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Bias

EURGBP The Bias Of The DayThe GBP had a 1.5%-1.8% rally today and it needs to retrace if it want's to keep up this upmove. Euro on the other hand has been going down (fx eurusd) and is looking like a potential long especially if the us unemployment is worse than expected. Currently I am expecting just a pullback to 0.236 fib level. Technically: The price is at a support level. And if you would squeeze the chart you could see that it is also a multiple fib confluence zone. The position: I haven't yet entered but if it the price reaches 0.7233 before retracing to approximately my target I will probably buy. Event risk: Economic calendar www.forextime.com
Long
by Wizard
AUDUSD The Bias Of The Day[i ]EURAUD didn't let the audusd to rally as it went up a lot but now idepreciate nowt wiat-leastciate now or at-least not rally much more. That would let audusd to continue its rally and potentially to make those double bottom patterns complete. So yes, generally I think that DXY (USDOLLAR INDEX) will pullback some more and that commodities are likely to do the same for now, so audusd looks pritty good . ps( I personally will look for a buy but i need to see some consolidation and some divergence to be more sure.) (If you like my ideas please remember to like and perhaps follow, thanks, good day to you all !)
Long
by Wizard
EURUSD The Bias Of The DayEURUSD short term outlook remains bullish. Today at 14:00 UTC there will be ISM Non-Manufacturing PMI (Mar), which could move the eurusd pair up to ~ 60 pips or maybe more if the data is very surprising. There are no reasons, cut in stone, for my bias, but some of the core ones are : 1. eurusd pullback still has momentum and it seems like eurusds downside pressure is low at the moment. 2. The fed has become more dovish (recently). 3. US still has mixed economic data that in my opinion will be a negative factor for the dollar and will disallow it to continue its strong downtrend in the short term. (I'm not makeing any predictions about the pair. What I am doing at the moment is managing eurusd.) 4. If the eurusd rallies traders will look more positively on buying the s&p 500, that may be a reason for the FED to allow the usd to depreciate a bit till s&p 500 and others again make traction.. 5. And technically it makes sens at the moment there is a clear trend and a clear resistance later. If the price breaks the recent highs (resistance) at approx 1.010** ikt would open to itself a lot more of the upside. *. Sellers are likely to short at 1.010** and for that reason for small to medium cap traders it won't be a good place to go long as their selling is likely to push the price lower first and later I think it will go up but no bias for that for now so we'll see.
by Wizard
4
AUDUSD The Bias Of The Next 24hAUDUSD Bias At the turning point 1. If A double bottom with a bullish divergence forms. When going up 2. If the eurusd isn't falling while audusd is rising. The eurusd and audusd pullback's trends is still going strong and have proved themselves many times. Before shorting I'll look for this trend to be broken but for now it's still on. I rather loosing one or two times when trading the trend continuation trend than many trying to predict the top of the whole trend. Also Danske Bank agrees as according to fxstreet it has a bullish position on with a tp order at ~0.800.
Long
by Wizard
2
EUR/USD Bullish BIAS On Double Bttom +RSI Massive Divegence I've formed a new bias on eur/usd - in my opinion it's likely eur/usd is going to retrace after all it has been plummeting since 2014-05-08 and we are also a at a pretty big resistance level (to see that you can squeeze this chart or take a look at the weekly), we now how a possible double bottom with bullish divergence, massive one. So now may be the time eur/usd could finally retrace. Possible targets or end of this retracement in my opinion will probably, but this could depend immensely on fundamentals, be at the structure and fib .382 (of the the big move) level confluence. Now this is a bias and I will look for opportunities and good setups, I won't just buy now, because of it all. To enter a long position on double bottom i would first look at volume if it there a lot of volume this double bottom trade could be very risky and take out stop loss orders quickly and it could also rally, but i think that it would be smarter to wait for volume to get small and maybe then buy a lite bit, but remember as treider our own opinion is the most important to us AND THIS ALL IS OPINION NOT ADVICE NOT A CRYSTAL BALL PREDICTION I'M SAYING WHAT I THINK IS LIKELY TO HAPPEN. p.s. + additional indecision candles would be a good sign BEWARE OF THE NEWS and economic calendar events. Written by : Wizard, whit --> NO CRYSTAL BALL. US Dollar going down --> This would also be a catalyst for natural gas you may want to check out my idea about it can be found in the Related Link's Is Below.
Long
by Wizard
2