GBPUSD H4 FOMC and FED yesterday evening, no major surprises. Key notion point, denying tapering, explaining inflation and saying the economy has a long way to go are some of the factors. I feel we don't have enough momentum to break 1.40 yet, so sitting tight and waiting for rejections at 1.40 resistance would be a good time to consider shorts, even...
USDCAD H4 Found support on the previous low from 17 March 2021, no doubt due somewhat of a correction after selling off circa 80 pips in quite quick succession, interested to see if we are able to double bottom, or offer some sort of lower timeframe structure break and retest.
EURAUD H4 Similar structure here on EURAUD as we have just shown on EURJPY just using an additional trading zone. Resistance, interims S/R and also support. We trade from one zone to the other, if we break a zone, we anticipate the following zone as a new target. Good to see these zones are being carried forward from last week, just looking for double tops,...
EURJPY H4 This range here on EURJPY is crazy, and has been running for circa 3 weeks with the exception of 1 or 2 fake-outs. Monitoring this closely this week, we can trade the range from support to resistance and also resistance to support, but as soon as we break, we can trade the retest. Don't fix it if it's not broken.
XRPUSD H4 Not to say we are ready for this at the moment, but this is what I'm looking for to convince me I'm ready to position long again. Until then, no doubt, we are still in an obvious bearish trend, until it's broken, then I'll be interested.
BTCUSD H4 Nicely green for the day so far, as well as majority of the other crypto currencies, not convinced the bearish market cycle is finished though. Still evidently in a downtrend, just seen some big moves since the start of this new trading week ahead of us, some very clear change of sequencing would be required for me to personally consider longs (on a...
DXY H4 Simply waiting for a breakout of this trading range, 90,900 to 91,300 ish. Quite a significant S/R zone, seemingly bottoming out from the previous bearish H4 trend from the start of April until present date. Hopefully, a break of this range will help indicate direction for these USD*** and ***USD pairs going forward for a few swings next week.
USDCHF H4 Topped out on the intraday support/resistance price we have identified, two short entries presented, one dipped 1:1.5 and the second top test currently offering 1:1.3, we could start to see new lows being set if DXY breaks 91.00 to set new lows. Remember, we want to try and tie in as much as we can, but also wait for sensible confirmations. Pair...
EURNZD H4 This is exactly what we wanted to see when we marked this up yesterday, a bit of a correction from resistance to then break on the second attempt. This just means we shouldn't expect such a big correction after we (hopefully if) break resistance price of 1.68. Looking to break 1.68 resistance, retest as support and trade long up to 1.69700 ish....
GBPUSD H4 We obviously like to trade between our zones, right? That's how we know where we are looking to enter, where we are looking to place our stops and take profits, we can easily monitor and measure our trades on this basis, hence our strategy 'trading between the zones'. We broke our 1.39 support zone and sold off circa 75 pips before correcting, bearing...
NZDCAD H4 Little bit dangerous here as it looks like we have marginally cracked beneath support and we are trading sub 0.90. However, we are still evidently up-trending, fib pullbacks tie in nicely with our 618 support zone. And no doubt looking to the left we still have an element of support. Currently jumped in this with a small 0.3% risk, 1:5R. Should be...
GBPUSD H4 Sold off perfectly from our 1.40 handle, real sticking point resistance price. Sold off with ease down to 1.39, 100 pips without a H4 pullback. Now starting to see a bit of a correction. Need to break 1.39 support and then we could set our eyes on potential moves down to 1.38.
USDCHF H4 Not really the kind of structure we like to trade as we are moving away from our H4 trading zones, however, worth following and using as a comparative pair to determine USD bias going forward.
Missed the top entry as I've been too focussed on crypto markets today, however this circa 300 day trading range seems like it wants to see another range fill. 3425 down to 2950 could be witnessed again with a huge 1:11R potential if we push 3400 again, I'll look to grab an entry. ALERT SET!
EURUSD H4 A strong H4 break here on EU, waiting for a correction back down towards our hopefully newly found support zone, we can simply look to scout out long entries from here up to breakout high initially and then towards our 1.21 region, area of resistance and weekly key level.
EURNZD H4 We don't really have too much in terms of confluences here, simply just an intact H4 support zone, like we mentioned NZD and AUD are on fire at the moment. We really need to see some solid H4 reversal signals or a lower timeframe structure break and retest. If we can't see anything for a buy opportunity, happy to sit on the side to see if support...
EURJPY H4 Based on last weeks resistance we saw a downside gap here on EJ followed by bearish continuations pulling us all the way down to our 129.800 support price. Since, we have seen some sizeable wicks, interested to see where this H4 closes in 10 minutes. Possible second opportunity from support back up to resistance.
DXY H4 Effectively looking for an upside break of the area we have marked. With regards to fibs and market corrections, this would be a good price, or at least our maximum correction potential before seeing bullish intervention again. We will have to see what unfolds, but so far USD zones seem to be okay for the moment, which is positive.