smartforexlearning

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Online Joined United Kingdom smartfxlearning
Watchlist for the upcoming week now published!
Markets Allocation
89 % forex 11 % other
Top Mentioned Symbols
AUDUSD 11% | 2 EURAUD 11% | 2 AUDCAD 11% | 2 EURGBP 11% | 2
smartforexlearning smartforexlearning PRO NZDJPY, 240, Short ,
NZDJPY: Potential downside trend reversal on NZDJPY 4H
142 0 6
NZDJPY, 240 Short
Potential downside trend reversal on NZDJPY 4H

While we're still waiting for the EURGBP setup to trigger, one of the setups I'm also interested in is NZDJPY on the 4H charts. This pair has been in a very long uptrend already and shows good price action: not too volatile and good swings. It's what we're looking for in a reversal setup: clean and predictable trending behaviour. But recently, the price has been ...

smartforexlearning smartforexlearning PRO EURGBP, D, Short ,
EURGBP: EURGBP: double top reversal on the daily with downside potential
137 2 11
EURGBP, D Short
EURGBP: double top reversal on the daily with downside potential

One of the setups I'm looking at for this week is EURGBP on the daily. In the past couple of weeks, it has been flirting with the resistance level created by the previous swing high, around 0.88500. This time around, we can see some selling momentum as the bulls keep having trouble to break the level, which resulted in a nice double top. In Friday trading, we ...

smartforexlearning smartforexlearning PRO CADCHF, 240, Short ,
CADCHF: Nice rounding top reversal, potential 4H short for CADCHF
112 0 9
CADCHF, 240 Short
Nice rounding top reversal, potential 4H short for CADCHF

Right now, I'm looking at a nice rounding top reversal that is in the works on the 4H charts of CADCHF. The pair has been in a steady uptrend for quite a while now and while the initial push up was very strong, the uptrend has been losing steam recently. We can see a nice flattening curve in the price action, culminating in a sharp sell-off with a very strong ...

smartforexlearning smartforexlearning PRO CHFJPY, D, Short ,
CHFJPY: Potential short play on the CHFJPY daily charts
83 0 7
CHFJPY, D Short
Potential short play on the CHFJPY daily charts

There is a setup on the daily charts for CHFJPY that I've been following for the past two weeks now. Basically, we can see a very nice market top reversal at a significant previous swing high and resistance level. If the current daily bar manages to break and close at or below the 113.000 level, I believe a further move to the downside is likely. This is a prime ...

smartforexlearning smartforexlearning PRO DXY, D, Short ,
DXY: Break of lower trendline, more downside momentum on DXY likely
157 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
110 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
133 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
83 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
112 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
66 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
147 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
186 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
99 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
67 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
56 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
39 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
98 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
139 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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