I am favoring a move lower in GBPCAD since price is at a major resistance zone. I can also observer a hidden bearish divergence (price made a lower high while stochastic is making a higher high). Stochastic is also in the overbought zone. ** Given the drop in OIL prices, GBPCAD may still rise to 1.85 zone. So, I will drop to the H4 & H1 time frames to try to see...
Let's wait for price to retrace a bit and then enter long on a bullish candle stick formation. Alternatively, a buy stop can be placed above the highs after retracement.
Overall Weekly Outlook for Natural Gas. I am expecting a bullish move during the week starting Dec 15th - Dec 19th 2014. Entry Signal will be shown on the hourly chart To follow me, add me on twitter @fxtigerfx
I am shorting NZDJPY now with a SL 15 pips above the highs and TP at the levels shown
I see a H&S pattern on EURNZD Daily .. I am only waiting for the break.
Looking to short EURUSD on a trendline break
We are at a previous support level which may act as resistance on the daily time frame I am looking to short EURAUD based on a bearish candle stick formation on H4 or H1 ... Target will be around 1.462 area
Shorting to 1.2360 - hidden bearish divergence - stochastic in overbought zone.
I am looking at shorting NZDUSD within the red zone in the chart for a trend continuation trade all the way to the targets shown.
EURAUD has formed an upward channel on the daily time frame. Price has been rejected at the upper edge of the channel. Monthly Pivot below price @ 1.452 I believe price will attempt to hit this month's pivot so I am interested in shorting EURAUD to the monthly pivot This is around 240 pips opportunity. Stop Loss goes above the highs & above the channel !!
EURAUD has formed an upward channel on the daily time frame. Price has been rejected at the upper edge of the channel. Monthly Pivot below price @ 1.452 I believe price will attempt to hit this month's pivot so I am interested in shorting EURAUD to the monthly pivot This is around 240 pips opportunity. Stop Loss goes above the highs & above the channel !!
On a break of trendline (red), I am expecting AUDCHF to make it to 0.8200
On a break of trendline (red), I am expecting AUDCAD to make it to 0.9618 No break, no trade
Short on a break of trendline only .. target 118.58 .. Quick Scalp
H&S Pattern on GBPNZD on a break of Neckline .. 2.416 looks like a reasonable target :)
I like a short on AUD/JPY to 99.70 based on: 1. Bearish Engulfing Candle at a previous resistance = new support level (red level). 2. Bearish Hidden Divergence (Stochastic formed a lower high but price made a higher high) 3. Tons of Missed Pivots below price 4. NO vote to SNB Gold Initiative which will put pressure on commodity based currencies (AUD, CAD, NZD)...
With a "No" vote on SNB Gold Initiative, I am expecting weakness in CHF. I like a bullish move on GBPCHF to test previous structure highs at 1.542 & 1.550