mrshed

mrshed Updated 

We are seeing AUDCAD entering RSI Overbought on the H1 timeframe, along with testing its pivot and long term trendline. I would anticipate a correction downwards over the coming hours, 382 fib looking like a decent target as it will line up with the EMA50. Look at shorter timeframes for a good entry point.

mrshed Updated 

GBPJPY has seen a large short this morning but has been supported by S1. We should see a retracement back towards the pivot and 382 levels, entered a short term long position.

mrshed

OK so EURUSD has tried to break its S1 resistance a couple of times and is failing to do so. As a result, EMA50 has come in to almost hit S1 support, along with a downward trend line and previous fib 236. RSI is also bearish with lower lows. 4 combined levels of resistance with the bearish RSI and general bearish trend of the pair means this would appear to be...

mrshed Updated 

Looking at a short on GBPUSD - market has reached 236 fib and is showing bearish convergence, as well as hitting long term trendline. Looking for a reversal towards the previous low but stopping short of S1. Simple 1:1 position.

mrshed

Anticipating a swing out by EURCAD shortly. Pair is trading at a 12 month low (well, lowest since last November). If it can get back above this low and test S1 then we may see a strong correction given the strength of the downtrend. If it fails to capitalise upwards, it could see another swing downwards. Tracking this one on the H1 timeframe where it is...

mrshed

GBPEUR testing its previous support trendline with RSI looking towards overbought. Could be a retest down towards the 236 fib which will align with 50EMA. Not anticipating a test back towards 382 due to the EMA and general uptrend.

mrshed

GBPAUD has hit R2 on its breakout and is now struggling on shorter time frames. RSI has gone overbought. Looking to enter a short position to target the 382, anticipating a reasonably strong correction here.

mrshed Updated 

AUDCAD is at historic lows, but is currently testing both its long term downtrend line and S2, with RSI in an oversold position. Good opportunity for a long position targeting the 382 and 50EMA. However - needs confirmation on shorter timescales as there are no obvious bullish convergence yet, although I do expect them to come. Could be a good profit here if...

mrshed Updated 

GBPAUD has broken its trendline this morning and is heading towards R1. Worth monitoring this pair over the next couple of hours to see how it reacts on R1. My gut says its going to be a resistance and an opportunity to catch the retracement, based upon the oversold RSI, but if it breaks R1 there could be decent upside. One to watch.

mrshed Updated 

EURUSD has just reversed off its long term low, and I anticipate a retracement to at least the 382 in the first instance. As per alicoolzero's idea, its possible this could go to a longer term long position but I am just targeting the 382 initially given the medium term down trend. Targeting just below the 382 and SL below the previous reversal long term low for...

mrshed Updated 

AUDCHF is hitting multiple resistance levels on H1 and M30 timeframes, all hitting 50EMA and 500 fib. I anticipate a pullback towards the 50EMA on H4 and the Pivot. Looking for a simple 1:1 RR, but low exposure as its not certain to reverse. Deceleration at lower timescales implies a reversal.

mrshed Updated 

Currently looking to execute a short position on EUR/GBP on H1 Timeframe. Reasons: - RSI overbought on M30 and heading to overbought on H1. - Anticipating rebound off historic downward trend line and EMA 50. Looking to take profit towards S1 and SL above previous high. Not an opportunity yet - looking for confirmation on closure of hour candle, current candle...

mrshed Updated 

Anticipating an upward move on GBP/JPY towards R2 at 154 mark over next fortnight. Pivot and fib retracements aligning around 146.857 mark, with upward trending 50EMA likely to provide further resistance. Will look for a test and rejection at this level then enter a long position with a stop loss below the 618 retracement and EMA. Do however need to look at the...

mrshed Updated 

Possible Long opportunity on GBPUSD H1. Currently testing strongly the S1 and trendline levels, with RSI very oversold. Seeing deceleration on M30 towards support. Short term long potential depending on candle close would be to target 382 fib.