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Currencytrading

Double Top Or Higher High? What Do You See?Double tops and higher highs can be synonymous to some traders. I believe that is ok, but they both speak to different Technical Analysis. A trader who trades may not recognize the higher high as following the trend, but rejection. Where as a trader who trades higher highs may see the high as buyers pushing the market higher and will wait for a pullback. I created this video to speak to the technical side of both based on a students price chart. He is doing an amazing job simplifying is trading strategy and I loved his POV. Let me shout out my community Trade On Purpose(recently known as Swing Trader Society). You guys are awesome and I'm grateful y'all allow me to help. Let me know in the comment section below. What do you see, a double top or a double bottom.
Long
by ShaquanLopez
1
AUDUSD continues to hold at a last line of defence.Hi, thanks for tuning in for today's update. Today we're looking at the AUDUSD as, despite Tuesday's crunching price, contuse to hold at a well-established demand and support area. There are a few things happening with the AUDUSD atm. First, we can see firm support at the 6720 area. We can also see OBV presenting rough divergence, but it's not what you would call a classic example. Tuesday's sell-off could be an overreaction and possibly an exhaustion bar. For us, the case is rather simple. While the support area holds, we will look for buyers to continue to hold out and possibly set up a new move higher if they can gain momentum. A lot will come down to the USD for this to happen. If price breaks support, we will look for further downside. A leading factor to watch out for today is US retail sales, and a hot figure could boost the USD as the market remains sensitive to inflation. US retail sales data will be released today at 8:30 am EST. As always, we like to hear back from the community. Please feel free to share your comments about the AUDUSD or the USD. Have a great Thursday and good trading.
by Eightcap
EURUSD and GBPJPY set to continue their moves lower? Welcome to Monday’s update. In today’s video analysis, we’re looking at the EURUSD and GBPJPY on the short side. Friday’s employment data came out mixed, and while we did see a short push higher sellers took control in the NY session, setting up a fade into the end of the week. USD momentum has continued so far on Monday, with the risk majors trading lower after early attempts to push higher. The EURUSD could be confirming a new continuation lower after last week's LH. A break and close below last week's low could tell us that the current downtrend is set to continue. The GBPJPY has returned to the base of its descending triangle pattern, and if sellers can break out and hold a close lower, this could be a new downside breakout. We really want to see a firm lower close as we have seen a few examples of false breaks going back to June this year. What are your thoughts? Please feel free to give us your feedback or ideas if you think differently or if you see something we have missed. We thank you all for stopping by and wish you a good week. Good trading
Short
by Eightcap
2
Could today’s NFP confirm the USD breakout? Hello all, welcome to today’s update. Today’s video focuses on the USD index after buyers made another strong move in yesterday’s NY session. In today’s video, we run over the price current price action and trend structure after buyers made a breakout yesterday, clearing 109 resistance that held buyers back during this week. The USD continues its fantastic run in 2022 as Fed policy maintains buyer demand. Price jumped to new 2022 highs yesterday and continues to track nicely on its current fast trend. Attention moves to today’s US employment data, as this could maintain the run or lead to a pullback as traders will be waiting to see if we see another hot payroll figure. The last several releases have beaten expectations and come in hotter, so if we do see this pattern continue, will this be the confirmation for yesterday’s resistance break? We think a lower figure will most likely have a negative effect on the USD index and could cause a failed break. Attention could also be on major risk currencies like the EUR, AUD and GBP as they sold off yesterday, and if we see another push higher on the USD today, this could continue their pain. Tonight’s US employment data will be released at 10:30 pm AEST / 8:30 am ET. Thanks for stopping by to check out our latest analysis. Enjoy the rest of your day and your weekend.
EIGHTCAP:USDX
by Eightcap
EURO USD LONG EUR/USD LONG TO 1,35 As per technical side SANK as per 1M Stoch RSI. That factor will certainly prevail which will cause stronger EUR and regaining the ratio in a favor of EU currency. *MACD. multy cross on 1W *1M KDJ bottomed. *RSI hit the bottom on 1M timeframe. Strong EURO will make Europe less competitive and leading towards implosion in certain timeframe (strong currency, bigger export prices, unable to " compete" and participate "under same conditions". ECB made 2 stimulation packages in an amount of 500 bn + 250 bn euros in order to increase liquity. US added few trillions too, now continualy increases interest rates. As every other stornger economy, Europe will become less competitive, (gas price is 3000$) and so on. Petro dollar benefits from this, but, eventualy, US economy will collide and EU will follow.
Long
by milanjelic
13
USDCAD setting up for a new push higher? Thanks for stopping by for today's update. Our focus is on the USDCAD as buyers look to be finding new support after last week's range breakout. The USD has been up, and about recently, we saw the USD index hit 109 yesterday, testing July high. Buyer momentum was short-lived as sellers took control in the NY session, sending price to a lower close, the first in seven sessions. The USDCAD had shared in the recent bullish momentum, hitting 1.3063 yesterday before the USD lost upward traction and oil made a solid rally. Oil is a big factor for this pair, and typically when it's stronger, the CAD is firmer, so the USDCAD can trade lower. Last week as the USD made its charge, we saw the USDCAD break above its range at 1.2930. From that point, price continued to rally for four sessions. Yesterday was the first decline since the breakout, and it was a decent one (-0.82%). Price today has seen demand, and we are seeing higher prices that have found support from the previous breakout point, also maintaining the current uptrend. These are bullish signs, but we need to see yesterday's low hold. If we do, we will continue to look for the current trend to continue higher. But, if we see a new decline that breaks below the green box (shown on the chart), we could be looking at a deeper lower reaction, which could also confirm a trend break. Pressure is now on buyers to hold today's rally and continue to trade above 1.2935. Thanks for reading today's update. We hope you enjoy the rest of your Wednesday.
Long
by Eightcap
2
EURGBP takes first step, but will we see a new continuation?Hi, and welcome to Thursday’s update. In today’s video, we are focusing on the EURGBP. Price formed a solid bar higher in yesterday’s session and could be the start of a new continuation. Price continues to trade outside the downtrend, and we could be seeing a possible start of a new uptrend after yesterday’s solid close higher. We want to see a break of the current resistance level (.8453) and a break of the existing supply area that runs up to .8470. If buyers can clear these levels, we will be looking for a new continuation to be confirmed. If the trend does continue, we would be looking at .8533 as the next point of resistance. The GBPUSD is also a factor, and we will be looking for a break lower on that pair to help boost the case of the EURGBP. A close back below .8435 would suggest that this pattern could be failing, and traders may need to give the market more time. If you have any thoughts on this pattern or on the EURGBP, we would love to hear your feedback. We hope you are enjoying your Thursday and good trading.
Long
by Eightcap
GBPNZD-- Skillset demo on 1H TF scalp trade (6:1 RR)I do not typically entertain intricate/unreliable unit analysis using small timeframes. This is simply because "The closer you look, the less predictable the behavior becomes". I will not be referring to the much more imperative timeframe analysis' (1W, 1M, etc.) that I have drawn up (and partly visible) regarding the GBPNZD on this posting, not sorry. Nevertheless, I do feel compelled to demonstrate that it is possible for market participants to identify and react to small timeframe price action and produce a net gain.. Even if the risk is taken using a data set analysis done on what has been proven an extremely unreliable keynote of units; those being the 1H & smaller timeframes. How, you ask? Well, first lets just be completely clear: In my experiences, price closes should not be considered or reacted to on any units if they are smaller than a 4H unit. A trade made on a small timeframe is called a "scalp", and though many people may disagree with me here, I am calling this trade idea on the 1H timeframe a "scalp" trade.. The first thing we should notice when looking at the chart shown above is the strong reaction to the price area of 1.878 (+/-), & a clean impulse, followed by the consolidation of price movement-- this is where we are currently trading. Although many traders prefer to utilize swing levels (lol) when drawing Fibonacci retracements, I have found my success in the markets as well as confluence with other types of indicators and comparable analysis' when I retrace "clean impulses", or 3+ green or red candles in a row (Plus, the candles on either side of the clean impulse), as opposed to retracing full swings. A clear example of this approach is well demonstrated on this publishing. Please let me know in the comments if you would like more information on how I use Fibonacci theory to find success in extracting value from a market. One of the many first principles I always apply when scalp trading is "the target is the pullback", which is what I am confident is taking place on GBPNZD as I write this. Although there is PLENTY of potential for price to hit levels lower than the .618 retracement level, the reduction of risk and security of net gain takes place then (immediately), which is much earlier and more conservative than if I was taking a risk while applying a higher unit analysis and data set. This is how you can net gain in such unpredictable data sets. After all, it is the target... Happy trading, and good luck!
by Bobbyusesfib
2