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Macro Outlook : Crude Oil vs Fed Funds RateHi Traders, We are probably very close to a bottom in crude oil prices due to last hike on Fed Funds interest rates. The charts shows certain correlation , not purely exact but it provides forward guidance, with the exceptional period of QE . Technically it formed a channel that supports reversion to the mean Not necessarily represents an inmediate rally in crude oil prices, but a consolidation period . I hope it helps Josep Pocalles
NYMEX:CL1!Long
by Realisto_FX
9
SYMMETRICAL TRIANGLE FORMATION ON USDJPY Price on the daily perspective has been capped within a symmetrical triangle for just over a month. Price is currently coming to the very end of the triangle and could potentially break to the upside or downside, giving two different scenarios for trading opportunity. In the case of a break to the upside: it is ideal to wait for a break of the resistance level 120.75 for a confirmation to go long. Targets 123.75 and 123.5 In the case of a break to the downside: it is ideal to wait for a break of the support level 119 for confirmation of a short position. Targets - 116.5 and 116.25
by delelteddddd
GBPCAD OUTLOOK: BULLISH SHARK TO BEARISH 5-0 CONTINUATIONMy daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a scalp to grab the pips off the bounce of the bottom parallel. Either way, I expect this setup to produce short term bullish movement before the bearish 5-0 pattern continues to target. Short-term long targets are placed at the .382 and .618 retracements of the shark CD leg. When I re-enter short, I will take profit at either the 1-4 WW target line or the 1.272 5-0 projection, whichever target is hit first. Overall Bearish Outlook: Bullish Confluence in the PRZ: 1. Bullish shark pattern completion 2. Parallel channel support 3. 1.786AB=BC 4. 1.618BC projection Thank you for viewing!
by glennmercer
CROSS CURRENCY PAIRS CORRELATION - ADVANCED ANALYSIS Hi all, I wanted to share this chart with you - I am hoping it works when I publish it and the arrows stay inline with the text - something very interesting we all know about currencies moving in tandem with each other to some degree different economic events causing them to stop moving together but eventually they will again. As a forex trader, if you check several different currency pairs to find the trade setups, you should be aware of the currency pairs correlation, because of two main reasons: 1- You avoid taking the same position with several correlated currency pairs at the same time and so you do not increase your risk. Additionally, you avoid taking opposite positions with the currency pairs that move against each other, at the same time. 2- If you know the currency pairs correlations, it may help you predict the direction and movement of a currency pair, through the signals that you see on the other correlated currency pairs. If you would like more information describing the affects - reply with a short note and I will paste a URL
Education
by Oztrade
45
EURUSD If we take a look at the Monthly chartAs you can see EURUSD has 2 channels to play in on the monthly chart, wich means on lower timeframe charts it still has potential to touch the lowest monthly channel as seen in my 4Hr published idea. If you look at my RSI in the past you see this similar bounces occure. EURUSD might be heading slowly for a Monthly retracement move to the upside after wich it might reach a new bottom around 0.90 as it did in the past and if the bullish channel holds on the low, the EURUSD might come into a bullish stream.
by Vranken
Gbp/Usd Daily Market outlookContext: after a strong rallie price broke a major supplyline, but found resistance @1.555x the correction resulting in that , brought us near the 50% retracement of the rallie, where price now makes another attempt to tackle the resistance level, price formed somewhat near the recent high an indecsion but it resoloved itself to the upside , which is a sign of stenght, if price fails again to takeout the resistance we may form a range with support @50280 and resistance @555x , however a break of @555x is also a major sign of strenght returning to the market signs of strenght: rallie broke major supplyline 50% retracement holds indecision resolved itself to the upside signs of weakness: resistance still holds
by Invezted
Aud/Usd Daily Market outlookContext: After the strong rallie attempt we failed to takeout the recent high on a 2nd attempt (0.8070) and formed a lower high price then retraced somewhat back to the broken resistance , which now holds some minor support, as we formed a higher low, we nolw have evidence of indecision at hands, and the future course of the market will be decided on how that indecision will resolve itself.. breakout to the upside or downside ? signs of strenght: strong rallie broken resistance resistance tunred support signs of weakness: Lower high Indecision
by Invezted
EURUSD Elliott Wave Analysis. Flat Correction CompletedEURUSD has potentially completed the wave 5 of the Flat correction on the higher degree time frame which is Wave IV correction. What this means is that the down trend resumes for the EURUSD and would break the previous lows. USDOLLAR Index is also showing the same chart patterns of Expanded Flat correction giving confirmations. One can go short on this pair with stop loss and targets as shown on the chart. A great risk reward potential on this trade. Please do your own analysis before taking any positions. Happy Trading!!
Short
by SirajHudda
2
GBP/USD: Brearish Outlook.GBP/USD Pair is looking bearish. That's why I still looking for short postion in this pair. 1.4980 - 1.5010 zone is behaive lika a strong resistance for this pair and 1.4850-1.4840 zone is behaive like as strong support for this pair. If break this pair I hope our next target is 1.4698 level, 1.46330 level and 1.44890 level. I hope this pair touch those level. We can take short position between 1.4980-1.5010 zone and out stoploss is 1.5080 or 100 pips. Or we can take short positon after break this 1.4850-1.4840 zone and out stoploss is near swing high point or 50 pips. Lets see what's happen. Best of luck and happy trading.
Short
by fxmentorbd
1
USD/CAD: Bullish OutlookIn H1 TF I found a nice Acending Triangle Pattern, if break this triangle, I think this pair may be go to 1.30 level which is very strong resistance. And this pair is also in uptrend mode. We looking for Long position after break this above resistance line of triangle or after retrece from this resistance line. And put stop loss near swing low point of this pair. Our profit target should be at 1.2950 - 1.30 Level. If usd/cad pair did not break upper resistance line of triangle and return from this level we look for long positon near support line. So, keep eyes on this pair. Best of luck.
Long
by fxmentorbd