I'm trading EURUSD with a long bias given the failure of NFP to deliver good figures. This essentially throws off the FOMC on their plans to hike rates.
Technically, yesterday's price action confirms this idea with US ISM Manufacturing failing to deliver as well.
We're seeing a continuation of the regular programming - AUD, NZD strength, USD neutral, EUR...
EURUSD has been trying to trend up by making HH and HL but to buy the price at this level is just total suicide. 1.116 area seems to be a good place to pickup, based on trend line and horizontal support zone.
There's a short opportunity to short in AUDUSD at 0.783. Trade is still far from materializing. When it hits 0.783, I'll assess where my 2nd and 3rd entries will be.
Chart is rather simple horizontal resistance meets channel lines.
AUDNZD seems to be creating a near term uptrend based on the bounce off 61.8% retracement. I'm taking a trade at 1.05ish with a TP of 1.074.
Placing some limit orders below at 1.041 and 1.031 just in case the trend doesn't materialize and it becomes another bunch of animals (bat, shark, crab or monkey!)
AUDJPY role reversal resistance @ 77.4 broke to the upside mid July and went to test 81.45. Are we seeing another test of 81.45?
Recent moves have been printing higher lows. Price currently at support. RR seems good.
NZDUSD has been strong since the start of the year but it doesn't mean we don't get to take short trades especially when price reaches key fibonacci retracement levels.
If I try to plot a bearish butterfly, I can enter a short at 0.742 with a second chance to short at 0.752 which is the 50% retracement in the weekly.
This trade idea are for traders who set stop...
AUD has went up significantly for the past several days or even weeks. EUR has been pounded. EURAUD has higher degree of negative correlation with AUDUSD. Since AUDUSD has broke out, we're expecting to pullback for a retrace after hitting 113, 127 extensions.
With EURAUD now at weekly support, our bias is to go long on this pair. Today's move proved to show...