EURUSD - Trying to touch the monthly trendEURUSD has fallen last week and it will continue droping other 100 Pips until touhing the monthly trend (red line). The question is if after that it will break out or reverse.
100pips
USDJPY SHORT OPPORTUNITY H1As you can see, there will be a correction on USDJPY should go up to the trendline and resistance level, enter with a good candlestick pattern and then price should make lower low even to the demand zone around 104.170.
Entry - 105.250
SL - 105.770 (52 pips)
TP - 104.200 (105 pips)
Good Luck !
US Dollar Range Analysis & 100 Pip Buying OpportunityThe dollar is in a defined range of 12050 - 11950 and is likely to trade below 11975 next week, price action below this level is subject to buying pressure (support) which will allow for a buy trade with a target of 12050.
A buy on the triple tested support of 11950 will open a trade worth 100 points as price is likely to follow the range back up to the triple tested resistance at 125050.
Look to take profits on a buy trade at 12025 as price is subject to selling pressure at this level.
100+ pips on USDJPY comingThe weekly pivot on USDJPY is looking very appealing right now, we should see a move up on this pair sooner than later. The current weekly pivot looks very nice for a near term target. I would like to see one more push lower before buying these dips, I like the 1 hour trend line as well.
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GPBAUD Spike Trade Rejection or BreakThese spikes are starting to show strong rejection. There is a trend line bringing the price up, and with a change in the head of the Reserve Bank of Australia, anything could happen. The blue rectangle represents the unknown zone. I would suggest targeting the short term short, and put your stop loss at the top of the blue rectangle. If the price closes above the rectangle, close the short, and go long, otherwise, stay short and target those 100 pips. If price breaks the blue rectangle, it will easily cover your loss on the short position and still give you profit. There should be profits either way.
GBPAUD: The Uptrend ContinuesHi trader,
GBPAUD has been in a strong uptrend for the last two weeks. The breakout of 1.9450 suggests to me that this pair is likely to continue higher into next week. Trend following traders may already be long on the break (if so, well done, now just hold on!). If you have missed it, a more conservative play is to wait for a pullback to the breakout point of 1.9450 and look for buying opportunities.
If you don't regularly trade Pound Aussie be aware that it is a rather volatile crosspair and can easily move 100 pips in a short period of time (like it did 5 minutes ago with RBA rate statement release).
Good trading and have a great weekend,
Luke
