AUDUSD bound by a downward channel in the 4-Hour timeframe
Without much economic news affecting the pair.
We expect the movement will be greatly on the technical side.
As we see on the parallel channel the price hit its resistance and now starting to move downwards.
Our bias for this weeks moves is short.
Sell Entry : 0.77470
Stop Loss :...
NFP trade idea
The upcoming NFP and Canada Unemployment rate are the catalyst for friday's movement.
My bias is toward the USD, NFP is expected to have a positive data in favor of the USD.
Buy Entry: 1.2120
Move catalyst NFP expected to have positive data for USD
Price supported by EMA 20 pointing up
EURJPY has been in consolidation in 133.700 to 134.000 for some time now and now forming a downward channel.
With no significant economic news release today, we expect price movement to be more on the technical side.
A break in the 133.700 move will be more favorable for our bias.
EURJPY Trade Idea
Sell Entry : 133.870
Stop Loss : 134.070
TP : 133.375
GBPUSD is consolidating in the 1.4100 to 1.4220 zone.
Prices yesterday manage to pierce through the 1.4220 reaching as high as 1.4250, but eventually failed to close the daily candle above 1.4220.
For now, its immediate resistance is at 1.41800. A break in this price level may trigger a bullish move for GBPUSD and retest its new resistance at 1.4250.
USDCAD trade idea
Buy Entry @ 1.20750
Stop loss @ 1.20400
Target Price @ 1.21750
RRR : 2.86
USDCAD has been in consolidation for the past week, but making higher lows forming a flag pattern.
In view of the upcoming economic news release this week (NFP,etc.) my bias for the pair is long.
Positive data from the US will trigger a bullish move for...
EURUSD Trade Idea
Breakdown of the Support
EURUSD has been on an up and down cycle for the start of the week in anticipation of the US Economic updates and news (GDP,etc.) coming out tonight.
The DXY has been holding its ground on the 90 level. Indicating that traders have been very cautious on the strenght of the USD.
From a technical perspective
We can see in...
USDCAD has been trending downwards for 7 consecutive weeks now.
If we look in the monthly chart the downward momentum is now slowing down.
But a break in the 1.20000 price level will drag the prices down to 1.19000.
My bias for this week's movement will be a consolidation in 1.20300 to 1.20900 before breaking out in the wedge pattern next month (June) as we can...
EURUSD Now at Monthly Resistance (December closing price level)
I expect it to close the month within this price level or lower
Entry @ 1.22130
Stop L @ 1.22400
Target Price @ 1.21600
A break in the Stop loss level @ 1.22400 will signal a bullish trend for June.
Sell @ 1.21800
20 & 50 EMA Cross
Price rejection on created resistance during asian session
Bearish bias for daily TF
Catalyst for movement is the New york session closing breakdown, bias is to have a bearish move for the day.
USDCAD trade setup (Bounce Play)
Buy at 1.20200
Stop loss : 1.19550
Target Price : 1.21350
During the london session we saw a price rejection in the support area around 1.20200.
USDCAD price now at support level. a breakdown in 1.20200 will take the price to 1.19200.
GBPUSD Trade Idea
Time Frame : 1H
Sell on resistance at 1.41700
Target Price: 1.41400
Stop loss: 1.42000
Reasons for Selling
>Resistance at 1.41800 is respected. As we can see price rejection at 1.41760 during the asian session
>Expecting a pullback during the pre london and london session until 1.4140
If you like this idea or have any comments, I would love to...
Good day traders,
USDCAD has been on a down trend since Dec 2020 when the major support on the 1.3000 broke.
The price has been moving within its downward channel .
A possible Bounce play could happen since the current price is now sitting on the channel support line and horizontal support line at 1.20900. If this level does not break, then there is a high...