GBPUSD is showing its reversal signs on the 4 hour chart, indicating it will reverse of the major resistance area.
EURUSD is reaching critical zone both in terms of support and current downward movement- but there is an reversal opportunity on the cards Price is currently sitting around the 1.135 zone, but has reached the 4 hour support zone. The challenge on this pair is the strength of the current downward movement, although RSI is indicating the oversold region. A break...
Price has clearly consolidated around the 1290-1297 range and has tested these two price points nearly all week. Price hasn't been able to push through the zone and we should see a retest of the 4 hour trend line and the 200EMA at around the 1280 mark. Watch this trade carefulluy
AUDCAD has been in a longer term down trend , with last week seeing a break of the head and shoulders pattern to hit the .938 TP. We are seeing AUDCAD now in a wedge consolidation around the .95 area, prior to a move to the downside to retest the .938 zone. Once the consolidation has bound up, a good area for a sell stop, with the SL around the .95 area and TP...
Gold has broken through the 1 hour support line and the final price action before the weekend, saw a small bounce from the 50EMA. As you can see we have an underlying 4 hour support line, which will nicely coincide with the 200 EMA. Monday lunch time should see gold give its indication of where price will move to next, a short term pull back before continuing...
The EURAUD Short is an absolute text book trade. Broken through the support line and crossed over the 50 and 200 EMA. I took an initial trade on this breakout - although wait for a retracement for further entry opportunities.
My last AUDCAD was looking for a short move from the HS pattern to the .938 Zone and the volatility this week hit the TP. We can see price has moved back up to the .952 zone but has reversed off the 20 EMA. We can see the 20 EMA and also Crossed the 200 EMA line. Given the above, we could see a retest of the .938 zone before a potential reversal to the upside....
USDCHF has started its down movement towards the 98 zone - prepare for a pullback on Monday for key entry points. Not too much more to say on this one, easy text book trade
We're in an uptrend on the USDCAD 4 hour currently, but are starting to reach key resistance levels. That said - stay long until the 4 hour is properly broken and then its time for the down trend to start!! Any trades for me will simply be in a reaction to price movement.
GBPUSD has once again showed signs of reversals at the key support level. This price has been test twice before, this this being the third test. Our TP1 is the 1.31 zone, if price continues to move through the 1.31... be prepared for a big move to the upside.
GBPJPY is in an overall long term trend, but we are at a crucial support zone at the 143 level. Momentum has slowed at the support zone, showing signs and a short term long opportunity to the 146 zone. If resistance is broken through at the 146 zone, this will indicate and longer term trend break out with huge opportunities. If we see price break below the 143...
Since my last update on the EURUSD, we went from the 1.17 area and hit both TP zones perfectly. The trend is about to change to the long side with bullish evidence on the 4 hour chart. Target zone is the 1.17 area, with multiple buy opportunities along the way.
After the previous down trend has been broken, we should see a retest of the low before head long. Basic price action with a supporting reverse head and shoulders formed.
XRPUSD will have two scenarios that can occur - Will either go back to .42 or back to .52. We can see on the 1 hour that price has consolidated and is getting ready for its next move. This isn't a normal trade for me, but have set both a buy and a sell stop either side of the consolidation with targets being .42 or .52. Whilst its a 'gamble' approach, both...
USDCHF Has reached a key resistance level around the 1.01 and has approached this multiple times on the daily chart. We can see again, the price action is starting to move back down towards the rising resistance trend line, confluence with the RSI being overbought. This short will be with a trailing stop
We are seeing XAUUSD short term range between 1193 and 1206, Given price has just hit the 1193 support level, with an oversold RSI, we can anticipate price will move back to the 1206 level. There is potential price could make a longer term move up (see the weekly chart), but will re-evaluate if price moves well past this short term range.
Short for GBPUSD, Currently we have an upwards wedge and just hit the 4 hour resistance line. Awaiting for the break of 1 hour support lines to entry. In theory this should be a text book trade, have patience and await breakout for confirmation of entry.
I'm currently neutral and watch EURUSD. LONG: We could see a continuation of the upward trend on the 1 hour, also supported by the oversold on the RSI - this will see a TP in the red zone TP1. SHORT: This is will be the bigger move of the 2 scenarios. Note the potential double top on the 4 hour chart with two potential TP Targets. Waiting for a break of the 1...