GBP Manufacturing PMI to be released in a few minutes. Will the technical setup hold?
We have a potential bullish Bat pattern setting up on EURGBP, which is inline with the overall trend of this pair. Fundamentally, both EUR and GBP are still bearish. Going into this trade setup, we expect an improvement in market risk sentiment to strengthen the EUR. OUR DIRECTIONAL BIAS FOR THE WEEK - EUR bearish (fundamental of EUR is still weak) - no key risk...
Price has been breaking lower on the H4 chart and we are looking for potential short opportunities around the 0.9230 and 0.9300 resistance levels which confluence with 50% and 61.8% fibonacci levels as well. The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region. OUR DIRECTIONAL BIAS FOR THE...
Going into next week, the key focus will be mainly on 3 central banks - the Fed FOMC Statement, RBNZ Rate Statement, and BoJ Monetary Policy Statement. We believe that the Fed will not further increase its interest rate this coming week. Instead, our focus will be on the tone of Yellen. Any sign of concern from her in regards to the US economy will potentially...
One of our senior community member dropped me this question earlier today. It was a very good question and I thought would be interesting to see what are your thought + decision making process :) Which level will you fire your trades at? Are you going to take at both levels? If yes, how are you executing and managing your trades? If not, why? Do you have an...
In this video, we cover the technical scoring system that you can potentially use in combination with Harmonic trading to give you more conviction to the trades that you take (www.youtube.com) Watch our previous webinar - Introduction to Harmonic Patterns here: www.youtube.com We started an initiative #askresearch to reach out to you. Feel free to drop us...
Fundamental aspects are still pointing towards a downside on EURUSD. We will be looking for shorting opportunity around teh 1.0910 region which confluence with the previous structure resistance level, a 50% retracement level, and a 161.8 fib inversion extension. YouTube: www.youtube.com Website: fxpresearch.com Signals: www.fxpipsology.com
Price is currently 'trapped' in between two key levels, a 61.8 retracement level from the regular divergence setup; and the previous support structure level which also coincides with a 127.2 extension level. Fundamentally, the USDJPY-1.19% should eventually go higher, with respect to the FED raising their interest rates; and the BoJ continuing with their...
With the last major news event of the year 2015 later tonight - FOMC FED Rate Decision, we decided to share with you guys as a bonus what we have for our FXP Clients as well. We did a special day analysis for you guys to watch out for potential trade opportunities. Having said that, do take note of the volatility the market will experience during the release and...
We have a potential Bat pattern setting up on GBPUSD with PRZ around the 1.5285 region. This area also confluences with the many fib level which includes the 141.4 and 161.8 inversion + a 127.2 expansion. Having said that, we also need to take into consideration the fundamental aspects of the market. The FED is likely to increase the interest rates by 25 basis...
This week will be a quiet week for the Canadian Dollar as we do not see any particular news event driving this currency. Continue to monitor the movement on OIL as an indicator trading into CAD. Bias is still to the downside.
Video: www.youtube.com The fundamental data releases for this month has been overall slightly bullish for AUD. Labour market and housing market have seen improvement. However as we look into the sentimental analysis as for last week in relation to price movement of AUDUSD, we do see that there has been an increase in short positions as price move higher. This...
Fundamentally, USD is strong and CAD is still rather bearish. However, looking at technical aspects, we are seeing some nice confluence where price might face some resistance. Subscribe to FXP Trade Signals today: www.fxpresearch.com *Limited slots left.
Last week BOE meeting was dovish which sent the GBP lower. This was coupled with a very positive NFP results. Looking at this pair, we do see an alignment of both technical and fundamental aspects. Hence we will be keeping a close watch at the 1.5255 region for any shorting opportunity. Check out the mid week analysis video here: www.youtube.com
Price is currently in the downtrend. Coupled this with the fundamental aspect of EZ and US, we do have an alignment of both technical and fundamental. Area of interest remains around the 1.0900 region for any shorting opportunities.
Looking at the higher timeframe on Weekly, we are seeing price forming a potential double bottom divergence. Also at a lower timeframe - H4, we do have a divergence as well. But looking at the price action, there is still no clear sign that price is ready for turn. If you are more conservative, it would be best to wait for at least a price action confirmation...
We have a completed divergence setup. Traders can now potentially wait for price to retrace back to the 2.1420 region for a long opportunity targeting the 2.1660 region.
Price is currently forming a double top divergence setup. We would like to a confirmation of the setup with a break of the 1.5415 level. Aggressive traders can short the breakout towards the 1.5330 region; while more conservative traders can wait for a 2618 setup. In addition, we have some valid bearish setups on H4 too.