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About me I am looking into a break out or re-testing strategy of key support and resistance levels backed by fundamental outlooks on currencies both short term and medium term. I am focusing on the swing trades that require less management and can be checked once
Last visit Joined a year ago United Kingdom
Markets Allocation
100 % forex
Top Mentioned Symbols
NZDCAD 15% | 3 USDCAD 10% | 2 GBPUSD 10% | 2 NZDUSD 10% | 2
RichardEdwards RichardEdwards PRO GBPUSD, 60, Long , 8 months ago
GBPUSD: Trade: Long GBP/USD @ 1.4400
25 0 1
GBPUSD, 60 Long
Trade: Long GBP/USD @ 1.4400
I have opened a position on the GBP/USD @ 1.4400 with another order to open at 1.4330 with an upside target of 1.500 and a stop loss at 1.4200. Sentiment: This is a risky trade given the uncertainty of a Brexit but I think this pair is in a deep retracement. I have opted to open the trade after the last FOMC ...
RichardEdwards RichardEdwards PRO AUDNZD, D, Long , 8 months ago
AUDNZD: Trade: Buy AUD/NZD @ 1.1174
22 0 2
Trade: Buy AUD/NZD @ 1.1174
I have placed a long position in the AUD/NZD pair with the current economic data suggesting that the RBA are likely to hold rates and the RBNZ are expected to cut again this year. Sentiment: CPI from Australian remains strong and in target for the RBA. There has also been successive strong data prints with the ...
RichardEdwards RichardEdwards PRO NZDCAD, 15, Short , 9 months ago
NZDCAD: Short Order NZD/CAD @ 0.9040
9 0 1
NZDCAD, 15 Short
Short Order NZD/CAD @ 0.9040
I entered short the NZD against the CAD 0.9050 with a stop at 0.9080 and a target at 0.8880. Sentiment: The CAD remains supported with the WTI rising to highs of $38. Canada has also seen some strong data which will likely keep it supported going into this weeks rate statement. On the other hand, the Kiwi has ...
RichardEdwards RichardEdwards PRO USDCAD, D, Long , 9 months ago
USDCAD: Trade: Buy USD/CAD @ 1.3400
45 1 2
Trade: Buy USD/CAD @ 1.3400
I have bought the USD/CAD pair @ 1.3400 with an initial stop @ 1.3100 and a target of 1.4500 although I will close the trade on a daily close below 1.4000. Sentiment: The trade has been opened more on the longer term fundamentals than the shorter term sentiment given that the Fed are expected to hike this year ...
RichardEdwards RichardEdwards PRO EURUSD, 240, Short , 9 months ago
EURUSD: Short Order: EUR/USD @ 1.0915
68 0 2
EURUSD, 240 Short
Short Order: EUR/USD @ 1.0915
I have placed a sell order @ 1.0915 with a stop loss at 1.1000 and a medium term target of 1.0600. Sentiment: After todays Eurozone flash CPI Core CPI missed estimates at -0.2% and 0.7% respectively the Euro remained under pressure. This is likely to remain the case until the next ECB policy meeting on March 10th ...
RichardEdwards RichardEdwards PRO EURAUD, 15, Short , 9 months ago
EURAUD: Trade Idea: Short EUR/AUD @ 1.5270
35 0 2
EURAUD, 15 Short
Trade Idea: Short EUR/AUD @ 1.5270
I have placed a short order on EUR/AUD @ 1.5270 with a stop loss 1.5370 and a target of 1.5000. Sentiment: The sentiment around the EUR remains bearish given the possibility for more QE or other action at the next ECB meeting in 2 weeks. AUD is proving very resilient to poor data, with the poor employment report ...
RichardEdwards RichardEdwards PRO CADJPY, 60, Short , 9 months ago
CADJPY: Trade: Short CAD/JPY @ 82.00
58 1 2
CADJPY, 60 Short
Trade: Short CAD/JPY @ 82.00
I have sold the CAD against the Yen on a pull back to 82.10 - 82.30 with a stop loss at 83.00 an initial target of 79.00. Sentiment: The sentiment behind this trade is more focused towards CAD weakness than Yen strength due to Saudi Arabia and Russia only willing to freeze output at January levels and not cut. ...
RichardEdwards RichardEdwards PRO EURJPY, D, Short , 9 months ago
EURJPY: Short Order EUR/JPY @ 126.00
89 0 2
Short Order EUR/JPY @ 126.00
I will be looking at selling the Euro against the yen on a pull back to 126.00 with a stop loss at 126.80 and a target at 125.20 with a second longer term target at 120.00 Technical: The pair sold off today breaking lows last seen over 12 months ago. The price hasn't broken the support zone yet but I anticipate ...
RichardEdwards RichardEdwards PRO NZDCAD, D, Short , 9 months ago
NZDCAD: Short Order: NZD/CAD
14 0 1
Short Order: NZD/CAD
I have placed an order to short NZD/CAD @ 0.9240 which is the daily pivot point on Monday 15-02-2016. This is also in confluence with a 38.2 retracement on Friday's high to low. I will place a stop loss just above R1 @ 0.9330. My target will 0.9000 where I will look to close out half the position and let the rest ...
RichardEdwards RichardEdwards PRO EURNZD, D, Long , 10 months ago
18 0 2
Trade: Long EUR/NZD
I have entered long on the EUR/NZD @ 1.6905 with a stop loss @ 1.6680 on the daily break out of the descending trend line. At this moment I do not have a target except the last swing high of 1.8 but would consider exiting this trade when / if euro hit 1.400 against the dollar as there may be pressure on the euro at ...
RichardEdwards RichardEdwards PRO AUDUSD, D, Short , 10 months ago
AUDUSD: Trade: Short AUD/USD
46 0 1
Trade: Short AUD/USD
I have entered short on the AUD/USD @ 0.7160. Stop @ 0.7250 Take Profit at 0.7000 and then 0.6850 if the outlook suggests further downside. The retracement could not close above the trend line and back in the triangle. Fundamentally the USD is still strong so as long as it can remain supported (after the FED's ...
RichardEdwards RichardEdwards PRO GBPAUD, D, Short , 11 months ago
GBPAUD: Trade: GBP/AUD - Short Position
72 0 4
Trade: GBP/AUD - Short Position
I have entered a short position in Pound / Aussie on the daily rejection and close below the declining trend line and previous support. This trade offers good risk reward at almost 4:1 with a stop above the previous days high. My longer term bias would be too the upside and I think this is just a correction and we ...
RichardEdwards RichardEdwards PRO NZDUSD, D, Short , 11 months ago
29 1 2
NZD/USD Short Order
I have placed an order for a break of the lower rising trend line at 0.6580 (10 pips below today's low of 0.6590) in anticipation that the NZD may weaken further against the USD. I am cautious to enter the trade early as the NFP tomorrow will dictate whether we have a break or bounce off. I am trying a new strategy ...
RichardEdwards RichardEdwards PRO USDJPY, D, Short , 11 months ago
27 0 1
Basic analysis of a break out of the lower trend line. I have raised a sell order for the retest of the 119.30 area with a stop placed above today's high at 120.00. Long term target of the 111.00 area. If this position gets triggered then I will close if price closes the day back above the trend line it has broken. ...
RichardEdwards RichardEdwards PRO EURGBP, D, Short , 11 months ago
117 7 3
Considering a sell at the end of today's price action as it has tested and reject the trend line dating back to July 2013 that also coincides with a monthly resistance dating back to early 2015. Fundamentally I do not think the EUR has the power to break the trend line immediately so we may see a return to the ...
RichardEdwards RichardEdwards PRO GBPUSD, W, Long , 11 months ago
GBPUSD: Potential Long GBP/USD
145 1 4
Potential Long GBP/USD
I am considering a long term buy at 1.4700. The price is within a large rising channel that may see the price return back up to the 1.7 region which is still pretty modest when the exchange rate between 2006 - 2008 was in the region of 2.100 dollars to the pound sterling. The exchange rate has never sustained ...
RichardEdwards RichardEdwards PRO USDCAD, D, 11 months ago
115 0 5
I am currently in a short position here that I entered at 1.3884 which is the upper support line of the correction that is potentially forming, I would be surprised if the dollar has the power to push through the 1.4 handle right away. I feel this pair may retrace to the trend line dating back to May 2015. From ...
RichardEdwards RichardEdwards PRO NZDCAD, 240, Short , a year ago
NZDCAD: NZD/CAD Short Position
40 0 2
NZDCAD, 240 Short
NZD/CAD Short Position
I entered a short position at 0.9515 at a double top formation hoping that the price would return to test and break the trend line formed since 27th November 2015. It broke that price to test the upper trend line dating back to April 2015 so now I am waiting for a daily close below this trend line as confirmation ...
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