CadJpy is facing a resistance trendline and is still currently in a monthly bear trend. However other XXXJPY pairs look to be reversing into a bullish trend. I will open a short position here and close it for a moderate target since cadjpy could be reversing line other XXXJPY pairs. Will be looking for target at 77.0
We have just broken a 2 month trendline and I am hopping in this Short position. Currently both AUD and NZD are both strong currencies but I'm hoping that this break of trendline shows the next longterm cycle. this trade could bust for -35 pips or it go down pretty hard. Goodluck trading
Hey guys, EURJPY is breaking out to the downside. We have a series of lower highs on the 4 hour time frame and a potential AB-CD pattern. Will be taking this trade, 150 pips potential with 50 pip stop loss.
CADJPY is in very bearish territory facing a triple top near resistance trendline. I was expecting cadjpy to breakout to the upside like usdjpy but it did not. With this lower break which just happened. I am confortable to enter a larger than normal trade for selling it. I am expecting good pips on this trade.
nzdusd has been in this bearish channel for a while. On the daily timeframe yesterday, price action closed as a green doji. This trade is considerably risky but I am betting for a retracement for nzdusd. Current price is near monthly trend line as well.
On the Daily time frame, NZD has broken below trendline and we are expecting NzdCad to go down over the long term. For this trade, we are selling a retracement back into .95 area. Our take profits will be at last support near 0.93 ; stoplosses should be above last high of .959
Last Friday, I entered a short on usdcad at 1.323 as it hit my 1.272 fibbonnaci from Point 1 to Point 2 (last high from 1.276 to 1.314) We also have a double top and potentially a triple top in this zone. With the fed rate hike decision this week, we are either going to go back down to hit bottom of trendline or we ...
taking a bullish view of gbpusd as it has recently made 2 higher highs and broke downward trendline. With the fed rate decision coming soon, I believe all XXX/USD pairs will rally higher but right now gbpusd has good technicals to get in today
Re-shorted USD/CAD from wedge breakout. With U.S rates possibly on hold till December, this currency should break down to the lows of 1.25. I have added a position for a long term short until interest rates are raised. Trailing profits as it continues with the downward trend.
Trend continuation possibility with eurusd going down this week. We have tested 1.12 last week and was unable to break higher. On Friday, we had a strong rejection with a long wick indication of bears selling eurusd. I am a seller of eurusd until daily breakout occurs.