We have a long-term weekly EUR/USD double bottom on the horizon. Although it’s more than a 100 pips off, it never hurts to be prepared: COVID-19 Double Bottom, 1.0635-37 Here's the trade: 1) Buy 1.0655 2) Initial Stop Loss @ 1.0594 3) 1:1 Risk vs Reward, Profit Target @ 1.0716
A key resistance level is in view for the EUR/USD: Weekly 38% Fibonacci Retracement, 1.0920 Here's the trade: 1) Sell 1.0914 2) Stop Loss @ 1.0954 3) Profit target @ 1.0874, 1:1 risk vs reward
We have two consecutive inside weekly bars on the AUD/JPY. This is a signal of strong compression and a potential signal of a bullish breakout. Here are the key levels to watch to the topside: Big Round Number, 94.000 Weekly Spike High, 94.319 Big Round Number, 95.000 To play this breakout, you can either buy above 94.000 or wait and buy from above the Spike...
There is one pair that has made a move over the past 12 hours: the USD/JPY. The bullish break may set up an early-week pullback buy. Here's the trade: 1) Buy just above the 4-hour 62% Retracement @ 126.21 2) Initial stop loss @ 125.74 3) Profit target @ 126.69, 1:1 risk vs reward This is a trend-following play from the 126.00 area. It will remain valid as long...
NATGAS has been on a tear lately, up more than 40% in the past two weeks. As a result, we have seen a hard test of the 7.000 handle. Here's a possible breakout scalp for NATGAS: 1) Buy 7.026 2) Initial Stop Loss 6.999 3) Profit Target 7.053, 1:1 risk vs reward
GOLD has been one of the market’s big stories today, breaking out above the 1959.0 level. However, the bidding quickly subsided and prices are back near 1950.0. There is a nice wave set up on the 30-minute GOLD chart and a possible selling opportunity: Weekly 38% Retracement, 1959.67 30-Minute 78% Retracement, 1960.76 Here's the trade, good until the end of the...
The EUR/USD is working on its seventh consecutive losing session. Is there any way this trend turns around? Right now, it’s too early to tell. One thing we do know is that March’s low is coming into view and the EUR/USD is trading at March 2020 levels. Key levels to watch for the trending EUR/USD: Support (1): March’s Low, 1.0805 Support (2): Big-Round-Number,...
Here is the TWTR GAP to watch: GAP: $46.86 - $40.96 Here’s the trade: 1) Sell at market from $51.00-$52.00 2) Initial stop loss at $57.75 3) Profit target at $44.75, just above the Daily 62% retracement This afternoon’s FOMC Minutes may have a tremendous impact on the markets. Be sure to keep an eye out for major volatility as this news release comes online.
Significant moves in USOIL (+4.04%) and NATGAS (+1.27%) have headlined the Monday session. For USOIL, we have a key long-term level in play: Resistance: 38% Monthly Retracement, $103.84 Here's the trade: 1) Sell $103.79 2) Initial Stop loss at $104.26 3) Profit Target at $103.32, 1:1 risk vs reward ratio
At press time, the US100 is lagging. Here are a few support levels to watch as we roll deeper into the session: Support: Daily 62% Retracement, 14754 Support: Daily EMA, 14628 Support: Daily 78% Retracement, 14612 Here's the trade: 1) Buy 14655 2) Initial Stop loss at 14494 3) 1:2 risk vs reward, profit target at 14977
We have a possible breakout scalp brewing in May WTI futures… Here’s the key level to watch: May WTI futures Intraday High, 108.75 Playing a retail washout above this level isn’t a bad mid-week trade. A buy from 108.76 should be worth a fast 5-8 ticks on a swift breakout. A tight stop loss of 8 ticks is recommended here.
BTC is trading at 47,600 and moving higher. Here are two levels on my radar: Monthly 50% Retracement, $50,975 Monthly 38% Retracement, $46,721 Moving deeper into today’s session, I’ll be looking for price exhaustion beneath that 38% level. Here's the trade: 1) Wait for a 4-hour bar close beneath $46,721 2) Enter a short beneath $46,721 3) Initial stop above the...
Finally, the USD/CAD has broken out. If we see the 1.2500 big-round-number give way, a buying opportunity may set up nicely. Here it is: 1) Buy 1.2459 2) Stop loss at 1.2419 3) Profit target at 1.2499, 1:1 risk vs reward
For now, let’s check out a key level for USOIL: Daily 62% Fibonacci Retracement, $115.74 This isn’t a bad area for a short-term sell. Here it is: 1) A sell order from $115.69 2) Initial stop loss at $116.09 3) Profit Target at 40 pips on a 1:1 risk vs reward
It’s been a whipsaw day on the markets, with US stocks trading mixed. At the midpoint of the session, the DJIA, S&P 500, and NASDAQ are all hovering near flat. For the US100, prices are trading near one key levels: Weekly 62% Retracement, 14,375 A late-day sell from current levels may be a good way to play the action. Here's the trade: 1) Short at market from...
It’s been a whipsaw morning on Wall Street, let by a 1% gain in the NASDAQ and negative action in the DJIA. For the US30, we have seen two key technical levels come into play: Weekly EMA, 34,377 Weekly 62% Retracement, 34,491 A bullish breakout above 34,500 is possible as the weekly high is 34,504. Here is the trade: 1) Buy from 34,505 2) Stop loss at 34,489 3)...
Fed this evening expected to hike rates by at least 25 basis point leading to dollar strength and euro weakness as a direct result. Expect EU sell-off looking for approximate previous low retest.
For the DXY, there are two levels worth noting: Weekly 38% Retracement, 97.787 Monthly 62% Retracement, 97.701 If we see the DXY extend today's losses, this zone may set up as robust support. Here's a potential trade: 1) Buy market anywhere between 97.790 to 97.695 2) Initial stop loss at 96.994 3) 1:2 Risk Vs. Reward The convergence of intermediate and...