Price in Downtend, currently price is retracing from last impulse breaking up the last resistance giving us an opportunity to enter long
AUD/CAD finds stiff resistance at 20-DMA. Stochs and RSI support upside. We see bullish divergence on Stochs. Focus on RBA Meeting Minutes along with the latest Australia Unemployment numbers for September. 5-DMA is immediate support at 0.9241, break below will see resumption of weakness. Stay long above 20-DMA, SL: 0.9240, TP: 0.93/ 0.94
This pair has fallen quite a bit, but it looks like it might still have one more leg of decline left. After bouncing up from the strong support level, prices were unable to stay up long, and ultimately formed a bearish pin bar. Since prices were rejected on the upside, there is a strong possibility that prices will head down to test the support again.
EURGBP is approaching its resistance at 0.8854 (61.8% Fibonacci extension , 50% & 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 0.8792 (50% Fibonacci retracement , horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 91% where a corresponding reversal could occur.
PS: PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
USDJPY is testing its support at 112.191 (100% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement and horizontal overlap support) where it could potentially bounce to its resistance at 113.494 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its support at 2.32% where a corresponding bounce could occur.
GBPAUD is approaching its support at 1.8393(100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.8519 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.
Since July this year AUD/CAD is in an downtrend channel. Likely, it will touch 0.93 and go down to around 0.90-0.905. AUD had some up movement because of lower oil price. (CAD red line at currency indicator, AUD green line)
The Tidal Shift Strategy has just bought EURUSD at 1.15738. The system recommends entering this trade at any price between 1.1556 and 1.15916. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.12707, which suggests that the EURUSD could be trending upwards.The 14-period...
The US Dollar Index has hit our first initial target at 95.00 levels as seen here. One could witness a corrective pullback from current levels, probably towards 95.40 or up to 95.80 levels, before the drop could resume and accelerate further. Looking at the wave structure, the US Dollar Index seems to have completed Waves A and B within the expected A-B-C drop...
GBPJPY is testing its resistance at 149,00 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support 148.14 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
Gold rally towards $1196 levels instills further confidence that a higher bottom could be in place at $1182.66 levels already. The yellow metal may not produce another low before rallying further towards $1250/70 levels, going forward. Also, another push through initial resistance at $1208/09 levels will confirm that the yellow metal is in control of bulls and...
USDCHF is approaching its support at 0.9859 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9947 (horizontal swing high resistance). Stochastic (89 5, 3) is approaching its support at 1.6% where a corresponding rise could occur.
This pair is now at a long-term major support level, which goes back all the way to 2013. This means the R/R is pretty good to take a long position, as the top of the range is around the 1.03 level. I have already taken a small long position, and will continue to add on if the price continues to head higher. Good luck!
The Tidal Shift Strategy has just sold NZDUSD at 0.64911. The system recommends entering this trade at any price between 0.64804 and 0.65017. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at 6.6195, which suggests that the NZDUSD could be trending downwards.The 14-period Average...
GER30 is approaching its support at 11779 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 12460 (38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) is bounced off near its support at 3.3%.
NZDUSD is testing its resistance at 0.6503 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance) where it could reverse down to its support at 0.6453 (61.8% Fibonacci retracement, horizontal pullback support). Stochastic (55, 5, 3) is approaching its resistance at 97%.
The EURUSD pair had dropped to marginal fresh lows yesterday to 1.1460 levels before pulling back. This case was presented as an alternate scenario, and still 1.1450 cannot be ruled out, before the rally could resume. Please note that if EURUSD manages to get past initial resistance at 1.1550 from here, it could a confirmation of a meaningful bottom already in...