The Congestion Opportunities Strategy has just bought USDJPY at 112.939. The system recommends entering this trade at any price between 112.818 and 113.06. The signal was issued because the 28-hour Relative Strength Index indicates that the USDJPY may be oversold, while the Speculative Sentiment Index reading of -1.381 indicates that trader sentiment is not at...
CAD experiencing very little activity today as it is also a holiday in Canada leaves room for stronger currencies to gain some ground. AUD has had a lovely start to the week with a strong bullish push in the early hours of the day. If price breaks 0.91859 and closes above that zone it would be a great opportunity to enter the market to grab 30 pips at the Zone 2....
The EURUSD pair hourly chart view is suggesting that a meaningful bottom might already be in place around 1.1463 levels on Friday. Also note that EURUSD had bounced from a fibonacci 0.618 support of the previous rally as shown on the chart view. If the above structure holds good, we could see higher tops and higher bottoms from current price action and ideally...
The Tidal Shift Strategy has just sold EURJPY at 130.963. The system recommends entering this trade at any price between 130.726 and 131.2. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at -1.625, which suggests that the EURJPY could be trending downwards.The 14-period Average...
Gold might have placed a meaningful bottom at $1180/50 levels earlier. The yellow metal is drifting sideways for now, carving a lower degree wave iv, expected to stay above $1192 levels going forward. If this structure stays, Gold prices could push towards $1213 and $1216 to complete its impulse before correcting lower again. Overall, once gold prices break above...
The US Dollar might have placed a meaningful top at 96.12 levels yesterday, before reversing sharply lower. It is too early to begin wave counts but at a lower degree, potential waves i and ii could be in place (not shown). If the short term structure stays, we could see a sharp decline from current levels towards 94.94 and further. Looking at the medium wave...
The Congestion Opportunities Strategy has just sold USDCHF at 0.9922. The system recommends entering this trade at any price between 0.99068 and 0.99372. The signal was issued because the 28-hour Relative Strength Index indicates that the USDCHF may be overbought, while the Speculative Sentiment Index reading of 1.45743 indicates that trader sentiment is not at...
The Breakout Opportunities system has just bought USDJPY at 113.877. The system recommends entering this trade at any price between 113.789 and 114.016. The signal was issued because the USDJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.87, suggesting that the USDJPY may have further to rise. A stop loss has been set at the 24-hour...
The Breakout Opportunities system has just bought EURJPY at 131.888. The system recommends entering this trade at any price between 131.605 and 132.104. The signal was issued because the EURJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.993, suggesting that the EURJPY may have further to rise. A stop loss has been set at the...
The US Dollar Index has now rallied almost 200 points and has met our minimum projected expectation at 95.70 levels yesterday. Believe it or not, the short term rally that was anticipated could be complete at 95.75 levels, or very close to termination. Looking at the wave structure, an expanded flat corrective a-b-c also looks to be potentially done. If this count...
GBPJPY is approaching its support at 147.06 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 148.28 (61.8% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
Buy above 115.29. Stop loss at 114.71. Take profit at 116.28. Reason for the trading strategy (technically): CHFJPY is approaching its support at 115.29 (100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 116.28 (38.2% Fibonacci retracement, horizontal swing high...
The EURUSD is well into its last leg lower, within the expanded flat wave structure a-b-c labelled on the chart here. The currency pair could have either formed a meaningful low yesterday at 1.1563 levels or it is very close to terminating wave c at 1.1500/50 levels. We have highlighted a potential buy zone for EURUSD in a rectangle on the hourly chart. Please...
AUDCAD is approaching our first support at 0.9381 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 0.9422 (horizontal overlap resistance, 38.2% Fibonacci retracement). Stochastic (34,5,3) is also approaching support and we might see a...
The US Dollar Index has broken above its line of immediate resistance depicted on hourly chart here. The index is seen to be trading around 94.50 levels at this point in writing and could be targeting 94.80/95.00 resistance zone immediately. Structurally, the US Dollar Index could be well under its way to carve an expanded flat a-b-c (not highlighted here),...
AUDCAD is approaching our first support at 0.9422 (horizontal overlap support, 38.2%, 61.8% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 0.9478 (horizontal swing high resistance, 61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure in...
The Trend Follower Strategy has just bought USDJPY at 112.773. The system recommends entering this trade at any price between 112.663 and 112.883. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.512. This suggests that the USDJPY could be trending upwards.The 14-period Average True Range on a daily chart is...