smartforexlearning

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About me Smart Forex Learning is the best online resource if you want to learn how to be profitable in Forex trading, improve your trading strategy or automate your forex trading systems.
Joined United Kingdom smartfxlearning
Markets Allocation
86 % forex 14 % other
Top Mentioned Symbols
AUDUSD 14% | 2 EURAUD 14% | 2 AUDCAD 14% | 2 EURUSD 7% | 1
smartforexlearning smartforexlearning PRO DXY, D, Short ,
DXY: Break of lower trendline, more downside momentum on DXY likely
54 0 6
DXY, D Short
Break of lower trendline, more downside momentum on DXY likely

The US dollar index is at a turning point. For close to 6 months, this index has been in a converging symmetrical triangle that was playing out on the daily chart. During that time, many tests of both the upper and the lower bounds of the triangle have happened, but there was never an actual breakout. This has now changed. On Friday, the DXY broke and closed ...

smartforexlearning smartforexlearning PRO EURAUD, 60, Short ,
EURAUD: Potential short reversal with H&S on EURAUD
68 0 7
EURAUD, 60 Short
Potential short reversal with H&S on EURAUD

For next week, I'm looking at a short-term play on EURAUD, which is showing a nice head and shoulders chart pattern on the 1H chart. Technically, the pair has been in an overextended uptrend and is now clearly showing signs of slowing down. We could first notice the RSI divergence, which developed into a H&S pattern. Only the neckline still needs to break on a ...

smartforexlearning smartforexlearning PRO XAGUSD, 60, Long ,
XAGUSD: Potential short-term long play on silver
111 0 6
XAGUSD, 60 Long
Potential short-term long play on silver

Yes, that's a confusing title. This is a potential shorter-term long play. On the 1H chart, XAGUSD is at an interesting level. The horizontal blue line indicates the previous swing low and it clearly acts as a support level that seems to hold. We can see a relatively nice downtrend with multiple swings, while the trend is now in the overextended territory as well ...

smartforexlearning smartforexlearning PRO USDCHF, 240, Short ,
USDCHF: USDCHF on the move, potential reversal down in the making
70 0 6
USDCHF, 240 Short
USDCHF on the move, potential reversal down in the making

On the 4H charts, we can see that the $USDCHF is starting to look as if it wants to reverse. Main things I'm looking at right now are the rejection of the larger timeframe downwards trendline, followed by a break of the moving average and (more important) a further push down. A pin and drive reversal entry trigger is in the making with the last two bars. This ...

smartforexlearning smartforexlearning PRO AUDUSD, 240, Long ,
AUDUSD: Potential long reversal for AUDUSD after reaching 4H swing low
97 0 10
AUDUSD, 240 Long
Potential long reversal for AUDUSD after reaching 4H swing low

On the 4H charts, the AUDUSD is at a crossroads. Since around March 20, the pair has been in a downtrend. Especially the last "wave" was very clean and controlled. The pair reached the 161.80% Fibonacci extension and at the same time, we're at a previous swing low which acts as a strong support. Today, this setup gets more interesting. The lower bounds of the ...

smartforexlearning smartforexlearning PRO USDSEK, 240, Short ,
USDSEK: Potential short reversal setting up for the Swedish Krona
56 0 9
USDSEK, 240 Short
Potential short reversal setting up for the Swedish Krona

On the 4H charts, the USDSEK is at an interesting point. We can see that for the most of April, the pair has been in a clean and long uptrend and is now in oversold territory (the Fibonacci extension indicates a move well over 200%). Additionally, the pair has reached a previous swing high. This clearly acts as a resistance level, which the price hasn't been able ...

smartforexlearning smartforexlearning PRO USDMXN, D, Long ,
USDMXN: USDMXN setting up for a potential long reversal
133 0 8
USDMXN, D Long
USDMXN setting up for a potential long reversal

This is one of the setups I'm looking at for next week. The USDMXN on the daily has one of the cleanest trends of any pair recently. However, it has been overextended and is nearing the 200% Fibonacci extension level. At the same time, there's a very strong demand zone close by, around the 18.30000 level. Last time that price dipped into this level, it shot up ...

smartforexlearning smartforexlearning PRO AUDCAD, D, Short ,
AUDCAD: Head and shoulders on AUDCAD daily unfolding
175 1 10
AUDCAD, D Short
Head and shoulders on AUDCAD daily unfolding

I've been waiting for this setup to unfold for a while now (I was already eyeing the setup in my weekly outlook 2 weeks ago). For the past months, we could see a couple of beautiful swings on the daily for AUDCAD. The price has now reached the previous swing high, which was a strong reaction point last time. As is often the case for a reversal, we can see a head ...

smartforexlearning smartforexlearning PRO EURGBP, 240, Short ,
EURGBP: Reversal short setup EURGBP on 4H
95 1 6
EURGBP, 240 Short
Reversal short setup EURGBP on 4H

I'm getting interested in a potential short opportunity on EUR/GBP on the 4H. Price is at a longer-term resistance level (red line), which coincides with a higher timeframe downwards trendline (black line; connect the highs on the daily to see it). Additionally, trend structure has been really nice and clean, the price has reached the 200% Fibonacci extension ...

smartforexlearning smartforexlearning PRO EURAUD, D, Long ,
EURAUD: EURAUD long after reversal and break of resistance level
63 0 1
EURAUD, D Long
EURAUD long after reversal and break of resistance level

Last week, we've seen the reversal setup on EURAUD finally materialise. The bullish divergence (price made lower lows while RSI made higher lows) was another confirmation, but the rejection of the lower support level followed by the very bullish move up left little doubt. On Wednesday, price already tested the resistance level (indicated by the black horizontal ...

smartforexlearning smartforexlearning PRO AUDCAD, 240, Short ,
AUDCAD: AUDCAD uptrend broken, now expecting a move further down
52 0 1
AUDCAD, 240 Short
AUDCAD uptrend broken, now expecting a move further down

The longer uptrend on AUDCAD was broken at the end of last week, after the pair tested the strong resistance level (visible on the Daily) and broke through the 1.0000 level quite easily. After a retest of that level, sellers got in control and pushed the price down. This provides us with a good opportunity to ride the newly formed trend. I expect sellers to push ...

smartforexlearning smartforexlearning PRO AUDCHF, 240, Long ,
AUDCHF: AUDCHF: uptrend and strong support indicate room to the upside
37 0 1
AUDCHF, 240 Long
AUDCHF: uptrend and strong support indicate room to the upside

The pair has been in a longer term uptrend (better visible on the daily chart). After the strong bullish move recently, the price is now retracing to the previous support levels, ready to continue further up. Stochastic indicator show oversold levels both on the 4H and the 1D chart, which indicate that the sellers are losing steam. The support area offers great ...

smartforexlearning smartforexlearning PRO AUDUSD, 240, Long ,
AUDUSD: AUDUSD: bullish outlook, but AUS CPI and Fed cause risks
97 0 2
AUDUSD, 240 Long
AUDUSD: bullish outlook, but AUS CPI and Fed cause risks

When looking at the daily for AUDUSD, I believe there's a clear uptrend visible, indicated by the orange trend line. H4 also shows lower lows and higher highs. Moreover, the lower level of the support area (indicated by the green arrows) has been tested multiple times and seems to be holding. These are indicators that the pair could trend higher. We've seen a ...

smartforexlearning smartforexlearning PRO EURUSD, 240, Short ,
EURUSD: EURUSD either range-bound (awaiting ECB stance) or bearish
137 3 4
EURUSD, 240 Short
EURUSD either range-bound (awaiting ECB stance) or bearish

We've seen the price being tested against the top resistance level for a couple of times now, every time following quite a sell-off. This week, I can see 2 things happening; EURUSD gets in the range between 1.116 and 1.10, awaiting what Draghi has to say in the ECB meeting on Thursday The bearish trend will continue, possibly after first moving up to a medium ...

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