About meForex Positive develops a unique proprietary trading strategy to trade the forex market. This system is “Pro Positive Toolbox (PPT)”. PPT aims to make profits based on 2 aspects of trading. First aspect, it is a technical system, using price charts to ma
Wait for USDCAD to pullback further down to the green zone before entering long. Prices have turned here multiple times in the past. USDCAD might do the same u-turning again if it touches the green zone.
Long USDCAD 1.2840-60
SL below 1.2750
1.1200-20 in EURUSD is a critical support/resistance zone. This price level is already tested multiple times. If EURUSD retraces to this blue zone, look to enter a long position.
Long EURUSD 1.1200-20
SL below 1.1100
Confluence of 2 technical support signals at 0.7330-50. Looks like a strong level of for a bounce up.
a) support/resistance zone at 0.7330-50 (as shown in green rectangle)
b) bullish gartley 78.6% FIB completion around 0.7350
Long CADCHF 0.7330-50
Possible resistance area in GBPUSD around 1.4060-80. Downtrend in GBPUSD is strong due to Brexit worries. Any rallies to be sold into.
Short GBPUSD 1.4060-80
SL above 1.4150
Former support turned into resistance zone, tested about 5 times before breaking lower. If GBPCAD rallies to this red zone, look to short.
Short GBPCAD 1.9870-80
Short EURUSD around the 50% FIB retracement and prior support/resistance zone. Take profit at the green zone
Short EURUSD 1.1100-10
Some numbers on this inverse head & shoulders (H&S).
a) tip of head is at 0.6950
b) neckline is 0.7500
c) total height of inverse H&S is thus about 550 pips
d) the projected price target for the completion of the pattern is at 0.8050.
EURGBP has not broken decisively above the neckline (in blue zone). As such, if there is a pullback towards 0.7400 support zone,...
After the massive short squeeze in EURUSD on thursday, when ECB decided to disappoint the market without introducing stronger QE. On the short term technical level, there could be another final wave of short squeeze to 1.1100. The 1.1100 blue zone represents a significant price level. It is a strong support/resistance for the whole of year 2015 since Jan.