From the naked analysis above, it seems clear the confirmation of a bullish trend. I read other recommendations about shorting this pair, and although it might work , the probabilities are on the long side. You should use any retracement to increase exposure until proven otherwise. From the macro perspective, three major banks reported bearish strategies for NZD...
The market is similar to AUDNZD posted earlier. There is resistance around 0.79 , SL below 0.769 on a daily close. 6 Trading Rules : 1. Never add to a losing position . 2. Don´t be the first to buy low and sell high . 3. Think like a fundamentalist, trade like a technician . 4. Keep your analysis simple 5. Start small and increase exposure when trend is...
This market formed a false breakout , a lower high and returned below descending triangle . I favour the short side with SL @ 91 on a daily close
After 50% retracement from last bullish iimpulse , it seems EURCHF is poised for more gains. I favour longs at current levels with 1.05 target . SL below 1.022
It seems EURSEK is ready to resume downtrend after a pullback since my last trade I will enter short with SL @ 9.31 . If you can´t sleep with the SL distance, trade smaller
A month ago I posted a key supply / demand zone to explore the argument of a technical bounce in EURUSD . If we close today outside the descending channel, I´m ready to enter longs . SL below 1.062 Also the long will help to hedge my other short position just in case :
Like the Gold case , I was stopped out and price reversed again at bottom of the triangle. I try another long with SL below 1.0140 (daily close)
Last trade was stopped considering that a higher low was at 1192 and it was broken. Price has reversed again after printing another higher low at 1182 , so I consider bullish scenario intact.. I will try a new long attempt with SL below 1190 (daily close)
EURGBP could be forming a bullish gartley pattern, price is below Kumo and trend is bearish, so I´m short till 0.71 area. Stop @ 0.7280
AUDJPY is forming a lower high in a descending channel. I favour new shorts but stop distance is wide , so trade small.. More arguments support the decision : 1. Below Kumo 2. Below 200 MA 3. Below Tenkan sen line
In a clear downtrend context, the pair has formed 2 equal legs and a short term bottom is possible . I favour a retracement till 1.03 which is 100 pips from current levels Stop below 1.0150 , so R/R ratio is 2:1
Lower high for USDCAD , with a pin bar sell signal . I will enter a new short with stop above 1.2680 Also, I previously posted a bullish outlook for Gold, which indicates an inminent correction for the USD. Caution required because there´s a crowded one-side view of the US dollar vs many pairs.
Gold had a minor retracement in a bullish trend context . On Friday we had a bullish reversal , I favour new longs with stop below 1190 . The potential is 1300 area, have a good weekend !
As discussed in the crude oil post , , sterling have fundamental support for a bounce. From the technical perspective, it broke descending trendline and it´s builiding higher lows. I favour countertrend longs with adjusted stop below 1.4850 on a daily close . Comments & feedback are welcome
USDCAD rejected a bullish continuation by forming a pin bar sell signal. Supply zone around 1.28 . The overall trend is bullish but the formation invites to take a short position with SL above last bearish candle @1.2711 . Other correlations support the strategy, like the crude oil I posted yesterday :
Crude Oil has retraced 50% from the last bullish impulse (from 42 to 52 area) . It could be forming a bottom pattern and ready to move up. To confim we need daily close above 46
Let´s try an adjusted R/R position . Short at current levels, with SL @ 120.40 Target open
Several factors favour longs for GBPNZD : -Series of higher lows -Identified demand zone -Hammer candlestick -Ascending channel -Above 200 Weekly average Keep stop below 1.955, so it might not suitable for short term traders