NZD JPY SELL (NEW ZEALAND DOLLAR – JAPANESE YEN)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell. We are already at the top.
Nzd-jpy
Short NZD/JPY below 21-EMABreak below 21-EMA will see weakness. Scope for dip till 200-DMA at 75.75.
Technical studies on weekly charts is biased higher. But we see some weakness on the dailies.
Price action has broken below 5-DMA and 5-DMA has turned. RSI and Stochs are biased lower after rollover from overbought levels.
We see bearish divergence on RSI and Stochs which adds to the bearish bias.
Support levels - 77.19 (21-EMA), 76.26 (Nov 26 low), 75.75 (200-DMA)
Resistance levels - 78 (5-DMA), 78.86 (Dec 4 high), 79
Good to go short on break below 21-EMA, SL: 78, target 76.30/ 76/ 75.75
EURUSD remains bullish above 1.1213 levelsThere is not much change in the structure from what was presented yesterday. EURUSD trades at 1.1365 levels at this point in time, ideally expected to stay above 1.1310 at least. As discussed earlier, a higher degree Wave (C) is looking to unfold into 5 waves in case of an expanded flat or 3 waves in case of a triangle. In either case, we expect prices to rally at least through 1.1650 levels if not further. Immediate price support is at 1.1310, followed by 1.1213, while resistance is at 1.1473 levels respectively. The higher degree wave structure produced an impulse drop between 1.1250 through 1.1300 earlier. It is being retraced by an (A)-(B)-(C) corrective structure at this point in time. Overall EURUSD remains bullish for medium term against 1.1213 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
EURUSD proceeds higher potentially toward 1.1391 levelsThe EURUSD is seen to be trading around 1.1390/95 levels at this point in writing after having tested 1.1310 levels yesterday. Immediate interim resistance is seen at 1.1420 levels, followed by 1.1473 respectively. A push through these would be considered encouraging for the bulls to remain in control further. The medium term and higher degree wave structure remains intact for now, with EURUSD unfolding into Wave (C), within the (A)-(B)-(C) correction, as a potential triangle or an expanded flat structure. Please note that potential upside targets remain at 1.1600/50 and 1.1800/20 levels respectively. For the above structure to hold good, prices should remain above 1.1213 levels going forward. Overall, the medium term bullish structure remains intact for now.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
NZD/JPY Double Top, Continue Recent DowntrendDouble top after break of structure, continue downtrend.
NZDJPY Bounced Off Support, Potential RiseNZDJPY bounced nicely off its support at 77.34 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 77.94 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is bounced off its support at 5.8% where a corresponding rise could occur.
NZDJPY Approaching Support, Potential BounceNZDJPY is approaching its support at 76.31 (38.2% Fibonacci retracement, Horizontal overlap support) where it could potentially bounce to its resistance at 77.53 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4.6%, where a corresponding bounce could occur.
NZDJPY approaching support, potential bounce! NZDJPY is approaching our first support at 76.82 (100% Fiboancci extension, 78.6% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 77.61 (horizontal overlap resistance, 38.2% fibonacci retracement).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
USDCAD BoC rates possible tradeWe have Bank of Canada rates decision today, market formed a double bottom and rallied quite sharply from there filling out the gap, for now i am expecting a reactionary type of move at the time interest rates are released, so after the spike up, if market rolls over & breaks the dotted line, I'll be looking for shorts. Keep watching this market.
Trade Safe!
Good luck.
EURUSD Possible trade setupEURUSD have been quite choppy across the bigger picture at the moment, on a shorter term time frames, euro attacked prior highs yesterday and couldn't sustain the rally and fell sharply breaking down the short term uptrend line. For now i am expecting a consolidation to continue a bit to then further falls around the prior lows.
Keep an eye on this market for a potential break to take short positions.
Trade Safe!
Thanks for your support.
EURUSD remains bullish until prices stay above 1.1213 levelsThe EURUSD pair seems to be bound in a range between 1.1500 and 1.1300 levels since last several trading sessions. The higher degree wave structure still remains constructive for bulls with a potential rally towards 1.1650 or 1.1800/20 levels. After printing an impulse wave lower from 1.2550 through 1.1300 levels, we are expecting a 3 wave corrective rally to unfold as an expanded flat or a triangle. Furthermore, Waves (A) and (B) could be in place as labelled here and Wave (C) could be unfolding at the moment. For the above structure to hold true, prices should stay above 1.1213 levels going forward. Only ab break below that consistently, would change our bullish stance. For now, it is safe to buy on dips ahead of 1.1213 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
NZDJPY 60 Cloud Pullback "homerun" tradeAlthough the Monthly and Daily are up, there is, imho, a
high probability, low risk pullback trade setting up
NZD which has been on a Great Bullish run is showing signs of weakeniing,
specifically, on the Daily charts of NZDCHF and NZDUSD both finished yesterday with Doji's
GBPNZD and EURNZD were both Spinning tops.
NZDJPY had a bearish decision candle, although not an engulfing certainly the strongest
of all the pairs against NZD.
Their has already been a bearish cloud breakout but with a retracement back into the cloud
Trade setup:
Entry = 78.14 (the 60 Kejun Sen)
Stop = 78.78 (10 pips + 2 for spread above the Senkou A)
Risk = 37 pips
Profit Target = 76.23 (the Daily Kejun Sen)
Reward = 218 pips
RRR = 5.8 - 1
EURGBP Testing Resistance, Potential ReversalEURGBP is testing its resistance at 0.8931 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8822 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
BULLISH BREAK OUT Last week's fundamental news on NZD was able to result to a strong bullish trend
DAILY CHART
-Price broke key resistance zones( 74.423,74.952,75.938,76.285)
-Current price shows a retest of the new bullish trend (hence i recommend a buy limit to secure more pips)
WEEKLY CHART
-Key support zone at 72.524
-Price broke out around 75.398 to the upside therefore satisfying buying pressure
MONTHLY CHART
-Key support zone around the price of 73.421
-A sideway trend is noticed
BUY= TP1-77.139
TP2- 80.379
SL-75.516
EURUSD structure remains intact towards 1.1650 at least!The EURUSD remains unchanged from what was discussed earlier and seems to be on track towards 1.1650 levels at least, until prices stay above 1.1213 levels. It is seen to be trading around 1.1420 levels at this point in writing and should continue pushing higher towards the above targets. Please note that a push above 1.1500 levels would confirm and accelerate momentum for the bullish structure discussed earlier. Looking into the wave counts, EURUSD is still unfolding into a corrective (A)-(B)-(C), that is expected to unfold as an expanded flat or a triangle. In case of an expanded flat unfolding, we could see prices pushing towards 1.1800/20 levels at least, while a triangle could find resistance at 1.1650 levels. Overall, the medium term bullish structure remains intact for now.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
EURGBP Approaching Resistance, Potential ReversalEURGBP is approaching its resistance at 0.8930 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it could potentially reverse down to its support at 0.8825 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
EURUSD proceeds towards Wave (C) to 1.1650 and up to 1.1820!Finally we could see the EURUSD terminating its lower degree Wave ii yesterday at 1.1267 levels, closer to our projected one! It is seen to be trading around 1.1390 levels at this moment of writing and we could see it pushing further higher in acceleration. Looking into the wave counts, we have a lower degree wave i (terminated at 1.1472) and wave ii (terminated at 1.1267) in place now and wave iii could be on its way towards 1.1650 levels at least. Please note that EURUSD is progressing into Wave (C) at a higher degree at this point and could unfold as an expanded flat or probably a triangle. In case of an expanded flat, we could see potential target hitting 1.1820 levels at least. Overall, the medium term outlook remains bullish against 1.1213 levels.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same
EURAUD Bounced Off Support, Potential For A Further RiseEURAUD bounced nicely off its support at 1.5522 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5614 (38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is bounced off its support at 3.03% where a corresponding rise could occur.
EURUSD still finding Wave ii termination? Could be 1.1280The EURUSD dropped lower than what was expected as a potential wave ii termination point, around 1.1320 levels. It trades close to 1.1290 at this point in writing and is expected to find support around 1.1275/80 levels as fibonacci 0.786 support passes through. Looking into the wave structure, wave i and ii counts still remain valid as presented on the daily chart here. A higher degree wave (C), could be unfolding as an expanded flat or a triangle and prices could push through 1.1800 or at least 1.1650 levels respectively. It remains to be seen where EURUSD would terminate its wave ii. For the above scenario to remain valid, prices should hold above 1.1213 levels going forward. Overall, medium term outlook remains bullish .
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
NZDJPY approaching resistance, potential drop! NZDJPY is approaching our first resistance at 77.36 (horizontal swing high resistance, 76.4% Fibonacci retracement, descending channel resistance, where a strong drop might occur below this level pushing price down to our major support at 76.83 (100% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and seeing a bearish divergence where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
EURUSD terminates wave ii at 1.1305 ?EURUSD print a lower low at 1.1305 levels today before pulling back, and is at 1.1320/25 levels at this point in writing. We discussed probability of EURUSD dropping to 1.1312 levels before resuming rally and if this is the case, it could be safe to assume that the lower degree wave ii (highlighted on the chart presented here), terminated at 1.1305 levels. Looking at the short term counts again, EURUSD could be ready with waves i and ii (at 1.1473 and 1.1305 levels respectively) and wave iii could be on its way. Please note a higher degree wave C could be unfolding into 5 waves with potential targets at 1.1650 and 1.1820 levels respectively. Overall, the bullish momentum could stay, until prices stay above 1.1213 levels, going forward.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
