Pair has broken below the ascending consolidation channel on the 4hr chart and has retested the lower channel support as resistance. Pair is in a downtrend and has just rejected the daily 21EMA - usually a good signal for price to move lower. Seem's a bit quiet at the moment. I've set an order entry below the recent lows @126.72 SL @ 127.84
Pair is now touching the upper multi year channel which started in late 2014. This will be it's sixth touch in 2 years. Every other occasion has lead to massive downside. That said, I do feel as though this channel may break soon, perhaps rebounding off 78.46 and retesting the upper channel. That remains to be seen. For now, I'm shorting, with a target of...
USDTRY has been in a nice trend for quite some time. After a sharp bullish rise the pair has pulled back a little to retest the resistance previously set in Sept-15, Jan-16 and briefly broken in July-16. This time we have strong support and a bullish Morning Star reversal signal at support. I think that there is a moderate chance that price may fall back a...
Pair is once again approaching the top of the wedge range. I expect a reversal to the lows of the range. I'll be entering this as a sell order. All of my other NZD pairs as also approaching resistance and starting to look weak, so I feel reasonably confident that price will reverse once it hits the resistance level. Good luck!
After a nice uptrend, USDJPY has run out of steam. Been watching this for days expecting another bull continuation, but as the days pass, it seems more and more likely that bears are stepping in and that price could head lower. I don't normally trade counter trend, unless the pair is range bound, and to me this could be interpreted as being at the top of the...
Another opportunity to short AUDUSD. I already took profits from the first leg down. TP at lower trendline support.
The break above resistance was only temporary. After bearish AUD news announcements this morning, price immediately headed lower forming an evening star on the 4h chart and creating what looks like a false break. There is a chance price could go higher from here. There is still some indecision, but overall it looks bearish to me, with stoch looking overbought. ...
AUDNZD is at a key level. Price had been trending strongly since mid September and some correction is due. A small pullback at key resistance 1.027 has found strong support, rejecting previous sideways and horizontal resistance levels confirming that the trend will probably continue. There may be a bit of bumpiness as we retest 1.0730 again, but if we get in...
Price has been ranging in a wedge pattern with great predictability for the past two months. Price is again at the top of the range and showing signs that a downwards move could be imminent. I think a short move is most likely. Two bearish signals have appeared at resistance and price has broken below the 4h upwards trendline. Stoch is showing overbought sell...
A perfect 4hr pinbar has formed at the top of a Fib 68% retracement level. This looks like a vert good opportunity to join the continuation of the trend.
A bullish pinbar has formed on the 4hr chart. Looks like a pullback to fib 38% level. Good upside to the top of the range at 0.7670 - 80. You could also consider an entry on a 50% retrace of the pinbar. I do find they often work, but I'm feeling more conservative at the moment so I'm entering on a break of the pinbar high.
A nice Bullish Engulfing signal has formed on 4h chart, breaking the upper short term trendline. It now looks likely that price will head higher from here. This signal compliments the previous Morning Star that appeared on the D1 chart a few days ago. Price has just bounced off the lower support line and to me, this second signal confirms that the recent...
Pair is at the top of a range that goes back 6 months now. There is a possibility that this could be a minor pullback and that price will continue higher. There is supprt a 0.9840 as well as the daily 8EMA level, which could both act as support, but given the nice rounded top showing power shift from bulls to bears, I think there is a reasonable chance that...
After a nice sell off, price has retraced back up to a previous SR level 0.9370 and looks ready to move lower again. My annoying broker ETX wouldn't allow me to place an order at my desired entry of 0.9360 so I immediately lost 10 pips {angry}. Anyway, still looking good for a decent profit. TP1 0.9300 TP2 0.9280 Possibly more....
I'm starting to see rejection of the upper channel. The 4hr candle looks like it will probably close above the historical high of 0.88, which will mean we need to watch to see if the level holds now as new support. I will be looking for signs of correction soon. Target 0.8700
A nice bearish pinbar has appeared on the 4hr charts suggesting a reversal. Entered on a slight pullback to giving me an improved R/R. Stoch is also giving a SELL signal. Daily
Price is stalling after a very powerful upmove on EURNZD this week. Bull's look as though they could be running out of steam and price could retrace back to around 1.5550 - 1.5500 area. There is bearish divergence signifying a possible top for now. SELL on a retest of 1.5650