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Currencytrading

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
EURUSD - Preparation of terminal thrustCurrent scenario seems to be a corrective move , that too in a triangular wave structure before the currency prepare gives a terminal thrust to complete its 1-2-3-4-5 impulsive wave. As of now the price will move up & likely to face resistance near the zone of 1.18500 which will complete the wave - d of the triangular wave. After facing the resistance , the currency pair is likely to take a support near the level of 1.1800 which will form the wave - e . After the completion of wave - e there will be another impulsive terminal thrust to complete wave (v) of 5 .
Long
by TradingSutra
9
USDJPY NEW UPTREND?Hey traders I am currently looking at USDJPY making a slight pullback before making another possible move to the upside. As you can see on the 4hr time frame we have had a big rejection from that 105.000 area and now looking like the bulls have this in an uptrend. For every trend we need to expect pullbacks before price continuing on to new areas, I have marked out 106.000 as its a nice round figure and has shown to be very supportive in the past, a pullback to this level could create another great risk reward and take this pair even higher. We do have some news this week that may influence this and show us some nice volatility within the market. As always plan the trade, trade the plan... have a good week!!
Long
by jamison_fx