Eurgbp gapped up this morning and is now hovering around the top of a descending channel that also lines up with the 50% fib of last move after a few rejections. if we stay below the 50 on a 4 hour candle close that will present a short opportunity down to test the longterm 50% Fibonacci from the brexit rally at 0.84160
We are in a quite important time for gold at the moment, My view on the commodity is bearish longterm down to potentially 840.00. That said Gold is currently showing another short term selling opportunity opportunity. After breaking 1200 last week (which I called in a previous previous gold post) we are currently retracing slightly back up to that level once more....
GBPUSD is currently showing some bullish potential however it is not completely out of the woods yet. There are setups on both the long and short side with this pair where I will be waiting for levels to be taken out to show a clearer trade either side. LONG: Market has just popped its head above a descending channel after rejecting the 61.8 fib of the upward...
After a couple of weeks of selling for the Aussie I still think we are destined for the downside once again. if the market can come up to the kill zone around 0.74800 where there is significant Fibonacci confluence it will present an optimal opportunity to get short with an excellent risk reward. ill be looking for multiple rejections or double top or something in...
good short opportunity again presenting itself on the euro. a lower close candle after several rejections now of the 38.2 fib as mentioned on my last post on this pair. extended targets could provide an even more lucrative trade
gold is currently presenting a decent shorting opportunity. it is showing multiple rejections of the 38.2 fib and is currently being capped by the 50 ma on the 2 hour. A strong close back below the 38.2 and we could see a continuation lower to the 1.27 fib extension which also lines up with weekly support. targets at 1194.63 area
i am currently short on usdcad after breaching, retesting and closing below the retest with a bearish engulfing. price has since retreated to retest a key level so we will see how this goes. expected strong Canadian data out later today also was part of my thinking for this trade so we will see how this goes.
Euro rally looks like it is loosing steam and has presented a possible short opportunity on 2hour in the form of a flag pattern. if we reject the 38.2 fib once again it could present an opportunity to to short the market back down to lows with a roughly 1.1.6 RR. you could look for conventional extended targets for this pattern but i am looking for a quick in and...
NZD/USD IS displaying a large head and shoulders pattern on the daily chart. This trade at the moment is presenting an excellent risk reward of 1:4.5 should the market retrace slightly back to structure after selling off at the end of Friday. if market does not retrace and continues lower a strong 4 hour close below 0.70005 will also present an opportunity with...
After a bearish week previously I am looking for additional trades short after profiting from the initial break of the inside trend line. A little retracement up to 1.2400 area could provide an optimal short opportunity with targets down at 1.2500 with a 2:1 risk reward. if market does not retrace, a strong close below 1.23113 will also provide a decent shorting...
As posted in a previous post I am expecting GBP/USD to make new lows with a break of 1.28000. An opportunity is now forming on the hourly to try and hop on the trend a bit earlier with a break of a counter trend line. The 1.3000 level has been rejected 3 times now and a breakout retest continuation of the counter trend line could send us lower. Targets would be at...
a break below 1.2800 will lead us down to 1.25750
possible bearish continuation on the cards with a strong break and close below 78.799. first targets will be down at 77.000 then 74.000. if your also using MA's i will also be waiting for a cross to the downside as well for extra confirmation.
following a break and close below a near term trend line A close below 0.97790 on the 4 hour chart could lead us down to 0.96800.
Aussie/Dollar just broke a counter trend line and has retested. A continuation via a break below 0.73051 will lead us lower. first targets at resistance level at 0.71450 and then onwards to 0.7000.
AUD/JPY just recently again broke above and has retested a downward trend line it has created and been under for a while. A break and close above 78.550 will see us re test the next point on the trend line at 80.00.
USD/CHF has been trading within a small range for the last couple of days as it struggled to breach the countertrend line. however even though it is still within that range it has again closed below and retested the trend line and is looking like it is picking up some downward momentum with a strong bearish engulfing on the daily chart. a breach of 0.95910 would...
A break of the counter trend line that has formed on AUD/USD could lead to a downside continuation to make new lows. The move also has the possibility to offer a decent risk reward as well. Targets would be 0.71571 and then on to 0.69609 . Could this be a look into the future for this market ahead of the FOMC tomorrow? Only time will tell.