ForexStoreau

ForexStoreau

Potential BUY from support at 108.70 with the first target of 111.00 Stop loss below the triangular pattern.

ForexStoreau

GBPJPY has potentially formed an inverted head and shoulders pattern. Stop loss set below 142.00 targeting 125.60 for a take profit

ForexStoreau Updated 

Potential BAT Pattern X-A – completed A-B – between 38.2 and 50% FIB – Correct the pair finished at 50% B-C – Between 38.2 and 88.6% - Correct the pair finished at 88% C – Has finished below A X-A-B-C Pattern Completed Potential SELL down to 127% Fib at roughly 109.10-109.30

ForexStoreau

Double bottom on the AUDUSD The pair are trading between a descending wedge pattern signalling a reversal. The 4 hour candles are signalling a bullish divergence on the RSI Watch for the break out Buy positions with stop losses below 0.6960 first target of 0.7100 and 0.7200 in extension

ForexStoreau

CADJPY has hit a double bottom on key support at 81.70 There is also a possible bullish divergence on the RSI. Long positions with a target of 82.50 and a stop loss below the support 81.50

ForexStoreau

GBPAUD is approaching the daily 200 MA at roughly 1.8040/1.8060 - This is also the 50% FIB retracement. The pair are in a descending wedge pattern which is indicating a reversal, the RSI has also formed a descending wedge. Entry for a buy at 1.8060 with a stop loss below the moving average at 1.7980 Target area of 1.8500 which is the 78% FIB Potentially 400-500...

ForexStoreau

The NASDAQ is in a huge 'Ascending Wedge' similar to the one back in OCT 2018 You can see the RSI is capped in a negative trend, similar to Oct 2018 FIB retracement is suggesting 7300 for a target area Also a TRIPLE TOP on the daily candles. Stop loss above the resistance level of 7700.

ForexStoreau

AUDJPY has been trading between a nice range since early January. Potential SELL from 79.50 with stop loss set above 80.00 First Take Profit set at 78.50. The pair are also trading between an Ascending Wedge Pattern, this indicates a potential reversal

ForexStoreau

The AUDUSD is approaching a key level in a 14 month negative trend. With the RBA announcing their interest statement tomorrow, we are expecting a dovish stance. Entry 0.7130 SELL with stop loss above resistance of 0.7168 Take profit set at 0.7060 and then 0.7020 in extension.

ForexStoreau

The ASX has created a head and shoulders pattern and is capped by a negative trend line. This provides opportunity to sell with a stop loss above 6210 and the target area of 6140.

ForexStoreau

One of my favourite tools is wedge patterns. Last year the AUDUSD was a dream to trade using the wedge pattern. An 'ascending wedge' pattern approaching a level of resistance indicates a sell opportunity is coming up (reversal). To trade the pattern you will wait for a break below the wedge line before selling, with stop losses above the highest level in the...

ForexStoreau

GOLD has dropped down to major support on an inclining channel. This provides opportunity to BUY back up to 1324. Stop loss set below support at 1305. Stoch RSI is signalling further upside

ForexStoreau

The NZDUSD has been trading between a pennant formation since December 2018. The pair have now touched the bottom area of the pennant due to a negative Interest rate statement from the RBNZ. This provides opportunity to BUY back up towards 0.6920.

ForexStoreau

The AUDCAD is currently trading between an ascending wedge which is a reversal signal into a sell. Traders can look for sell positions (entry orders) from the top level of resistance at roughly 0.9577 to get a better entry. Stop losses set above the resistance level. Over a longer term view you can see resistance at 0.9577 will also be the cap of the negative trend line.

ForexStoreau

AUDUSD is capped in a 14 month negative trend It has just reached resistance due to strong unemployment data, however RBA are possibly looking at an interest rate cut this year. SELL down to 0.7070, stop loss above 0.7170

ForexStoreau

Fundamentals • Investors are focused on the Fed to see whether the central bank will affirm its commitment to “patient” monetary policy and for clues about the likely path of U.S. borrowing costs. • We have numerous announcements coming from the FED tomorrow morning at 5am (AEDT), we are expecting interest rates to be kept on hold, however the ‘Dot Plot’ could...

ForexStoreau

AUDCAD is at major resistance Stop loss set above 0.9490 First level of take profit is at 0.9420 Stoch RSI signalling further downside

ForexStoreau

Ascending WEDGE pattern on the USDCHF - Sell signal DOUBLE TOP on the daily candles - Sell signal SELL preference down to bottom of the wedge, we are then waiting for a break below the wedge to SELL the break out. First target of 0.9980 - Nearly 100 PIPS . Stop loss above the resistance at 1.0125