Get started

Currencytrading

EURAUD confirming an Ending Diagonal Pattern? Today’s focus EURAUD Pattern Ending Diagional Possible targets 1.6045 - 1.5905 With the AUD pushing higher on Tuesday, pressure has resumed on the EURAUD. Price looks to have formed an ending diagonal, and today sellers have started to confirm the pattern with a new move breaking the pattern. Ending Diagonal patterns are best seen at the top of trends and can be a forewarning that a change in momentum is on the cards, but we need to see the pattern complete and be confirmed by a breakout. From here, we want the break to continue with a new move down to the target areas confirming the move. Traders should be wary of a new fightback that closes back inside the ED pattern. A lot will come down the AUD and if it can continue to hold its current run. Good trading.
Short
by Eightcap
Dollar vs Yuan Divergence US Dollar vs Yuan or US Dollar vs Offshore Yuan, technically they are establishing divergence. Above chart is my projection in time to come. When Dollar vs Yuan moves lower, this means we are seeing a weaker Dollar and a stronger Yuan. See the following link for its video version. The Chinese yuan, also known as RMB, is the official currency of China. It is used both onshore in mainland China and offshore in international markets. The offshore yuan, also known as the CNH (Chinese yuan - Hong Kong), is the version of the yuan that is traded outside of mainland China. It is traded in offshore financial centers, such as Hong Kong, Singapore, and London. The offshore yuan is not subject to the same restrictions and regulations as the onshore yuan. The main difference between the onshore and offshore yuan is that the onshore yuan is subject to capital controls imposed by the Chinese government, while the offshore yuan is not subject to these same restrictions. This means that the offshore yuan is more freely tradable and can be used for a wider range of international transactions, such as international trade and investment, while the onshore yuan is more restricted in its use. Offshore Yuan - Standard-Size USD/Offshore RMB (CNH) Outright: 0.0001 per USD increment = 10 CNH MICRO USD/CNH FUTURES 0.0001 offshore Chinese renminbi per USD CNH Option Google search: USD/CNH Monthly Options Contract Specs - CME Group Google search Frequently Asked Questions: USD/CNH options - CME Group Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:CNH1!Short
by konhow
2
USDCAD: Strong buy opportunity near the SupportThe USDCAD pair crossed under the 1D MA200 last week and is approaching S1 on a very bearish 1D technical outlook (RSI = 38.120, MACD = -0.005, ADX = 45.239). The two day bounce on the HL trendline and the fact that the 1D RSI hit the bottom of its Channel, constitute a short term buy opportunity targeting the 1D MA50 (TP = 1.35450). If a candle closes above the 1D MA50, we will buy again the breakout and target the LH trendline (TP = 1.37545). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Is AUDJPY set to take a short-term pause? After days of buying, we are seeing a small pause at this point in the day. The AUDJPY has started to see some red after a 5-day rally. Price is stalling at a previous level of resistance, seen at 89.90. We still see price on an uptrend with a break of the last downtrend. But buyers need to clear this resistance point to get the trend back on track. The MA supports the uptrend, as does the CCI being above the 0 line. A lower high has formed on the CCI, but our main focus will remain on price and the current level of resistance. If we see a higher break, we will look for a test of 90.50. If resistance can hold buyers and we see anew new move lower, we want to see the trendline hold, or it could be a sign that sellers are planning a deep move. Good trading, and enjoy your weekend.
Long
by Eightcap
EURUSD: Sell opportunity approachingThe EURUSD pair is near the top of the 4 month Channel Up with the 1D timeframe technically bullish (RSI = 66.302, MACD = 0.007, ADX = 34.138). When the RSI turns ovebought at 70.000 (or close to it), we will have the ideal conditions for a sell. We target the 0.382 Fibonacci level of the Channel on the short term (TP = 1.08850). If S1 later breaks, we will reshort and target the 1D MA50 and Fib 0.618 (TP = 1.07750). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4
EURGBP Bullish signalEURGBP is trading inside a Triangle with its bottom being Support (1). This Support held on April 4th and the pair is rebounding. Today's pullback gives another buy opportunity. Trading Plan: 1. Buy for as long as the price is closing over Support (1). Targets: 1. 0.88225 (under the MA50 (1d) and within a +1.10% rise and Fibonacci 0.382). Each of the Triangle's previous Highs broke over a Fibonacci level. Tips: 1. The RSI (1d) is under a 2 month Falling Support. Keep an eye for the long term. A crossing over it, may signal a long term bullish breakout over the Triangle. Please like, follow and comment!!
Long
by TradingBrokersView
5
GBP/USD Breakout: Aiming for 1.30000 - Long OpportunityToday, we have observed a significant breakout in the GBP/USD market. The currency pair has managed to move beyond the resistance level, as illustrated on the chart. The daily candle is about to close, solidifying this breakout. Our focus now shifts to the descending trendline visible on the 3-month chart. This trendline represents the next critical target, with a potential meeting point around 1.30000. For traders considering a long position, a potential entry point could materialise following a successful retest of the recently broken resistance level, which now serves as support (in the range of 1.24000 - 1.24500). Trading Plan: Watch for a successful retest of the 1.24000 - 1.24500 zone as support. Enter a long position upon confirmation of support. Set a stop loss below the support zone to minimise risk. Target the 1.30000 level, where the descending trendline could intersect with the price. Always trade with proper risk management and remember to carry out your own analysis before taking any positions. Stay tuned for more updates, and happy trading!
Long
by JoelWarby
GBPJPY fightback set to test resistance? Hi traders, hopefully, you all had a pleasant weekend. Oil is the big story today, but from a technical point of view, I need more time before I can get some sort of idea on it. Yes, there could be a gap fil play, but that’s a bit of a dart at the wall, in my opinion, at the moment. Risk has started forming a solid little fightback to the JPY. The Yen started the day with some decent gains to the risk majors. We are taking a look at the GBPJPY below as buyers look set to retest resistance, seen at 164.40. This level and above has held buying back since February. The overall price is grinding, but we do have a higher low and a rough trend in play. Will buyer momentum continue into the London session? Will GBPJPY buyers break above 164.40 resistance and set up a new breakout higher? Good trading
Long
by Eightcap
1
EURUSD: Bullish as long as the 4H MA100 holdsThe EURUSD pair saw a short term pull back to the 4H MA50 on Friday turning that time frame neutral (RSU = 50.420, MACD = 0.002, ADX = 38.536). As long as the 4H MA100 and the RSI's HL trendline hold, we will remain bullish and target the 1.5 Fibonacci extension and R2 (TP = 1.10350). The long term pattern remains a Channel Up. We model those levels after the November 15th - 28th fractal which was on a similar RSI HL trendline. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
6
USDJPY signs that could point at a new push higher. Hi, thanks for taking a look at today's update. Today we are looking at the USDJPY as it's a good example of multiple signs that could show a new push higher. Sometimes the more evidence you have to back up an idea, the better. Sadly, that won't be a guarantee it will work out! The majors continue to see a sold session to the JPY today. The GBPJPY posting a break above resistance and outside of its downtrend. Looking at the USDJPY, a few things have our attention today that could be pointing to a new push higher. First, we can see classic divergence on the CCI, and we like to see price confirm the divergence as it can give false signals on its own. We also see price breaking minor resistance and the downtrend with a nice false low on the 24th, combined with support at 130.50/60. All of these together give us lots of ammo that buyers could regain control. What we need now is a nice push higher that gives us confirmation. If buyers continue to hold momentum, we will look at 132.52 and 134.50 as resistance. If today’s bar fails and we see a close below 131.55 minor resistance, this could be a warning and could be telling us buyers don’t hold the numbers yet. Let us know your thoughts and good trading.
Long
by Eightcap
EURUSD Channel Up pushing to the two ResistancesEURUSD is trading inside a Channel Up pattern that is supported by the MA50 (4h). Following a Golden Cross, this trend is expected to continue to a Higher High. Trading Plan: 1. Buy as long as the MA50 (4h) holds. 2. Buy again if Target 1 is hit and the price pulls back to the MA50 (4h). Targets: 1. 1.09300 (Resistance 1). 2. 1.10325 (Resistance 2). Tips: 1. The RSI (4h) is on a Rising Support for a whole month. Strong indication of a bullish trend. 2. The Golden Cross is on a symmetry with February's Death Cross. Strong indication that the Resistance (2) gap will be filled. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
Long
by TradingBrokersView
5