AUDJPY is another pair that I'm closely keeping my eye on.
Although it hasn't broken the support line, there are some important signals to pay attention to: 1) double top 2) rejection from the 100 EMA and from the Fibonacci level twice 3) strong bearish candle close from Friday 4) close below 20 EMA.
Starting off with AUDUSD, a lot of AUD pairs seem to turn bearish.
Here's why I don't see a breakout to the upside on the daily chart: 1) a lower high and a rejection from the resistance 2) looking weak around the 100 EMA 3) Friday's candle close below the 20 EMA and the support line.
EURJPY is currently trying to break out of a flag pattern and close below the EMAs. Once it has closed below, it is a good place to open sell trades. The Fibonacci retracements give further confirmation.
Here is a trade idea about Gold. The current price action is showing some weakness and there are a few bearish candlestick patterns that indicate we might get a little pullback.
My first target is near previous support level at 1447 and the second one to target is near a major level of structure at 1434.
Here is a quick trade idea. If the current euro weakness against the dollar continues, then this trade should give a decent r:r ratio as well.
My initial target is near the current swing low. We could get to see a much weaker euro but this trade is rather for short-term.
EURCHF is currently consolidating near a major resistance zone. I'm looking forward to entering into a short trade after some confirmation. This trade should give a decent R:R once it meets the sell criteria.
The confirmation I'm looking for is 4-hour candle close below the 20 and 50 EMA. If the candle closed below the current support near 1.10339, that'd be an...
Hi, there is a possible short-term sell setup forming. The previous bearish engulfing indicates some weakness at the current swing high.
The first target is 0.98434. If the price hit that, you could tighten your stop loss or move it to break even and keep some of your position open for the next target which is around 0.98124.
Feel free to leave a like or comment.
After consolidating near the 1.1200 level for the past week or so, the EUR/USD made a pretty impulsive move to the upside yesterday and broke the downward sloping smaller trendline pulled from March 20 high. The 1.12000 level that was also a major short-term key resistance should now turn into key support if the price can sustainably stay above that level in the...
Today was a significant day for the USD/JPY pair as we finally broke out of the 12-day period of consolidation. It is noteworthy that the consolidation phase was very tight giving us a 30-40 pip trading range for the whole period except some attempts to push upwards and downwards. While this period wasn't the best for trading as the price action was choppy and...