Rhett

Rhett Updated 

USD/CAD has touched the top of its four hour trend-line and its confirming bearish momentum targeting 1.2850 area. The pair is overbought in the 4 hour timeframe and correlates with the weakening USDX. I am entering a short position at 1.305 with a stop loss of 20 pips and a take profit of roughly 200 pips giving us a 10:1 risk to reward ratio. My stop loss is...

Rhett Updated 

EUR/USD saw a ton of buying pressure after it reach its 52 week low last month. The pair has made it through strong resistance in the 1.16 area and performed a textbook retouch of the resistance turned support. I am entering a long position at 1.1610 with a 40 pip stop loss and a take profit at 1.75, although i'm not opposed to taking the trade early. This play...

Rhett Updated 

This week we will see EURUSD retrace to the Major Resistance at the 1.55 area where it will determine its next move. Bearish Momentum away from this area will confirm a sell while a close above 1.6 means the sell is invalid. The pair is currently at an all time low so it is important to wait for confirmation. This is with the major trend and supported by...

Rhett Updated 

GBPUSD has fallen to Brexit low after the turbulent market conditions of the present have forced it below its major resistance. It has however stayed in its trending channel and after candlestick confirmation off of the bottom of its trend line we can expect to see the pair at 1.3 by the end of the week. Enter a long position now and the risk to reward ratio is...

Rhett Updated 

USDCAD has been trading within this 4 hour trading channel for some time now. After a strong push away from its resistance last week we can expect to see more downside on the pair with a target of approximately 1.29. The pair has broken out of its mini trend within this channel and retested its trend line as confirmation. A close above 1.315 will mean the short is...