down Coming
66 0 0
EURUSD, 60 Short
EURUSD Sets Low High - Next Leg Down Coming

EURUSD Retested 1.1 overnight but failed below 1.0980 - the move was quite quick and we once again missed our entry. See another bounce towards 1.0960 before an eventual move towards the multi-lows around 1.05. Shorts above 1.0940 against 1.0980/1.1005 are valid but more conservative traders could wait for a break of the minor support trendline/overnight low ...

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: EURUSD Turns Lower From Former Trendline Support
61 1 0
EURUSD, 240 Short
EURUSD Turns Lower From Former Trendline Support

EURUSD Has turned lower from former trendline support and looks set to head lower - we are hoping for a retest of 1.1 after taking profits but may have missed out. Flat for now - Looking to short.

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: EURUSD Breaks Through Horizontal Support - Top In Place
58 0 1
EURUSD, 240 Short
EURUSD Breaks Through Horizontal Support - Top In Place

EURUSD has broken through horizontal support after a Head and Shoulders topping pattern earlier in the week. A top is now in place at 1.1450 and pair appears to have resumed it's down trend - we opened a small short position at 1.133 and added at the open. Aim is to fade into a much larger position targeting the multi-year lows, continuation. Pair has been ...

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: Head & Shoulders - Neckline Broken - Short Strength
39 0 1
EURUSD, 240 Short
Head & Shoulders - Neckline Broken - Short Strength

EURUSD has broken through the ascending neckline confirming the Head and Shoulders topping pattern. Sadly this occurred without a bounce and there was no chance to short higher. Pair appears to have stalled at horizontal support above 1.1050 and we may well get a bounce towards the (broken) ascending neckline around 1.11250. Look to sell any bounces into this ...

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: Higher High Complicates but Head & Shoulder Still Valid
33 0 0
EURUSD, 240 Short
Higher High Complicates but Head & Shoulder Still Valid

EURUSD breached 1.14 last week but appears to be a false breakout - the Head & Shoulders setup could still be valid. Look to short a lower high between 1.13 and 1.14 with a stop above 1.1465. More conservative traders would wait for a break of the ascending neckline. Break above 1.1465 invalidates.

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: Right Shoulder Carved - Looking to Short
46 0 1
EURUSD, 240 Short
Right Shoulder Carved - Looking to Short

EURUSD has put in a lower high below 1.13 and appears to have topped - Head & Shoulders. Looking to short above 1.1250 - below 1.13 or more conservative traders will wait for a break of the ascending neckline (currently 1.1147). A break above 1.14 would negate.

FXTechs FXTechs EURUSD, 240, Short , 2 years ago
EURUSD: Possible Head and Shoulders Topping Pattern
32 0 3
EURUSD, 240 Short
Possible Head and Shoulders Topping Pattern

EURUSD Appears to have topped out below 1.14, with RSI failing to confirm the high set on the 7th of May (1.1390). Bulls are attempting to carve a higher low above 1.1095 but chart pattern looks suspiciously like the start of a Head and Shoulders topping pattern. We are looking for a right shoulder around 1.13 and will short against the head if this eventuates.

FXTechs FXTechs AUDUSD, 60, Short , 2 years ago
AUDUSD: AUDUSD Testing Below Wedge Bottom
11 0 0
AUDUSD, 60 Short
AUDUSD Testing Below Wedge Bottom

AUDUSD sellers are testing the waters below the wedge bottom and looking to take out the April 21 low, 7682. A break below there would target the multi-year lows around .7550. On the other hand, a false break/trip back above the wedge top, would negate the wedge and suggest pair is actually ranging. We are short from .7756 with a breakeven plus 2 stop - ready for ...

FXTechs FXTechs AUDUSD, 60, Short , 2 years ago
AUDUSD: AUDUSD Higher Low A Little Cloudy But Shorts Still Valid
12 0 0
AUDUSD, 60 Short
AUDUSD Higher Low A Little Cloudy But Shorts Still Valid

AUDUSD Carved a higher low around .7680 which clouds our bias a little but we believe shorts are still valid against the Right Shoulder/Wedge Top/Head. We were trailed out at .7736 for 2 pips and will be looking to re-short soon.

FXTechs FXTechs AUDUSD, 30, Short , 2 years ago
AUDUSD: $AUDUSD Head & Shoulders Signals Top - Sell The Neckline
36 0 0
AUDUSD, 30 Short
$AUDUSD Head & Shoulders Signals Top - Sell The Neckline

$AUDUSD Despite gapping higher on further Chinese stimulus, bulls were unable to take out the head of a Head & Shoulders topping pattern and the neckline was broken late Monday. Pair declined steadily Tuesday on back of a dovish speech from Governor Stevens and RBA minutes. Pair is currently pulling back from the lows and traders will be looking to short the ...

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