Forexidea
GBPNZD - Ascending WedgeOANDA:GBPNZD
BOOM! A N O T H E R setup to stalk... I should CHARGE for this!
Anyways, keep yo eyes open and if price action permits... hop in for the long!
Why?
Because med-term trend is bullish, price is close to support, 20MA and 50MA are bullish, price is in a tested wedge.
But remember one thing... ONLY ENTER IF PRICE ACTION + CURRENCY STRENGTH + ANY OTHER CONFIRMATIONS permit.
Anyways be safe, be smart, and don't forget... to
TRADE LIKE A C A S I N OOO O O O O !
GBPUSD Ascending Wedge SetupOANDA:GBPUSD
GBPUSD in a clean little ascending wedge, with long-term bearish bias and short term bullish bias - On the daily, theres some recent clean and strong bullish price action and on the weekly theres a strong bullish candle forming.
To time a better entry, make sure to get on to the lower timeframes.
Anyways guys, good luck and don't forget to trade like a casino.
USDCAD close to a Major Top ! Key support at 1.3068/52 is holding. A break trough would set a large top USDCAD
USDCAD saw a quieter session yesterday, negating some of the gains from Monday to add weight to the view strength is corrective only ahead of a move back to retest important support from the 38.2% retracement of the 2017/2018 rally and 2019 low at 1.3068/52. Although further consolidation above here should be allowed for, our bias remains to look for an eventual move below here to mark the completion of a large top to signal the start of a more prominent bear trend, with support then seen next at 1.3014, ahead of 1.2971/70 –the late October 2018 low and 78.6% retracement of the Q4 2018 rally.
Resistance is initially seen at 1.3146/51then the 23.6% retracement of the fall from May and 13-day average at1.3177/79, where we would expect to see fresh selling. Above though can see a deeper recovery to 1.3208/14, then 1.3231, which we look to try and cap.
Bullish Flag on JPYAUD?JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and form a bullish flag.
USD/CAD, waiting for 0.618 Fibonacci Hi guys !
USDCAD looks bullish with indicators on green. My entrys is only if the price reach the 0.618 Fibonacci retracement with a target at 1.3260 (0.786 Fibonacci).
Currently, the support is at 1.30850, with 50 % Fibonacci and above MA10, 20, 50, 100, 200.
Furthermore, the lagging span is above the cloud and confirm an eventual new run.
Thanks !
EUR/USD, bearish week aheadHi guys !
I shared an analysis on DXY (link in related analysis) with a first target at 96 before any down move.
In this EURUSD idea, we can see a breakout on a major uptrend. On the next candle, it's a clear rejection of this one and then, a big drop.
I'm expecting a new drop to 1.13, and then after a little pullback a new one toward 1.25.
DXY, to 97.0 before the pullbackHi guys !
Last week was good for DXY with a run from 95.5 to 96.8.
On Friday, there was a little pullback to 96.3. The main resistance is at 97, and if DXY can't cross this one, a double top will formed and it should drop to 95.5/95.6.
On H12 (as the chart), the price bounce perfectly on the MA10 at 96.3, so i expect a run to 97 before a new trend line .
Thanks for your time !