Prabhu.Ram

Prabhu.Ram

Hello traders, This post is an update to the long call yesterday. The market seems to be responding well to the wedge pattern we discussed and is on a move upwards steadily. Those who entered long yesterday around 1.2270 can move their stop loss to break even since a return to the downside will put our bullish perspective at risk. Those who have not entered long...

Prabhu.Ram

Hello traders, This is an update from the analysis posted posted a few hours ago. The JPY is showing strength across the board and the breakout from the lower border is in sight. To see further information on entries, please refer the previous post attached below. Happy trading and happy pipping!

Prabhu.Ram

Hello traders, this update on the pair is from the previous analysis of the wedge pattern in play here. It showed a breakout to the top but has failed to continue above the 6 year highs it formed and now it is back in between the wedge. It is currently finding support at a minor trend line within the wedge. If we remain patient for it break out in either...

Prabhu.Ram

Hello traders! Today the first I am looking at is the AUD/JPY. After the easing reports from Tokyo yesterday, the Yen has surprised everyone by showing some bullish behavior. There is a very interesting set up here. The price action after breaking out of the trendline has broken back in. There is a smaller trend line that you can see here which could be used as...

Prabhu.Ram

Hello traders! Its a new week and with the market not reacting bearish to the ecb on thursday, new possibilities have arisen with the pair. There is a bullish wedge pattern which could probably be in play now. Confirmation for this, however will only be when the pair closes above the upper border of the wedge. If it so happens, we could count on a long position...

Prabhu.Ram

Hello traders, The focus pair now, is EUR/AUD. With the ECB Press conference an hour or so away, I believe that this is a great pair to trade. There seems to be a double top formation and that is clearly bearish for the pair. I have attached a video link below, which will explain my analysis in detail. I hope it helps in pocketing some pips! Aggressive entry...

Prabhu.Ram

Hello traders, We are looking at a multiple setup for a SELL call on the pair though it is against the current trend. First of all, it has moved a tremendous 800 pips on the daily time frame without a minimum retracement, on the 4 hr, it has completed the target for the rectangle pattern and there is a bearish wedge in play. Please take a look at the video...

Prabhu.Ram

Hello Traders, This is a current day analysis for the pair. The pair has hit a 0.618 Fib retracement on the long term and it is trading in a comparitively small range currently. I see a possibility to enter LONG on this pair with a very good S/L to T/P ratio. You can take a look at the video I have attached below to see further explanation for this trade call....

Prabhu.Ram

Hello traders! This is a review from yesterday, where in we are looking to go short on this pair based on the fact that it has completed the extension target at 104.39 and the set up looks great from a DiNapoli DRPO sell. It has shown the close above 105.25 and now we have to wait to see if it closes below 104.39 in which case we can look to enter short for a...

Prabhu.Ram

Hello traders! I had posted my analysis on the pair yesterday and said going short on the pair around 1.4050-1.4060 would give us a good entry for a target around 1.3850. The trade has been picked up and its playing out as expected so far. It is currently at a minor daily support around 1.3980 and I think it will pick up further momentum with the ECB policy meet...

Prabhu.Ram

Hello, Welcome to my daily analysis of forex pairs. Today I would like to focus on EUR/CAD and CAD/JPY. Given the weakness in EUR currently and the momentum in CAD, I see a good chance to trade these pairs. I have uploaded a video explaining my analysis and trade entry ideas below. There is a possibility to capture about 200 pips in EUR/CAD and about 450 pips in...