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GBP/AUD ARE WE DONE WITH THE "M" RETRACEMENT ?We have a daily downtrend and we are approaching a strong level of resistance. I believe that the price will bounce from the trendline to complete his way downward. Also from a monthly timeframe we just completed a W formation pattern and the price is almost at the 50% FIB retracement, from that price we expect a strong rejection because it perfectly aligns with a strong resistance by the trendline. This is a 1/4.60 RR setup for the long term. If you enjoyed this analysis smash that like button and share. If you have a different opinion I would love to hear about it in the comment area below. Trade safe !! OANDA:GBPAUD
Short
by TheDayzen
3
XRP About to SlingshotXRP (Ripple) is not a crypto, it is a currency, and as such, it does not follow the rules of crypto. Once the last exchanges disable trading (29th Jan 2021), supply will decrease, and there will be no resistance all the way to $15. Once that is reached, the next target is $150. For now, people are panicking due to the SEC, exchanges are hurrying to disable trading (even after given a 5 year timeline to do it) - I find that really funny, because there is no judgement yet, only a mere allegation. The SEC settles things with fines, which will not be a problem for Ripple to pay. Additionally, the SEC might force Ripple to burn their tokens (60% of the total XRP supply). I'm sure you can guess what such a huge reduction in supply does to the value of an asset. -Hawk
BITSTAMP:XRPUSDLong
by Alien_Algorithms
12
short-term bullish dollar play UUPThe dollar has bounced off its bottom trend line. After having such a long period of weakening, it is due to bounce back a bit. It is extremely rare for the dollar to not reverse the trend after an extended period of strength or weakness. It may not rally back much, but it will give you some gains in the short-term. Sell half when it hits the upper trend line and let the other half ride. There have been some contrarian calls on Wall Street for a surprisingly strong dollar. UUP is a way to play the bullish dollar. I currently have a vertical call spread expiring 2/19 with the buy-strike being $24 and the sell-strike being $26.
AMEX:UUPLong
by EBITDAtiger
Weekly Watchlist Hey, all in today's watchlist we looking at the following Pairs: 1. AUDCAD 2. AUDJPY 3. CADJPY 4. CHFJPY 5. EURJPY 6. EURUSD 7. NZDCHF Most of these pairs are close to setting up, however, we are just waiting for a little more development on the intra-days before getting involved. Please share your thoughts, and feel free to ask as many questions. If you would like to make contact with us you can visit our website at www.weatlthtip.co.za or you can send an email to dean@wealthtip.co.za.
by DeanMuller
Types of Forex currency pairsCurrency pairs - two currencies between which trade transactions are carried out on the market. The relationship of currencies in a pair depends on the rate. So, the base currency is the one that is bought or sold. In the designation of a currency pair, the base currency is always indicated first. Quote currency - the way in which the price of the base currency is expressed. In the designation of a currency pair, the quoted currency is always indicated as the second one. Currency pairs are divided into groups according to profitability and volatility. Roughly speaking - by popularity. Majors . Currency pairs in which the US dollar participates, and the second currency is the national currency of highly developed countries. Cross-courses. Currency pairs in which the ratio of currencies is determined by their rate in relation to a third currency (usually the same - the dollar). Exotic. Currency pairs in which the dollar (or euro) and national currencies of developing countries are related. Exotic pairs are among the most difficult to trade as they have low liquidity. The volume of transactions for these pairs is relatively small. Beginners are not advised to work with them. ------------------- Share your opinion in the comments and support the idea with likes. Thank you for your support!
Education
by DeGRAM
10
BRITISH POUND BREXIT BREAKOUT!! LONG GBPJPY. 8R Trade!British Pound looking stronger on multiple currency pairs. In particular in the last several days with Brexit Deal. I think the GBP:JPY pair looks the best. Possible also SHORT EURGBP as the charts look pretty much INVERSE of this chart. Longterm Downtrend line just broken and retested on the daily TF. Bounce off support is breaking above recent high giving a BUY Signal Confirmation. MACD on Weekly, Daily, and 8 hr all 3 are breaking higher and above ZERO line signifying a new uptrend and Bullish Divergence. Markets closed right now. So, Order for Entry is BUY LIMIT order = $141.002. SL = $139.39. TP = $154.00 This is a longer term swing trade and 8R return. HIgh Reward low risk trade. Will update as I enter trade.
Long
by eganon69
1
US Dollar Outlook is BEARISHWith the massive money printing done by the federal reserve in 2020 with close to $4 Trillion dollars being printed the US dollar does not look good over the next few years. Dollar index looks to be starting a downtrend that could last for multiple years. With rallies taking place in the US equity markets and Bitcoin, currency and commodity markets are showing bearishness in the Dollar. Incoming candidate for FED chair Janet Yellen after leaving the FED : “We have a 2 percent symmetric inflation objective. For a number of years now, inflation has been running under 2 percent, and I consider it an important priority to make sure that inflation doesn’t chronically undershoot our 2 percent objective,”
Short
by UnknownUnicorn5478134
2
EUR/AUD-Daily overview Hello everyone! -On a daily chart, we can see that the price formed a very nice bullish engulfing pattern and that is a very good sign that the bull is gaining power. -We can also see that the price is respecting a strong support zone so that is another good sign to take a buy order. -The Stochastic indicator is showing us an oversold zone so we can consider that as an extra confirmation if we decide to go long on this pair. -Before taking action in Forex, please check the economic calendar and currency strength meter. -WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in the comment section! THANKS FOR READING! -If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support. -Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
by lCrn49
EUR/CAD Bullish Divergence at 78.6% Fibonacci Hello Fellow Trader! Multiple signals suggesting possible short-term upside for EUR/CAD but with moving average caution. Due to the moving averages fanning out, we would like to see price reclaim the 21 EMA for confidence to hit at least target 1. EUR/CAD RSI divergence and Fibonacci cluster is suggesting we may see this event occur towards the end of the Asian session today. Key Points: - Caution - Price holding below the 200 EMA - Caution - Price holding below the 50 EMA - Fibonacci 78.6% retracement (September low – September high) - RSI divergence at price lower low and RSI lower high - Bullish engulfing pattern supported with increase in volume - Watch price to break low again and produce another bullish candle reversal with volume increase at optimal entry price Key Levels: Support – 1.5500, 1.55150 Resistance – 21 EMA, 50 EMA, 200 EMA, 1.5580, 1.56525 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 1.55000 Supporting Entry – 1.55156 Candle Reversals for entry - Bullish Hammer - Bullish Engulfing - Bullish Piercing The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks below 1.54690 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 1.55000 – Target 1 1.5580 = 2.5x Reward to Risk Optimal Entry 1.55000 – Target 2 1.56525 = 5x Reward to Risk Supporting Entry 1.55156 – Target 1 1.5580 = 1.5x Reward to Risk Supporting Entry 1.55156 – Target 2 1.56525 = 2.8x Reward to Risk
Long
by tradetheday