Trader_97

Trader_97

Price has already broken out of the short term bullish channel and we are on our way to 50% Extension of the move which started from June 24th.The pair still has many minor support levels to clear out before continuing lower but once clears the 178.64 area , 174.80-172.60 are likely to come in play.

Trader_97

Looking to go long on Eur/Usd after completion of either 0.5% retracement and if we close below the 0.5% retracement level.I'll be looking to go try my luck by going long @ 0.618% retracement level @ 1.0724 otherwise above 1.0788 area seems like a decent opportunity as well. Targets are as follows 1) 1.0874 (2) 1.0940 (3) 1.1060. Place stops under 1.0700

Trader_97

For the past 3 months since September 16th Pound has been trading inside of this Bearish Trend Channel.Has formed a series of Tops and Bottoms but ultimately failed to breakout of the channel making this bearish trend stronger over time. It has recently managed to find some support at 1.4860 area and is currently trading around the 1.4935 mark.So here are some of...

Trader_97

For the past 3 months since September 16th Pound has been trading inside of this Bearish Trend Channel.Has formed a series of Tops and Bottoms but ultimately failed to breakout of the channel making this bearish trend stronger over time. It has recently managed to find some support at 1.4860 area and is currently trading around the 1.4935 mark.So here are some of...

Trader_97

Though currently still trading inside of a Bearish trend Channel the support T.L from 2nd December remains intact.All this setup requires is a break and close above the 1080 area for confirmation.With FOMC statement & interest rate decision for the US DOLLAR ahead this makes this a very risky setup but I myself feel it maybe worth trying.Technically Prices are...

Trader_97

So Usd/Chf for the past 3 hours seems to have been correcting lower but price action does indicate some reaction and push towards the upside from 0.50% Retracement level @0.9855 area.Price dipped below it and quickly found support @ 0.9848 area. Can't say if this little pull back is meaningful just yet since we have the Rate decision tonight but it may provide...

Trader_97

Pound fell about a 100 pips under a matter of few hours after we kicked off. Pound/$ managed to close above the 0.236% retracement level on the previous H4 candle but I suspect we downside action hasn't concluded yet.If price breaks below the the support T.L in the centre of the channel.We may continue to see it decline to 50% retracement level.Where I see two...

Trader_97

Eur/Usd seems to be attempting to break lower from the support T.L that held up for about 7 days.Price is still above the 100 day and 50 day Moving averages.If we succeed in breaking lower from the support T.L the 0.236% retracement level will likely come in play.However a close above 1.0974 and we may continue to see the price trade inside the structure and...

Trader_97

THE INTEREST RATE EVENT RISK IS THE CAUSE OF THE DECLINE I'M EXPECTING ON KIWI/DOLLAR IN A FEW HOURS . Technically I see a possible top in place on December 4th which followed up with a nice bearish candle.In the last two days Kiwi didn't show a lot of focus on the direction it may continue in.The doji may be a sign of a possible spike back up higher or maybe...

Trader_97 Updated 

GOING LONG.STOP UNDER 1.0834 AND LOOKING FOR TARGET AROUND 1.0872 - 1.0888.

Trader_97

Since we broke out of the Trend channel from October 20th on on December 2nd Dollar fell sharply against Swiss Franc .Things don't look so good for the pair as Dollar struggles to find support.Recently bounced from the support @ 0.9870 area and retraced almost 0.382% and Dollar failed to hold on two its gains.Prices are trading well below the 100 day and 50 day...

Trader_97

Price has broken out of T.L Resistance from 16th of November 2015.That for one seems like a good reason to consider stop shorting Gold for short or maybe even medium term.On H4 and H1 timeframes price is trading above the 100 day and 50 day moving averages.If 1066 holds up then this I will consider this a decent bottom formation in my opinion it'll act as good...

Trader_97

After some explosive movement towards the upside Pound has reached the 0.618% retracement level. Here are a couple of reasons why I'm considering going short here.The Bearish T.C from November 2nd is intact.Despite the fact that bulls seem to be under control.We got multiple rejections under the 0.618% Fib level on H4 time frame and we are pretty close to T.L...

Trader_97

Dollar was moving higher sharply until last week but now it seems like we may have carved a top around the 100.50 mark.Currently trading below the 0.236% retracement level and price is in direct contact with the 50 day EMA.We may stop and stall around the 0.382% fib retracement level if we continue to decline.T.L support from October 2015 was broken yesterday but...

Trader_97

EUR CLIMBS 380+ PIPS AGAINST THE GREENBACK IN REACTION TO ECB's DEPOSIT RATE CUT AND THE CONFERENCE FOLLOWED BY IT.That's a fundamental way to describe what happened.Technically we simply had a bullish breakout from the falling wedge in which price consolidated from 12th of November.Currently prices are well above the 100 day and 50 day moving averages.Buyer's...

Trader_97 Updated 

We broke out of the Trend line resistance from 12th October 2015 which is our first clue of the upside reuming within this medium term Bullish channel. 2nd significant clue here is the price breakout from the bearish Trend channel from September last year though it still feels like that we can correct lower and retest the area where we broke out of which just so...

Trader_97 Updated 

Finally we see dollar losing steam on the Dollar/Swissy.Yesterday we closed with a Doji like structure. The pair found resistance around the 1.0328 area....Near term support is around 1.0218 area.Failure to hold above it means we may get to see the 0.236% or 0.382% fib levels come into play where we may see the buying interest renew.Looking for opportunities to...

Trader_97

Though still trading inside a Bullish channel but we could be headed lower for short term.Price broke out from the recent T.L support from October 15th and our daily close seems to be bearish although the candlestick left shadows both ways.I think if we manage to break and close below 122.20 area.... Price may continue to fall but with no decent support until...