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Currencytrading

Watching divergence on USD indexUSD index has formed divergence. Looking at the daily chart, we can see a familiar pattern forming between price and the 10 CCI. This pattern is called regular divergence, which can tell us that a possible reversal could develop. In today’s analysis, we have run over the divergence pattern we are watching and Friday’s price action, which might give it more substance. From here, we would like to see a new move by sellers that breaks last Friday’s low, and this could confirm that sellers are in control and could look to take price back down to the moving averages. 103 could offer some resistance if reached by sellers, as it was a previous level of consolidation before the last breakout. Focus now will be on sellers and if they can back up Friday’s move with a new push lower. The US has a bank holiday today, which could also be another factor for short-term volatility. Good trading
EIGHTCAP:USDXShort
by Eightcap
EURUSD Bearish short term but strong buys lie below.The EURUSD pair is under the 1D MA50 for the third straight day, turning oversold on the 1D time-frame (RSI = 40.326, MACD = -0.002, ADX = 27.225). This is adding extra sellig pressure on the price with S1 being the first support on its way to lower trading levels. The Fibonacci retracement levels are particularly useful on this price action and assuming the pattern is a Channel Up since the September bottom, we reach the conclusion that a crossing under S1, will push the price to 0.236 Fibonacci and S2 where the 1D MA100 will offer relief and potentially the first wave of buyers. The second wave will be seen if S2 breaks, on the 1D MA200, that happens to be on the exact bottom of the Channel Up. We will buy heavily on those levels (1.0500 and 1.03500) assuming the 1D RSI turns oversold at 30.000, targeting R1 (TP = 1.0800) and then the upper Rs can follow. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
3
EURUSD: Scalping opportunityThe EURUSD pair turned neutral technically both on the 4H timeframe (RSI = 51.027, MACD = -0.001, ADX = 32.294) and 1D (RSI = 48.083, MACD = 0.000, ADX = 32.045) and that creates the conditions for sideways trading. Though the short term pattern may be a Channel Down, we will use the range provided by the Double Top and Double Bottom 1.07900 - 1.0670 to scalp for the rest of the week. This is more or less the 4H Bollinger Bands. Our buy trigger is a break of R1 (1.0800) and we will TP = 1.09150 and sell trigger the bottom of S1 (1.05740) and TP = 1.0500. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
EURCHF: Falling Megaphone rejected on the 1W MA50. Strong sell.The EURCHF pair is being heavily rejected on the 1W MA50, the 1D time frame has turned bearish (RSI = 42.235, MACD = -0.001, ADX = 20.466) and the target is now the S1 (0.97300). Only crossing above the R1 (1.009500) justifies a buy, in which case the target will be R2 (1.051500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
10
USDCHF: Multi year Head and Shoulders formingThe USDCHF pair is forming the Right Shoulder of a Head and Shoulders pattern. For many weeks now it has found Support and is turning sideways within the Shoulders Rectange and can trade within that range for as long as 6 months. This is an excellent sideways trading opportunity. Proof that 1D is technically neutral (RSI = 50.834, MACD = -0.001, ADX = 17.742). When broken, we will turn bearish aiming slightly above the S1 (TP = 0.89750) and S2 (TP = 0.88300). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
EURUSD: Short term update. 1H MA50 holding.Short term update for EURUSD on the 1H timeframe whose technicals are neutral (RSI = 45.855, MACD = 0.000, ADX = 34.784). The reason is this very well structured Channel Up that has just tested the 1H MA50. If it holds, target the 0.382 Fibonacci (TP = 1.0800). If the 1H MA200 breaks, start targeting the 0.5 Fibonacci and 0.618 Fibonacci. Short term strategy only. Invalidation below the 1D MA50. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
8
EURUSD: Best buy long term but 4H MA200 needs to breakEURUSD hit the bottom of the long term Channel Up, as well as the 1D MA50, turning the 1D technicals red (RSI = 46.112, MACD = 0.003, ADX = 28.557) for the first time since January 6th. That was coincidentally the last Higher Lows at the bottom of the Channel Up which kick started a +4.20% rally. The previous Higher Lows also made a +4.20% rally so it is a recurring sequence. Being also on S1, which is holding, we have entered a long aiming just under a new +4.20% projection (TP = 1.11000). The only obstacle is the 4H MA200 which is resisting rather intensively. Failure to break it validates the Jan 3rd - Jan 6th 4H RSI bottom formation, which means that there is one last low to be made before rebounding. We expect that to be on top of S2 near 1.0600, which will be our 2nd buy entry but with a lowered target (TP = 1.1000). If the bottom of S2 breaks, the uptrend is negated and we will turn net short first to S3 and then to the 1D MA200. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
AUDUSD: Hit the 1D MA50 and reboundingAUDUSD hit yesterday the 1D MA50 and today at least before Powell's speech, was staging a big rebound. That hit was also made at the bottom of the long term Channel Up started in November. With the 1D technicals neutral (RSI = 49.300, MACD = 0.004, ADX = 28.417), we see this as a good buy entry, targeting on the long term just under the R1 (TP = 0.71350). The short trigger is the 1D MA200, aiming at the top of S1 (TP = 0.66800). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9
GBPJPY: Excellent sideways opportunityGBPJPY is bearish on the long term as it remains under the 1D MA50 (right chart) with technicals all in red (RSI = 41.765, MACD = -0.860, ADX = 25.857) despite trading within a range since the end of December. This range is practically what we want right now as the sideways price action offers the best scalping opportunity for at least the next week. The price is approaching S1 where we will long to R1 and reverse to a short. Repeat until either the top of R1 and bottom of S1 break. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
7
AUDCAD : Bull tunnel entry post 9 week breakout up! 30.5Simple technicals combined with a broad perspective. 1) Resistance trend-line ongoing since April 5th was broken 24th may, indicating bull trend initiating. 2) Since breakout, connecting lows and highs are parallels indicating a consistent up-trend in the shape of a tunnel. The range of the tunnel is 0.980 to 0.916 , current rate is 0.911. A break below 0.980 with a daily close would confirm downside potential to 0.9000. So buying now and placing a stop lower than 0.980 is the first option with a TP at 0.916. Second option is to to wait for a 4h candle close break above 0.916 and TP at 0.9222 with a SL back below at 0.9135. --------------------------------------------------------------------------------------------------------------------- I hope you this was helpful! If you found that it was, please like and follow! Would truly mean a lot. Thank you so much for reading - I encourage you to ask questions, make comments.. I promise to reply to each one. I am not a financial advisor and it's best to make your own research and trade cautiously. ----------------------------------------------------------------------------------------------------------------------
Long
by Exactus
7
EURUSD: Topped on its Channel Up after the Powell rallyEURUSD rallied heavily following the projected 0.25% rate rise but more importantly a dovish tone from Fed Chair Powell. Typically the first euphoric reactions are already priced in, technically the price reached the top of the Channel Up that goes as back as November. Turning overbought technically on the 1D time frame (RSI = 70.995, MACD = 0.008, ADX = 49.037), as well as having the 4H RSI rejected in a similar pattern as Jan 12th and Nov 15th, we take that as a sell opportunity and aim at the 4H MA50 (TP = 1.0915). If crossed we will extend selling to the HL trendline (TP = 1.08350) where we will place a half-sized lot buy aimed at the March 31st High (TP = 1.11700). The 2nd half of our buy sequence will be at the bottom of S1 (1.07200) which happens to be the bottom of the Channel Up as well. Breaking of S1 would mean two potential tests of S2 and S3 before the market settles and neutralizes the December-January rally. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4