EURUSD finds support ahead of 1.1300?The EURUSD dropped to 1.1306 levels yesterday before finding interim support. Please note that yet another low could be print between 1.1268 and 1.1280 levels before it resumes its rally. Looking into the lower degree wave counts, EURUSD might be unfolding wave ii or b as a standard or a running flat. Please note that wave i or a potentially terminated at 1.1470/75 levels earlier. If the above counts hold true, EURUSD would terminate wave ii or b, ahead of 1.1213 levels and move swiftly towards 1.1650 or even higher. The larger degree wave counts remain unchanged for now, and that Wave (C) could be unfolding as an expanded flat or a triangle and push towards 1.1650 or 1.1820 levels respectively. Please note that 1.1213 remains as a critical support now, and prices must stay above that to keep the medium term bullish structure intact.
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
EURGBP Approaching Resistance, Potential ReversalEURGBP is approaching its resistance at 0.9092 (100% Fibonacci extension, horizontal swing high resistance) where it could potentially reverse to its support at 0.8961 (100% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
NZDJPY Sell signal with potential H&S in the makingOn the left we can see a potential H&S in the making, but obviously it is very premature. There are a few reasons though for me to assume it is a realistic option.
At the high we can see a gap up that got sold of quite big with to big red daily candles. This is a sign of weakness and shows there is a potential high set. When we zoom in, i will get in with 50% of a small size if that first blue zone breaks, not any sooner. When that happens i will use today's high as a stop as you can see in the chart. If the second blue zone breaks i will add the other 50% and then just wait for it to touch the potential neckline. That neckline will be my first target where i unload half my position.
After all this it will be sitting and waiting to see if the H&S become reality or not. If it does happen, i will make it a decent size if the neckline breaks.
AUDUSD Approaching Support, Potential BounceAUDUSD is approaching its support at 0.7163 (61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7278 (61.8% Fibonacci extension, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 0.9% where a corresponding bounce could occur.
EURCHF Approaching Support, Potential BounceEURCHF is approaching its support at 1.1283 (100% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.1283 (61.8% Fibonacci extension, 23.6% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its support at 0.9% where a corresponding bounce could occur.
NZDJPY Approaching Resistance, Potential ReversalNZDJPY is approaching its resistance at 78.14 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is has a potential to reverse down to its support at 77.70 (horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal might occur.
NZDJPY 60 min Cloud BreakoutThe Monthly and Daily remain bullish
Have a text book cloud breakout
The only thing I don't like is the time
as it is 4 pm est and I prefer not to take trades
this late in the US Session, so I will wait for the Asian Session
which may provide for a pullback opportunity and/or a smaller stop
Entry = 77.95 above the Daily Tenken Sen (Red line)
Stop = 77.31
Risk = 64 pis
Profit Target = 80.23 (10 pips before the Daily D Ext.)
Reward = 228
RRR = 3.5 - 1
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.
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.