The long wicks of the candle after making new highs suggests the losing interest near 110 levels. Prefer selling USDJPY at rallies for quick 20 to 30 pips and long term traders can stay short this pair. Target 107-108 for long term traders.
Based on price action, we will start buying both EURUSD and GBPUSD in small quantities from current market price of 1.1788 and 1.3817 respectively. This is fresh buying for Long term targeting 100-200 pips.
AUDNZD looks really beaten amidst all the volatility in the last 2 weeks. Its sharp rise to 1.0500 was quickly punctured with the strong NZD demand. Currently at 1.0350, we prefer not to find the trend and sell with TP below 1.0300 upto 1.0250.
As per the chart, the Fib retracement has fit perfectly in the swing which we have taken and most of the support and resistance levels are respected. Keeping that in mind, We forecast that $1769 and $1835 are key support and resistance levels respectively. If any of them breaks, Gold will trade in that direction. We will until then play the trade within the range...
The key candle in the H4 timeframe gives us a hint of strong presence of bears in CADJPY under 87.90 levels. Price action strategy applied to identify this Sell opportunity. Sell at the market price 87.70 until 87.90. Target 50 to 75 pips on this trade.
Seeing the pattern of GBPUSD in the last few days, we are long this pair entering at current market levels targeting 1.3900. The whipsaw movements confirms the volatility and liquidity present in this pair to drive this currency pair higher.
Its a good risk reward trade for AUDCHF buying near 0.6625/35 levels and gaining 50 to 75 pips on this trade. Notice the support levels near 0.6640.
Anticipation of the Golden cross(Crossover of 10 moving average over 20 moving average) occuring on the daily chart. This setup convinces us to go long on this pair and we have a bias to BUY this pair above 129.50 with the view that it will cross 130.00 and beyond.
Based on the monthly and daily charts, EURNZD has produced a trade opportunity above 1.69 handle.The price currently is at 1.6942. We expect the price to touch 20 SMA which is around 1.73 handle after taking support from fib retracement on the 5 year price swing.
After constructing the Pitchfork on EURUSD weekly chart, the direction probability is in the uptrend. Though we will wait for EURUSD to overcome 1.1760 and trade above 1.1775, there is a high probability for the price to go beyond 1.20 big figure if the pair moves according to our analysis
Trading above the psychological level of 1.8900 and going with the trend, we have a bias bias to BUY this cross between 1.8900/25. Target potential is 1.90 big figure and probably 1.9025 to 50.
Our earlier trade idea on GBPCAD hit the target and we are going on for second one. GBPCAD is in the rectangle zone and we are going long this pair again above 1.7400. Considering these are crosses, dont open big size positions rather let the trade run for a 75 pips to 100 pips gain.
Downward momentum is stalling and GBPCHF can go back above 1.2525 at the close of the week. Good opportunity to go Long below 1.25 levels. Target 35-50 pips.
GBPUSD has approached a very important fib level near 1.3634. This is a case of catching falling knives but this trade is a very good risk reward opportunity for 75 to 100 pips gain. BUY near 1.3650 levels.
There are 3 bullish candle wicks on H1 EURGBP pair which is looking to follow the bullish movement of EURUSD. EURUSD gained almost 100 pips from 1.1770 and EURGBP is looking to replicate that move. Stay long above 0.8505 for target of 75-100 pips from the entry.
EURJPY has been looking extremely weak and inactive on the LeaderBoard feature in the Currency Heatwave app. This combined with 10 and 20 moving average have prompted us to sell this pair. The first fibonacci resistance is on 129.95. If the pair trades above 130.10, we will stop the trade in loss and re enter SELL at 130.45. Current price at 129.77.
The H4 charts show that the pair is in strong uptrend. Entry price should be 1.8857. Target 1.90 Big figure
This pair is trading at 1.4680 for now. A tight range has developed for this pair in last 8 H4 sessions between 1.4650 and 1.4690. If the range is broken, there will be a breakout. Our bias is BUY near 1.4660/75 levels for a 100 pips gain target.