RehgalFx

PRO
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About me "You don't set out to build a wall. You don't say 'I'm going to build the biggest, baddest, greatest wall that's ever been built.' You say, 'I'm going to lay this brick as perfectly as a brick can be laid. Do that everyday and soon you have a wall. ~W.S.
Joined United States RehgalFx
Markets Allocation
100 % forex
Top Mentioned Symbols
EURUSD 41% | 5 NZDUSD 16% | 2 USDJPY 16% | 2 GBPUSD 8% | 1
RehgalFx RehgalFx PRO EURUSD, 240, Long ,
EURUSD: Euro Different Perspective
202 0 2
EURUSD, 240 Long
Euro Different Perspective

First off this is a short term view. How accurate it is could get demolished by US retail sales or Greek news etc. I keep hearing the mention of a Head n Shoulders pattern. First off, it never followed through to the neckline. Could it still be in play? Of course, charts are rarely perfect. Second, there could easily be a channel in place. They are broken and ...

RehgalFx RehgalFx PRO USDJPY, 120, Short ,
USDJPY: Watching for Rejection
39 0 1
USDJPY, 120 Short
Watching for Rejection

Slow morning grind. Possible rejection at trendline.

RehgalFx RehgalFx PRO AUDJPY, D, Short ,
AUDJPY: A little flag action
42 0 0
AUDJPY, D Short
A little flag action

Plenty of room for the pair to fall. Flag has completed and the move lower should run into previous support. Currently short from 96.80

RehgalFx RehgalFx PRO USDCHF, 60,
USDCHF: Inversion of Euro
18 0 1
USDCHF, 60
Inversion of Euro

The Swissy is keeping its form as an almost perfect inversion of the Euro. Following the same consolidation pattern after hitting highs at 1.020, the CHF retreated. The dollar index is still below resistance 92.50 sitting around 92.30. My take is the dollar is going to need a push to break higher. Data over the next 2 days should do the trick if better than expected.

RehgalFx RehgalFx PRO EURUSD, 60,
EURUSD: Consolidation: Another move up or break down
39 2 2
EURUSD, 60
Consolidation: Another move up or break down

Euro has been following a triangle pattern. Without major data for a push, until tomorrow, it could continue to consolidate into the Court ruling or US retail sales data. Currently watching for the break lower to support at 1.1750 area or a bounce back to 1.1850 around triangle resistance.

RehgalFx RehgalFx PRO GBPUSD, M,
GBPUSD: Pound Thoughts
49 0 1
GBPUSD, M
Pound Thoughts

Good data just out. Weak movement. Possible hangover from FOMC and packed up for the holidays. The pair may continue a consolidation while grinding slowly lower, spike down when the Fed raises rates and then bounce to break its downtrend. The approach to previous lows is slowing down, displaying caution in the price action but one more drop is not out of the cards ...

RehgalFx RehgalFx PRO EURUSD, M,
EURUSD: Euro Thoughts
42 0 1
EURUSD, M
Euro Thoughts

The approach to bottom trend has me really thinking we're heading lower. Price has yet to spike higher like previously. I'll be paying close attention to how price continues to act around this level.

RehgalFx RehgalFx PRO NZDUSD, 240,
NZDUSD: Broken Flag has potential
13 0 0
NZDUSD, 240
Broken Flag has potential

If there is a push up, which I have a small long position in, I'll be looking to re-enter a short at channel resistance. I'll be watching price action closely just in case of the whiplash we've experienced recently.

RehgalFx RehgalFx PRO EURUSD, 1,
EURUSD: Why I went Long Euro (short term)
142 1 3
EURUSD, 1
Why I went Long Euro (short term)

Euro was dropping like a brick but starting slowing down around the 1.2375 area. It just kept making lower lows but slowly, so I dropped down to a 1min to see the price action. The chart pretty much explains my thoughts. I did not base the trade on just one aspect, but the whole picture. My target was just to pick up 15-20 pips so it worked out.

RehgalFx RehgalFx PRO USDJPY, 240,
USDJPY: Mid trend broken yesterday
23 0 0
USDJPY, 240
Mid trend broken yesterday

Watching the Yen. It's hanging in just above the 61.8 and psych level 119.00. The previous trendline comes in around 117.20 which would be a complete pullback to past swing low support. I think this could be a reasonable expectation leading into some consolidation before the dollar continues higher. I would prefer to see a move above the broken midline before ...

RehgalFx RehgalFx PRO NZDUSD, D,
NZDUSD: Waiting on RBNZ
11 0 0
NZDUSD, D
Waiting on RBNZ

Buying looks like the right direction, but not jumping in until after the RBNZ meets today. Kind of expecting a pullback to test lower channel support. I'll be watching for a bounce to go long. A break below could see new lows headed towards the 1.618 (0.7510) which is also a previous weekly/monthly support area.

RehgalFx RehgalFx PRO EURUSD, D,
EURUSD: Possible reversal in the works?
55 0 0
EURUSD, D
Possible reversal in the works?

After bouncing off the 1.618 extension yesterday, a higher euro may be in the works. It will be interesting to see if channel resistance can contain the pair or if we're heading into some consolidation until more data decides a clear direction. RSI also shows divergence which I never put much thought into, but it's there for those that do.

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