RSI is moving lower while price is moving isn't. We could see at test of top of the range at 1.0580-1.0620 before a break out of the range or a resume of it. This fractal shows that we should expect more upside twitter.com SL below 1.0280
I went long at 1.2800 Now I think we can get a new low before a major rally. New low should be around 1.2650. A break above 1.3200 would suggest that a major rally is already on. For now: cover long. Short against 1.3200. Also this fractal from 1997 shows potential for new lows below 1.20 twitter.com
I went long AUDCAD last week, looking for a new high - But by the looks of it, I'm not sure we will see a new high in this pair. If RSI dont move higher soon, look for a short entry. Soft target is the 50fib at 1.0480. SL is above the double high at 1.0700. If this is an A-b-c-correction, then the double top is A-B and C should give us new lows.
I see that many people are bearish GBPUSD, calling for 1.43 and 1.35 long term. I, for one, isn't. I'm already long EURUSD from 1.2800: and looking to go long against GBPUSD 1.5270 (double top resistans). A break above 1.5400 should change the bearish sentiment. If 1.5280 is taken out, look for 1.5030 to keep bullish basis intact. The hammer on the monthly...
Last weeks "Weekly outlook" (EURJPY long +300) (AUDUSD short +60) On friday we touched the bottom of the resistans box and then we got a bounce, so I think we should look to sell any rallies below 1.0480. The 50SMA have crossed below 100SMA and 200SMA which indicate bearish basis. Below 1.0340 should give bears confidence If we break 1.0500 look for 1.0550...
I will look to go long against yesterdays low at 1538. RSI is showing great bullish divergence. that don't mean that the market can't make new lows, but new lows above 1522 (2011-low) should be bought. A break above 1640 (key resistans and 38.2-fib) should give bulls encouragement.
I went long at 1.2250 and 1.2200 priro to this idea: I will add at 1.2490 and 1.2400 (if reached) or a break above 200SMA. Below 1.2340 will give reason for re-consideration. Soft target is 1.2800
As long we are above 1.0450, there is upside risk. Today we have CAD Employment Change, Trade Balance and Unemployment Rate, so that can give us good entries. USDCAD could be a better long, but I will wait until monday to see what will happen.
below 1.2320 makes this count wrong, great risk/reward
It looks like we have completed 5 waves up, and now we should get a 3 wave correction. A-B-C correction should reach at least 1.0370, where we have an important area (1.0370/40) which will deiced the trend. On monday we have the very important RBA rate decision, which can provide good entrys. Trading ideas: Sell at 1.0450, TP1: 1.0370 TP2: 1.0280 TP3: 1.0180...
Entry: 1.0620-1.0650 SL: 1.0700 TP 1.0500
The market could be repeating it self. look for the macd to crosover before going long. stoploss 93.20 (1.618), target open (97-98-100). Good luck! edit: 30 mars: stop out at break even. Will be on the side lines because of the fundamental releases this week.
AUDUSD is still bullish. 1.0500 is the level to watch to the upside. I believe that we are in a fifth wave of the lows, and it could be an extended wave with 5 wave within. The wave count could be wrong, and we could be in wave three instead. If the market does't make new highs and breaks the 1.0340, but more importantly the 1.0300, it means that the 5 wave...
Last weeks spike below the 1.0150-daily support confirms that there is more downside. now it looks like we have had an a-b-c correction and should be looking lower. Next wave could take us to fibo extensions of 1.0050 (1.141%) 1.0000 (1.236%) .9900 (1.414%) and .9820 (1.618%) AUDUSD could be showing a ending diagonal. A break out would test former res at 1.0270....
Traders have been anticipating a move down to correct the sharp move up for the yen-pairs in the past few weeks. At the moment, it looks like the USDJPY is forming a H&S - favoring the expected down-move before higher again. But it could also be a triangel which could break higher for a final leg up before lower. Don't commit without conformation. If it breaks...