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Outlook

USDCAD: Is the long term correction finally over??!I know everyone enjoyed the UCAD sell if you were on the short side! :) now is it time for more upside longterm or is this just the beginning of another bigger correction for more down? Depending on how PA behaves we should know! Price has been pulsing up on lower TF and just completed an hourly flat pattern. I will keep this one updated as price progresses! There is no crystal ball, how price plays out is anyone's guess. If a forecast isn't going your way and you're in the trade, always have a stop in place were you will be wrong! Never get emotionally tied to trade ideas! It's never a good time when that happens! Always trade responsibly and professionally! Have a great week! some previous ideas on UCAD in the related Ideas. If you have a similar view post it in the comments! Thanks for looking! :)
by adambiers
EURUSD - LONG OutlookEURUSD - Bullish 1W Timeframe Week Trade #3 Tentative: BUY Entry Market Order @ 1.1928 T/P @ 1.2038 Total pips targeted for week = 110 Ref. 1 : A clear break & hold above 1.2080 will signal that Bullish Trend can continue up to 1.2330 in longer term. Ref. 2 : A clear break & hold below 1.1730 will signal that Bearish Trend has resumed. R3 1.2154 R2 1.2049 R1 1.1986 S1 1.1817 S2 1.1710 S3 1.1648 Pivot Point = 1.1879 Updates / Adjustments / Results will be reflected in comments. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Long
by ALSM59
2
WEEKLY OUTLOOK SHORT ON CADCHFHi traders: Almost 2 months ago I published my view on CADCHF long in the beginning of June that ended up having a 500 pips movement to the upside. Now, we could experiencing the downfall on CADCHF as it is currently sitting at historical key resistance area of 0.7700. On the daily chart we can see the price action broke out of the .7700, but quickly drop down afterwards, a potential false breakout. This week, we can confirm the bearish momentum on CADCHF by going to the intraday charts for a possible entry. I will be updaing this chart for any short entry on CADCHF. Thank you for your support and feedback.
Short
by jojofang0901
USD/JPY - Daily OutlookUSD/JPY encounters strong support level Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier. Namely, it managed to neutralize multiple attempts of the currency exchange rate to slide downwards, including the 34-pip fall that happened in the middle of the day, under pressure from the 55-hour SMA. As soon as the pair made a fully-fledged rebound, it started to climb upstairs, crossing the above 55- and 100-hour SMAs. Most likely, the surge will be stopped somewhere between the 111.00 – 111.20 levels, as they represent a location of the combined resistance level formed by the 200-hour SMA and the weekly PP. On gradual decay of the upside momentum also point out certain technical indicators, suggesting that strength of the uptrend is coming to an end.
by UnknownUnicorn890690