Fundamental bias: Bullish 1. Virus Situation The UK’s vaccination success has been a key driver of positive sentiment for GBP from the start of 2021 and has meant the county is on the verge of completely removing covid restrictions. One short-term negative is recent concerns about the Delta variant which could see a 2-4 week delay in the planned reopening...
Fundamental bias: Weak bearish 1. Virus Situation The outlook for EUR remains tied to the EU's ability to overcome its coronavirus pandemic. At present, the outlook appears to be moving from strength to strength as the EU is set to reach their goal of vaccinating 70% of their adult population by July. This means that one of the biggest hurdles to taking on a...
Prices are pushing down to make a lower low. If prices break through entry in line with 61.8% Fibonacci retracement and 50% Fibonacci extension fibonacci confluence area, prices might push down further towards horizontal swing low support in line with 100% Fibonacci extension. If prices bounce from fibonacci confluence, prices might push up towards horizontal...
Fundamental bias: Bullish 1. The Monetary Policy outlook for the BOC At the April meeting the BOC confirmed market’s speculation that they will start tapering their QE program, and followed through with a CAD1bln reduction per week. The bank also took a hawkish tilt by bringing forward their interest rate hike expectations to 2022 from 2023. The BOC is the...
Hi traders: Closely watching some JPY pairs as always, and EURJPY and CHFJPY are looking good for potential bearish reversal. We can see price continue to correct to the upside, but not in a impulsive price action, rather very correctively moving itself up. We can see price just broke the higher time frame double tops, and a smaller, LTF ascending channel has...
AUD, NZD & CAD: The AUD suffered the biggest outflow amongst the major with the CFTC data updated until Tuesday the 8th of June, which should arguably not be surprising given the prior outperformance in the currency before that happened. This week the focus for the AUD turns to the incoming Employment report where labour data has been touted by many as the most...
Welcome back! Please support this idea with a LIKE if you find it useful. *** EUR/CHF- I expect for price to correct to the 50% fib level from current support zone (highlighted) and then a possible Daily trend continuation. Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued...
See Signposts for key price action details. Position size reduced and target set lower given that this is a signal generated on this week's market open. Signal tends to be less reliable so take caution.
EURJPY Long Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bearish Trade scenario 1: Overall we’re bullish on EJ higher timeframes. But we are seeing the 4hour starting to pick up more bearish momentum. Ideally, to continue with the 4hour trend we need to see a break of our key support level at 132.750. To enter short we first need to see a...
this is wxy corrective wave structure. wave Y subdivided into abc, wave A has leading diagonal chart pattern which is followed by double zigzag making 61% retracement of wave A. is this leading or ending diagonal ? this will be confirmed by top and bottom of this chart pattern. if retrace more than 78% than it is ending diagonal and breakout of red resistance...
EURUSD continued to face resistance at the neckline level of 1.2185 and the price eventually fell. The short-term trend is pointing towards bearish as selling pressure continues to build up from near-high of the entire market range between 1.2340 - 1.1700 amid early tapering sentiment from the Fed due to persistently high inflation. This week, we will continue...
EURUSD could reach to 1.26800 based on this scenario.
EURGBP is trading between strong daily support and a descending trendline. The price after a few attempts never took a direction yet. We will wait for a clear break below the resistance or above the trendline to check the price direction. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue...
EURJPY after the recent high moved lower. The price is now moving inside a bear flag and according to Plancton's strategy if the price will break below we will set a nice short order. --–– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h...
Hey guys, Currently watching EUR/AUD which tested a demand level on June 7. I will looking to sell the breakout of this triangle pattern and will target the next fresh demand zone around 1.56500-1.56600 levels. The RR ratio for this trade is around 1.7 Trade with care Best, Jesse
EURCAD is facing bullish pressure from ascending trendline support in line with 50% Fiboancci extension and 78.6% Fibonacci retracement . Prices might push up towards horizontal swing high resistance in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement . If prices push down further, prices might take support on horizontal swing low support in...