As per my educational video I shared on my page you can see that the GBP and CAD are both generally short.
However, it is likely that the Canadian Dollar is going to find some strength this week.
That is why my outlook for the upcoming weeks shows not only bullish momentum, but then takes off in a bearish direction.
Could this be the case?...
Where are we at with GBPNZD?
What we need to look at is growing pressure on the NZD after Fridays Trump "Press Conference".
Pair that with the current GBP outlook, it could be interesting.
CoT data provided free of charge through CFTC, showing both pairs are more shorts than longs.
To conclude, I foresee the weekly uptrend breaking.
I will be...
EURJPY today and I'm going to start off by saying, yes, I'm looking for a short.
We're still in times of a global pandemic so who isn't going to be interested in a safe haven pair?
My conflict in a technical point of view is that weekly and monthly is possible looking to participate in an over extended W formation.
However, also in a down trend...
This week on AUDUSD, we can see price has broken the down trend, created a V formation in the chart and has now come up to the previous high at the 0.66670 area.
Price hasn't yet hit it's final level of fibonacci resistance at 0.786.
I will be keenly watching this pair, as well as AUDCAD and AUDJPY to see what trading opportunities...
What do you see in USDJPY?
Here what I can see is a possible break to the upside.
On the weekly chart, using fibonacci I seen that on the most recent pulse the pair is now rejecting the 0.5 retracement area and moving up again.
I expect to see it retrace again to the support area before making a break to the upside.
Two possible scenarios I see today for GBPJPY.
In both scenarios I expect to see a move to the downside.
On market opening it's likely the. pair will begin its move to the downside, given the news events this week, I don't imagine that will be the case.
Or it could continue upwards towards the upper resistance area before dropping.
Today on EURUSD, what do you see?
Here I see a continuation of a sideways market.
Monthly shows a downtrend
Weekly shows a downtrend
Daily shows continuous supply and demand areas.
It's extremely likely that this pair will ascend to the supply zone and possibly even break above it.
Please remember I am a hobby trader,...
Here we have EURGBP, what do you see?
What I see is a descending pattern, hopefully looking for a breakout this week. Will be watching the support and waiting for a break to the upside.
Monthly chart shows a wedge opening.
Weekly shows this area marked as a strong support zone but weaker as resistance
Daily shows a retrace to the 0.618 fibonacci...
Today, looking at USDCAD what do we see?
I'm looking for a bullish market. We're currently sitting on a weekly support. Uptrend showing on monthly, weekly showing us more uptrend action, allowing us to see a very compact falling wedge, daily is simply blowing out that falling wedge and I foresee bullish breakout in the next coming weeks.
In this round of AUDJPY we look at a bearish flag, rising wedge or. whatever you may call it.
I'm calling it easy money.
In my opinion the trend. has started, the wedge is broken and a sell is in play.
Will be updating during the week if required or. requested.
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This is probably as messy as my charts will get, but this is full of information regarding this pair.
So much information I have nothing more to share...
Will update and tidy up during the week
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Last week on USDCAD, I got it wrong, admittedly.
I didn't expect it to break support at 1.399, but it did! Then had the audacity to form a head and shoulders before sinking and returning up to the trend line!
Luckily, I never posted that one, but I'll admit a loss anyway.
However, we win some and lose some.
Moving on from the previous loss, I...
Here at Roo's HQ we're going to look at GBPJPY.
Last week the pair hit higher target. Now, we can see the pair begin to retrace down to the lower support level.
I'm leaving this pair on neutral because it starts as a sell then hopefully will see some buying action midweek.
Will be keeping an eye on the pair and updating the chart if required
This week on GBPAUD we see price not only nail last weeks target but also begin to climb again!
So know its started climbing, what can we expect?
Simple retrace and the re-climb! I'm going to have my sights set on the 1.985 mark but there's the chance it climbs higher or falls short.
Keeping an eye on the pair this week so hopefully will be good!...
Today looking at EURGBP we see too possible directions as always.
We currently sit at a resistance level of 0.88000
Price can push up from here
Price can retrace to 0.87 and then begin climbing from there
So what seems more likely?
Not sure. 0.87 has been a great support/resistance level on weekly, but as has 0.88.
So I'll leave you, with...
Here in EURUSD we have a couple of points that have become known!
First of all, slightly messy but we have a "W" formation showing and ending on the resistance shown at 1.099
What does this mean??
We'll likely see a downward spike, possibly even touchdown on resistance before it starts making another upward push because once it comes down, it's...
Looking at where we left off at the end of the month and the trading week! Here we have witnessed a long last week, before this weeks certain downfall!
But how far? Looking. at previous levels of support are. options are limited but the profits appear to be endless! Could we see the price plummet down to levels as low as 0.833?
I'm going to be...
Hello trading friends
As you can see by todays analysis EurCad has made it's third test of daily support in this area.
Hoping by end of play tonight it closes above we can expect to see a long take place at least until the top of the wedge, however given the strength of support at this level I am ready to react to it going above this level.