Taguspt

Taguspt Updated 

A good market opening and an excellent trading week to everyone! Markets are opening and trends are looking to resume. I can't see many differences from the trends already identified last week. While longer term plays are ongoing, here is a (hopefully) quick intraday idea for some 40 pips on EURUSD. Price action is clearly telling us the EUR will have another...

Taguspt Updated 

Will keep monitoring the price action around the ATH at 151.50 for a potential bear reversal, likely to happen this week. Now it's time to sit tight and just wait for the market to give us a clearer signal of what is going to happen given the very strong bull bias from last week.

Taguspt Updated 

EURCHF just touched and reacted strongly to the area of the support trendline coming from September 2022. Very high probability it will react strongly from here. Opened a small long position targeting first resistance area around 0.9850.

Taguspt

This multi-year resistance wont be easy to break and price is already reacting to its 2014 level. Not an ATH as it hit higher levels between 2006 and 2008, but a significant one to watch. The weekly time frame is giving us a pin bar. I went in and got out at breakeven as I am threading carefully here, but will go in again. Opening a short position that will be...

Taguspt

AUDJPY pair has been respecting a trendline since october 2022 (see weekly chart and, with this, making lower highs and lower lows on this very significant timeframe. I have opened two long-term trades: a) Target TP near daily support level at 86.18 b) Target weekly support level near 78.58 Both to be accompanied by a manual trailing SL - setting of the Stop...

Taguspt Updated 

Another JPY pair nearing a strong weekly resistance, near its 2014 levels. Not an ATH as it hit higher levels between 2006 and 2008, but a significant one to watch. It is likely that this week the daily timeframe will give us a clearer indication of where it's heading.

Taguspt

EURAUD just broke support in the upward channel it has been navigating since end of January. Considering this, the likelihood of testing 1.6150 in the coming hours and days has just increased. There is a particularly strong intermediate resistance at 1.6220. I am opening 1 trade now setting TP near 1.6160 and a second one if price action continues in favor....

Taguspt Updated 

CADCHF made a double bottom in the daily timeframe hitting a very strong weekly support level. Setup two buy positions aiming at top of first range bound price action around 0.6800 and second level range resistance at 0.6936. Monitor to see reaction to long-term trendline coming from May 2022.

Taguspt

Not only price touched the 1D longterm resistance trendline, it also reached channel resistance. High likelyhood it will come down to at least first support at 1.0873 and maybe retest channel support (see 2H chart for more clarity). It is also on the verge of creating a bearish pinbar. Opened a small short position to actively manage. If price breaks channel...

Taguspt Updated 

Given the price action inside the downward desending channel in three previous occasions after a strong bull movement across the 4H resistance, I am looking for a price retracement to that same resistance level turned support at 0.9040. I have set my take profit for 0.9053 and SL jsust above the (unconfirmed at the time of analysis) pivot in the 2H chart, 0.9078

Taguspt Updated 

FX:NZDCHF is near a very significant daily support. Wil be watching the price action around 0.55230. If there is a daily close below that level, next level to watch is the ATL of march 2020 around 0.52870.

Taguspt

EURUSD is now oscillating between a very well structured upward channel. This is the kind of pattern that tends to break to the downside, so even if price is currently touching channel support, I am not buying, as I usually would do. Moreover, there are two very significant weekly and daily resistance levels, which is exactly where price reacted from. Last but...

Taguspt Updated 

EURUSD has given us a false break above an ascending pendant, indicating potential significant further move downwards, but is currently stuck between two very significant support and resistance levels. With the current fundamentals and potential for very heavy movements given upcoming news this week, will watch and see. If the price breaks below support at...

Taguspt Updated 

I am still on the GBPCAD short trade, following its reaction to the weekly resistance around 1.6860. It recently broke the trendline support and is heading into the 4H support level around 1.6540. The next level to watch is 1.6452. I will keep the trade open unless price reverses strongly and closed resistance around 1.6700.

Taguspt Updated 

FX:USDCHF broke long term trendline support with previous touches in Jan 2015 and Jan 2021 in the weekly timeframe. It seems to be heading to a retest of that trendline (watch daily and 4H charts). If it tests and price action gives a bearish pattern in the 4H or daily, it should continue its downward trend towards 0.87560 and potentially 0.83612. If it...

Taguspt Updated 

GBPCHF is right at the very significant support level around 1.0850. I will be monitoring daily and 4H timeframes for signals of bull reversal. It is a potential 450 pips bull run in the making, repeating previous pattern up to the most significant daily resistance level around 1.1550. If a bullish pinbar or a three bar reversal pattern emerges, will go in with...

Taguspt Updated 

Pair created a bear pinbar on top of range traced back to beginning of March. Setup two trades aiming at trendline resistance coming from outside range (OSR) and a second aiming at bottom of range. In this particular case, thread carefully as last daily bar was extremely strong. Very small position, I will personally only open one small position and check back...

Taguspt

Pair approaching weekly resistance trendline near ATH. Wait for price action to confirm reversal in daily timeframe (bearish pin bar or three candle reversal). Set two long-term trades if setup is confirmed. 1st trade aiming at weekly support near 86,18 and second near another weekly and daily support near 78,58.