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USD/CAD High probability short!!!TOP DOWN ANALYSIS WEEKLY TIMEFRAME It has been an exciting time! we have see quite a rally to the upside, creating "higher highs" and "high lows" .But recently we have seen price creating a high low perfectly on the golden fib level 61.8% but lacked momentum to push it more high to the required target level 1.4000. so price drop 3 times to retest the demand level and price seems to range in between 1.33500-- 1.3000.But still our bias is still on the upside on weekly DAILY TIMEFRAME if we look at market structure we see market respecting "lower high " at 1.34300 and ''lower low'' at 1.30150 which we can see price retracing at 78.6% to the golden supply level around 1.33500. PAY ATTENTION TO THE PSYCHOLOGICAL LEVEL(SUPPLY LEVEL) we see a lot of sellers at the level and rejection .this giving us more confidence for a potential short H4 and H1 TIMEFRAME all you have to look at is break of structure and how it is formed and how volume is flowing at those key level, wait for a potential rejection or wicks on the psychological level 1.33500 and i highly suggest proper risk management. this is one factor that separates retail trader from institution traders Target 1-1.32000 Target 2-1.31100 target 3-1.30500 Happy trading and thanks for your support
Short
by ShinForex1
2
EURNZD– Sellers are working on potencial sell because...EURNZD– Sellers are working on potencial sell because... Trend: Strong Sell Support/Resistance R3: 1.73495 R2: 1.72749 R1: 1.72124 S1: 1.71437 S2: 1.70602 S3: 1.69815 S4: 1.68599 Price action Sellers are working on potencial sell because of weak eur currency on the other side. Sellers has to break S1 and then will be even more stronger then, they are now. Nzd currency is same showing good power from overall perspective, which made this currency pair more attractive to trade. Potencial trade idea Bulls targets: T1: 1.72749 T2: 1.73495 Bears targets: T1: 1.70602 T2: 1.69815 T3: 1.68599 NOTE – We are trading EURNZD via the preferred trading setups ELITEFXACADEMY Disclamer1 : We have to wait for a currency pair to trade after news are reliased. This might be a short correction, or price will give us moving dirrection after news are reliased. Disclaimer2: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Education
by EliteFxAcademy
GBP/USD consolidate in the triangle. Waiting for a big burst!Today our focus Shifts to the Pound. As you can see GBP/USD is moving in a bearish price channel since the end of October. Now the price also consolidate in the triangle, formed on 4-hour chart. At the same time the pair is at critical point struggling around 1.2845. Because the area of 1.2835 - 1.2848 is a dense cluster of levels including the Bollinger Bands 4-hour middle line, the Simple Moving Average 100 on M15 timeframe, the M15 200 SMA, the 1-hour 50 SMA, the 4-hour 10 EMA and the Fibonacci 38.2% on the daily chart. If the price broke below the triangle, we can see the bears to test their next target at 1.2837 before potential further rebound to be seen. On the upside, if the bulls make a clear break above the triangle, the price can test the upper trend line of the bearish channel around 1.2920 before to extend the rally up to psychological 1.3000 level. Fundamentally, take in mind that today is another busy day ahead on the data front. Key stats include October retail sales figures that will influence the Pound. Disappointing numbers would fuel further speculation of a near-term BoE rate cut. The Pound has stood up against quite dire data this week, supported by the general election opinion polls. It’s unlikely that the Pound would be able to stomach dire numbers today, however. What is your trade here?
by ForexTrendline
USD/JPY Four Support Lines and Something Else?!The US dollar has initially tried to rally during the trading session on Wednesday but then broke down towards the 200-day EMA. At that point, it’s likely that the US Dollar trying to find support and the market could explode to the upside with some kind of “risk on” type of situation. Beyond that, there are a whole host of issues to think that the market may struggle to break above the 50% Fibonacci retracement level (on the fall from 114.55 to 106.41). At this point, the market can break above that level 109.50, then it’s likely that we could see a significant move higher. That being the case though, we would need to clear the 110 level to have the signal that we are going much higher. All things being equal, looking at the 50-day EMA sloping higher and reaching towards the 200-day EMA, it shows signs that we could continue to go higher, as this is a major longer-term “buy-and-hold” signal. This is the favorable case for us until the 108.64 support holds. You can see on the chart why this area is so key. Consider also the nonsense coming out of the United States Congress will of course cause some issues later in the day, just as Jerome Powell talking well. Keep an eye on U.S. Treasury yields too. What do you think?
Long
by ForexTrendline
Will GBP/USD manage to stay above 1.28?GBP/USD dropped slightly last week as consolidation from 1.3012 extended. Today the pound remained stable against the greenback after data showing that the U.K. avoided a recession in the third quarter, with the economy growing 0.3% following a 0.2% contraction in the 2nd quarter. But the economy did contract by 0.1% in September and annual growth was just 1.0% in the three months to September, the lowest rate since the first quarter of 2010. Initial bias remains neutral first and deeper fall cannot be ruled out. Our preference Short positions below 1.2800 with targets at 1.2765 in extension. Stop-loss is seen in the $1.2820-$1.2840 area. Technical indicators and the crossing of the 50-day and 20-day moving averages point to the strong downside momentum that does not appear to have been exhausted. The $1.2700 area is the next intraday target for the bears. But the downside pressure could be limited there. We suspect potential exists toward the lower end of the recent range found near $1.2600 - 1.2585. This area corresponds to a 38.2% Fibo retracement objective (on the rally from 1.1958 to 1.3012), the 200-day and 50-day moving averages. But keep in mind that as long as this key support area holds, the long-term bullish views are still the favored case. However, firm break of 1.2582 will turn focus back to 1.1946 low.
Short
by ForexTrendline
EURGBP – Sellers trending might continue soonEURGBP – Sellers trending might continue soon Trend: Strong Sell Support/Resistance: R3: 0.87143 R2: 0.86645 R1: 0.85998 S1: 0.85402 Price action: We are waiting for holding price below new resistance level at 0.85998. If price will bunce from this level, we can see bears targets to 0.85402. If buyers are able to break resistance level at 0.86645, then they might continue to 0.87143 resistance level. Potencial trade idea: Bulls targets: T1: 0.87143 Bears targets: T1: 0.85402 NOTE – We are trading EURGBP via the preferred trading setups ELITEFXACADEMY
Education
by EliteFxAcademy
NZDCAD 11/4/19NCAD Short Idea DAILY TF Overall higher timeframe price action has been bearish and we will be looking for potential short opportunities around key resistance Current price action has currently rejected the 38.2% daily fib level and weekly resistance around 0.85000 Another entry opportunity could present itself soon on a lower time-frame retest/retracement Look to target toward the monthly support level around 0.82500 followed by a target of the -27% daily fib level around 0.80650
Short
by ForexLeague
EURUSD FED Decision At the beginning of the day, EURUSD is trading in the range, in anticipation of the FED announcing its interest rate decision later today. Currently EURUSD is trading at 1.1115. The US monetary policy meeting will end today and markets expect the FED to cut interest rates for the third time this year, amid trade tensions affecting US economic growth. Over the last few days, the dollar has gained ground against major currencies amid rising hopes of a US-China deal. However, an administration official said the deal may take a little longer to finalize and sign.
by ForexTrendline
AUDCHF – Buyers getting stronger (waiting for news)AUDCHF – Buyers getting stronger (waiting for news) Trend:Strong Buy Support/Resistance: R3: 0.68791 R2: 0.68502 R1: 0.68292 S1: 0.68205 S2: 0.68006 Price action: Buyers are ready to break higher by showing strong momentum. Till the news are not reliased, we can't know the next move in any way (recommended). Potencial trade idea: Bulls targets: T1: 0.68502 T2: 0.68791 NOTE – We are trading AUDCHF via the preferred trading setups by EliteFxAcademy
Education
by EliteFxAcademy
1
EURCAD – Sellers trending continuationEURCAD – Sellers trending continuation Trend: Sell/Neutral Support/Resistance: R2: 1.45330 R1: 1.44905 S1: 1.44756 S2: 1.44357 S3: 1.44205 Price action: This case might be for amaterur very tricky. As you can see buyers didn't give us reaction, so the next target for sellers is recent Lower Low and might be even deeper to 1.44357 level. Potencial trade idea: Bears targets: T1: 1.44357 NOTE – We are trading EURCAD via the preferred trading setups by EliteFxAcademy
Education
by MP4
USD / JPY How to trade Head & Shoulders?First of all, head and shoulders is a reversing trend formation! Second, there are two types of formations - Head and Shoulders and Reverse Head and Shoulders! Head and Shoulders may be at the end of an uptrend, while Reverse Head and Shoulders may be at the end of downtrend! As i mentioned, H&Sh is reversing trend formation! So if we talk about uptrend, we have to see Head & Shoulder, not Reverse Head and Shoulder! In USDJPY case, we have Reverse H&Sh. So, how to trade it? Draw a neck line on the left and right shoulder. Wait until neckline break and test it. Always is better to test the line. (Sometimes the price will not allow for a line test, then we may just miss trading the figure.) If we have a good entry point, we are making a deal. There are two places to put the Stop Loss: 1. Below right shoulder - more secure! 2. Below neckline breakpoint - less secure! Something very important - Stop loss is always placed under the tail of the candles, so before entering into a deal, check that the risk / profit ratio is profitable! Take Profit - Measure the height of the head and project at the breakthrough point, not the point of entry into the deal (there is a difference)! Take out 10% and put the Take Profit! Thank you for your time! If you like my work, please Like, Subscribe and leave your comments! Thank you, once again!
Long
by ForexTrendline
AUDJPY DAILY 10/20/19 AUDJPY Short Idea Price action has been primarily bearish on higher time-frames and we will continue to look for potential short entries Current price action is at key daily resistance around 74.500 as well as the daily 61.8% fib level Ideally we would like to see a strong bearish signal at this level before targeting lower. A bearish engulfing or evening start would be prime confirmation and would solidify a daily double top pattern Look to target toward the weekly support around 70.00 as well as the -27.2% & -61.8% fibb level
Short
by ForexLeague
Buy Limit CAD/NZD @ 1.1870Buy Limit CAD/NZD @ 1.1870 SL - 1.1800 (-70 pips) TP1 - 1.2040 (+170 pips] TP2 - 1.2100 (+230 pips) Fundamental Analysis i. 10.15.2019 COT Reports show ~67,000 orders from non-commercial entities (Banks) Longing the CAD and ~56,500 orders shorting the NZD. ii. 2Y Canadian Bonds show a Bearish trend. iii. If the price of the 2y Bond goes down, the Yield goes up. If Yield goes up, the price goes up. Technical Analysis iv. Daily chart shows Support @ 1.1855 and Resistance @ 1.2050. v. To play it safe and get a cheaper price; 4H chart shows a good level of entry just above the 1.1855 Support between 1.1860 and 1.1880, hence the buy limit @ 1.1870. vi. Fibonacci Retracements from the swing low to the swing high show the 1.1855 Support right in between the 0.236 and 0.382 levels. vii. SL placed @ the 0.382 level (1.1800). *Thought about placing SL at the 0.05 level of 1.1695 but due to the quality of information from the COT reports i didn't see a necessity for it. Hopefully I'm right. *fingers-crossed* viii. TP1 placed 10 pips below the 1.2050 Resistance (1.2040). ix. TP2 placed 10 pips below what looked like another resistance just below the 1.2128 swing high.
Long
by aromanFX
EUR/JPY Are 4 resistances enough?The currency pair EURJPY is in downtrend form many days, the reason is partly because of the drop in the EUR and a rise in JPY. Now we see 4 resistance from downtrend, horizontal level, fibo and so on. But also there is forming a new trend in the border of old one! We see a bottom around 116.00, after that the price forming a top around 119,70, The next bottom is higher from previous, and the next top too. This is first indication when the new trend is forming! Who will win?
by ForexTrendline