EURUSD appears to be in a clear uptrend. Given the current climate and news in the US EURUSD could be headed back towards the resistance level once tested in 2018. Whether or not this level will be broken will remain a mystery, however we can clearly see the break into this previous zone, followed by a small sell off. Price will be pushed back into this zone, as...
EURUSD retested a major support level in late 2019 and bounced. This bounce did not reverse the down trend. This level is from 2017 and is very important. If this breaks, price will began to trade within the lower channel from 2017 (which is about 300 pips below its current level). -StampsFX
AAPL broke structure and headed into a deep downtrend. Bulls may see this as an opportunity to push the market higher, however this push will be overtaken by an overall market slope.
DJI is in a clear downtrend. The market formed a double top, broke the neckline of current formation, and completed its first bounce. After the bounce, which I suspect is almost over, the market will continue its' downtrend.
AUDNZD broke a key support level AND a key resistance level. Looks to be continuing the downtrend. The pair is up on the day. Waiting until the pair hits the previous resistance level to determine if it will be rejected or break through. If rejected, SL will be above resistance and slightly above trend line, and a move to the support level will be in...
Everyone is in debate about whether EURUSD is going to go up or fall. Many think it will fail, while contrarians such as myself, feel the shorts may get trapped. Only time will tell. The US Markets are in a slump and the government shut down is making the dollar loose a lot of steam.
EURUSD may take a nose dive, but we are all on the sidelines waiting for...
Everyone is speculating EURUSD will take a nose dive. While this may be true, the US Markets are due for a slight pullback before heading lower. This could cause EURUSD to spike temporarily before heading lower. The weekly chart shows a failed head and shoulders pattern, with is a bullish sign. I too believe this pair will continue to fall, however I think it may...
EURUSD appears to be reversing its bearish trend, however it has not yet violated the bearish channel. For these situations I find it best to trade within the channel in case it does not experience a bullish breakout. The entry is set low (expecting pullback) and the SL is set tight. The SL is below the lower trend line. -StampsFX
JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and...
Trending down USDCHF. If the trend maintains its structure, we may see a small bounce followed by a heavy downtrend. Since price is at the lower trend/channel I am looking for a sell entry closer to the upper channel/trend to ride it back down.