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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
Closing in on a further Cable Short. Caught 100 Pips Signal was sent on Oct 4 for Cable short. 100+ pips caught, the current situation facing this pair is that cable is going for a restest of 1.3 price level. It would be best now to exit your short position, if you have not already, and wait for the double top to form at 1.3. With the volatility seen led by fundamentals surrounding last week's Brexit negotiations and Donald Trump's hospitalization creating a false crossover of the ema and sma indicators, it is clear to see that if you are bearish inclined on this pair this will be the optimal play: Wait. Wait for the pair to form a double top. Wait for cable to come back down to last months support at the 1.28 price level and then enter the short. There is a chance that cable could even lean towards the 1.35 higher resistance, but with the price action patterns forming it is more than 50% unlikely that a long will occur- especially as hedge funds now are seeking weakness in the pound to enter short positions based off the breakdown of the Brexit negotiations and the political instability surrounding this key fundamental. No, going into the last few months of this very unique year (to say the least) I believe 1.3 will act as a major resistance level for the pound, of course it is already a major price point for this pair. But of course the dollar strength hinges on the outcome of a presidential election which nobody can predict its effects on the financial markets... Best wishes,
Short
by Hardy_FX
Will the ECB reduce the value of the EURO?Eyes are on ECB president Christine Largarde tomorrow to see if she will echo her colleague’s concerns at the bank’s policy meeting on Thursday, as ECB policymakers warn that if the currency keeps appreciating it will weigh on exports, drag down prices and intensify pressure for more monetary stimulus, holding back on the Euros economic recovery. I am not expecting further reduction of interest rates just yet, but instead a firm word that actions will be taken if necessary, which could lead to bearish momentum. Continued upside dollar momentum is also a added factor, with recent risk off sentiment indicating a further shift of assets from equities to currencies So far it seems investors are attempting to price in Largarde attempt at reducing the euro /usd rate, with a break of the flag formation , allowing a great opportunity for a potential short on the re-test with excellent risk reward.
Short
by RaphFX
DOLLAR drop to low of 2018?In this chart I had to stop myself from drawing too many lines. The trendlines make it clear to see that the greenback is stuck in a steep, downwards channel. The RSI is trending upwards, possibly indicating that the DXY is overbought even while the price is trending downwards. After breaking past it’s downward sloping support at the 91 level, it has traded sideways in the downward channel and is about to hit the top of the channel. Personally, I’m not seeing any indicators of bullish price action, so I expect the price and RSI to hit resistance and fall. The RSI is about to get wedged between a resistance line and support line, so expect a breakout in either direction. A close past 94 might cause me to change my bearish outlook.
TVC:DXYShort
by Isaiahgr3
4