I think the USD is over-bought currently and I am expecting a move lower in the USD Index. This means I can take a basket trades
- Long EUR/USD, GBPUSD, AUDUSD, NZDUSD, XAUUSD
- Short USDCHF, USDJPY, USDCAD
- Waiting for a break below the trendline
- Stop Loss when price takes out 11077 on the index
- Target - when price reaches the outer trendline or the 1.27...
1. Divergence between price and stochastic as seen on chart
2. Expecting price to rise to the 1.618 Fib extension @ 1358
3. 100EMA will probably come down to meet the 161.8 Fib extension
4. Entry discussed on the H4 time frame (basically on a break of 100EMA on H4)
5. Stop Loss in case of entry is below the lows
1. Price broke a long term up trend line on July 2nd 2014 and has since been dropping.
2. The 1.618 Fib extension for the latest down swing is around 1.3817
3. Hidden divergence is seen (Price made a lower high while stochastic made a higher high)
4. The 100EMA seems to be giving good resistance to price
5. Stochastic is in the over-bought area hence...
1. Price broke a long term down trend line on May 13th 2014 and has since been going higher.
2. Yearly Pivot is still unhit @ 0.8719
3. The 1.618 Fib extension for the latest up swing is around 0.8700
4. Hidden divergence is seen (Price made a higher low while stochastic made a lower low)
- I expect price will move up in the coming days...
NZD/USD is trading above the 50 & 100 SMA. I am expecting the price will move down to touch the 50SMA before heading back up.
A stop sell order will be triggered at 0.8640 with TP1 @ 0.8612 (50% of position)
- Moving SL to Break Even
- Second Profit Target @ 0.8572
- SL after entry is triggered is above the range @ 0.8710
Apple 1H Chart is showing divergence and oversold condition (RSI above 70).
If price starts to decline and breaks the uptrend line, I will go short until 598 as a first target and 593 as a second target.
If the Trend Line is not broken and price does not make a lower low, Apple will make newer highs.
Price is approaching the 200 EMA on the daily time frame which coincides with a previous resistance level that may act as new support. & the 1.618 extension of the down move.
I expect the price to keep pushing down to 1.467 area before rising up to 1.50 to meet the down trend line.