dnsmith

dnsmith

Gold has been trading in the this 4 hour bull channel and is getting close to previous key resistance levels around the 1360 level. Last week saw price action move back to the 1322 mark, a slight pullback to the 1330 area and will now retest the 1322 level. Following the trend, 1322 should be retested at the support line of the channel before it moves back up...

dnsmith

GA is going to make a big move this week, but the question is long or short? The reason why I am neutral on this is a combination of recent price action of each pair and currency strength. Following the channel would indicate a move to the upside - although we recently saw a lower high, indicating a reversal maybe imitate. The other thing to note on this pair...

dnsmith

USDCAD showed a beautiful reversal pattern at the close of the week 15 Feb. A short term trade will price move all the way down to retest the low price structure, After that we may see a move all the way up. But wait to observe price action.

dnsmith

AUDUSD has been battered and there is no denying that. After bouncing off the support area of the .705 mark, price is getting for a big move up. A short term trade can take you to the .725 area - but see the chart for long term targets. A break through the resistance zone, will be a key to go LONG.

dnsmith

The one trade this week which identifies the biggest RR has to be AUDNZD. AUD is at the bottom of the 4 hour channel and is very undervalued. An easy entry here will be a scaled in approach, as price moves through the price points - add more longs.

dnsmith

AUDJPY has been bouncing off the support zone of the past few weeks. We have two options, either the cup and handle that formed last week breaks out OR we get one last retest of support. Either way, a long entry on AUDJPY is going to be a big move.

dnsmith

Price peaked at 1325 last week and then started to move down in the rising wedge. Whilst this week won't be a large break out move - it will provide short and then long opportunities. The short has two targets 1308 and 1300. The long move will be from the bottom of the channel (or at these prices) and then a trend continuation.

dnsmith

GU Struggled to make a hard reversal last week, but finally started showing the signs. We are seeing it test and retest the resistance zone, but once it breaks down, this trade will move down hard. Whilst I trade trend analysis, Brexit will be a major factor in this pair - watch for fundamental noise and volatility. Any chance to cover positions in profit will...

dnsmith

UCAD currently has a strong downtrend occurring but is reaching a key support zone. I would expect to see a consolidation pattern occurring at the support zone. Trading opportunities will come through a W or reverse HS pattern given the strength of this down trend. Breaking of the 4 hour resistance will be another confirmation for a long trade.

dnsmith

EJ has hit the support zone within the larger wedge pattern. A small consolidation occurred last week and price started to push upwards towards the close. This week should see price pushing up towards the resistance zone and then a major move will occur for the EJ. Just looking to trade with the key price action.

dnsmith

AUDUSD is going to be my pick of the trades this week, After significant consolidation, a reverse head and shoulders pattern and then we broke through the Resistance line. As the week closed, we saw a small wedge consolidation occur. Get ready for a rocket fuelled long term trade on the AUD. Multiple TP zones identified in the chart

dnsmith

AUDCAD Broke through the 4 Hour resistance zone and came back to retest it on the weekly close. This week will be a great week to look for longs on this pair. Simple price action - When resistance becomes support!!!

dnsmith

AUDUSD has been showing multiple reversal signs on both the 4 hour and 60 min charts for the past week. The 4 hour shows a large reverse HS pattern occurring and nearing its end - a long term trade will see the break of the 4 hour resistance line around the .725 mark. Currently price on the 60 min is pushing down to the .715 mark, forming the bottom of the...

dnsmith

Price has recently consolidated around the 1.13 zone. Overall price is in a down trend, but has hit a signifiant support zone. A move to the down side will see a sell stop at 1.119 right down to the 1.06 zone A move to the upside will see a buy stop from the 1.153 right up to the 1.23 area. Both offer good risk reward.

dnsmith

The pound showed a huge upward momentum last week, but is reaching key resistance zones. The uptrend pattern is a sharp rising wedge, it will take a bit to reverse this momentum, but will move quickly when it does. Sell only in the break of the support line. Be warned a test of the daily channel may occur around the 1.89 area. Just wait for price to give its direction.

dnsmith

AUDUSD is getting ready to go long. A series of price action test around the 70.5 zone, has shown a triple bottom on the 1 hour chart, we may see a quick retest of the .683 zone, but a break of the 4 hour resistance line will be a fantastic long trading opportunity.

dnsmith

AUDJPY has been hovering between the 77.7 and the 78.7 zone. Must the same as most AUD pairs, we have been in a long term down trend, but price action has started showing reversal signs. Upon breaking through the consolidation zone and (if up) the 200 EMA, we have a nice healthy area for a long position. No trade yet - watch for movement out of the consolidation zone

dnsmith

AUDCAD is a no trade just yet. Whilst we are currently in a down trend (follow the trend for trend traders) - this week will prove interesting. Being at the intersection of both 4 hour support and resistance zone, the price action will provide an indication of direction, depending on which way price breaks.