The greenback has made a very strong bullish push for the past month. As we start the new month of October, I expect the USD to retrace towards either: The the weekly trendline Previous resistance Support 93.000 ...before continuing higher (Provided positive fundamentals for USD) Things to watch out for this week (Fundamentals): OPEC Meetings...
Reasoning: Good GDP Numbers Actual: 5.5% Forecast: 4.8% Previous: 4.8% Rejection near level 1.34000 Broke and retested consolidation Box
Aggressive Sell Reasoning: Price has shown consolidation and failing to push higher after breaking the trend line (White Box) Price has formed a lower high and lower low Price broke minor structure Price rejected Level 130.000 Multiple Times
Look to go short if USD strengthens (Waiting GDP Q/Q and Unemployment claims) Enter on these confluences Test of Level 0.69000 Test and rejection of a FIB level Test of moving averages Bearish Patterns *The more confluences the better
Look to go short if USD were to strengthen (Since AUD is closely Linked to Gold, It could have a profound effect on this pair compared to others if XAU/USD were to continue lower) Here is my analysis on DXY: Short on these confluences: Retest of Pivot Zone Retest of counter-trend Line (RED) Break and Retest of Level 0.72000 Bearish Structure Retest on...
USD strength is expected to be strong based on my previous analysis on the DXY with the GDP Q/Q and Unemployment claims expected to be released later today (Beware of volatility) Price is currently testing the 1.16000 Level and may show a rejection (& Moving Higher) before going lower (Provided bullish news on USD) Look to enter short on any of these points: ...
Fundamental wise , The Greenback made a strong push with the ever-rising inflation concern. It seems that the FED is starting to feel the pressure of inflation however the situation remains uncertain as the Delta Variant is still rampant in the US. This seems to be a hopeful outlook towards a rate hike. We should we remain cautious as Final GDP q/q and...
I've noticed a head and shoulder forming on USDCAD, with rejection on Major Level 1.28000. We will have to wait and see what the reaction of price does on level 1.26000 before any decision is made.
Buy with bullish confirmation towards 0.93000 Reasoning: Multiple Test on level 0.92500 Retested MA with bullish push Trend is bullish Retested Trend line
Looking to go long GU on a bullish confirmation above level 1.37000. Reasoning: Price has formed a triple bottom in the recent past weeks showing that bears were unable to push price lower. Price has rejected trend line Recent 1st BOS Currently Testing 2nd structure (Orange Line)
Continuation sell trade from break and retest of trend line Wait on a break and retest of level 1.26500 to enter short towards level 1.25000. Wait for a good bearish confirmation before entering.
Wait for confirmation on level 129.500 for buy/sell Overall Reasoning: - Level 129.500 has shown good reactions in the past (Scroll back to see) Sell Reasoning - Trend line was broken with a strong bullish push causing a S&D imbalance which is expected to be filled and retest trendline - Overall trend is still bearish (Unless price rejects level 129.500 and...
Wait for a break and retest of level 119.500 to go short with good bearish confirmation on H1. Reasoning: Price has made a large bullish move causing imbalance of S&D. Therefore, price is expected to fill in the imbalance. Price has also rejected trendline and resistance(Blue Line) Overall trend is still bearish If trend were to turn bullish, it would have...
AUDUSD has been forming a wedge and consolidation recently I am neutral on direction however will be looking for opportunities on a break and retest of the consolidation box (White Box)
Price retested flip zone, trend-line and Level 1.27000 I'll be looking for buys on level 1.27500 Reasoning: - Overall Trend is still bullish, however we've seen a little rejection around level 1.28000-1.29000 (Watch out for signs of a reversal) - Price broke and retested level 1.27000 & Price flip zone (Blue) - Price respected trend-line - USD has shown...
I'm looking to enter for a sell on a bearish push from level 79.500 towards Major Level 78.000. Price is expected to fill in the imbalance created previously (Highlighted Yellow) I would wait for the JPY banks to open tomorrow before entering as it is a bank holiday today. Happy Trading!
High confluence sell area with multiple confirmation: - 61.8% Fib Retracement level - Previous minor flip/supply & liquidity zone (Red Zone) - Touch of bearish trend trend line - Break & Retest of counter-trend line (Watch for bearish candlestick signals) - Price has started to make lower lows and lower highs Entry: Wait for 3 or more confirmation with good...
Technical-Wise: - The DXY has made a considerable bullish move last week thus creating a imbalance. - I am expecting for USD to weaken and retest any of the blue S&R lines I've plotted on the chart. Fundamental Wise - The FOMC meeting will be held tomorrow and would largely affect prices - The general sentiment is towards hawkish as most expect a tapering to be...