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EURUSD: Time to turn bullish again?EURUSD is up almost +1.80% since the October 3rd low and the 1D technical outlook switched back to a neutral state (RSI = 48.454, MACD = -0.004, ADX = 28.741). The 1D MACD is after a Bullish Cross and that's typical of the last two market Lows turned into bullish reversals. To be more precise, both of those patterns formed W-reversals before testing the 1D MA50. Consequently, we expect a pull back now, that will be a buy opportunity targeting the 1D MA50 (TP = 1.06850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
3
AUDCAD: Selling is the best option on this Channel Down.AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any upward movement on the long term. We remain sellers on this pair, targeting S2 (TP = 0.89500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
EURCHF: Hit the 4 month Support. Potential rise.The EURCHF pair hit today S1 (0.97250), which is a Support level holding for exactly 4 months, turning the 1D technicals bearish (RSI = 34.341, MACD = -0.003, ADX = 35.665). The strong rebound that has followed intra day as well as the RSI approaching the 30.000 oversold limit, is enough to make us go long after some time on this pair. TP = 0.99500, which is under the LH trend-line of the multi year Falling Megaphone pattern. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDCADI wanted to take a deeper look into USA and Canada. When looking at techs and fundamentals, there looks like there could be some space here for a run as we go through our interest rate spikes etc throughout this year. On the daily timeframe, I doubled the ATR for my stop loss and the target is near the 60% area which is where the previous high's are on a higher outlook as far as time. Let's see what happens over time. We are currently in a range of higher high's and I would like to see if we are getting the same pattern (look at circles). I'll wait as long as I can for this one. I compared the following statistics to try to get a more fundamental outlook vs depending on straight technical: GDP per Capita Differential (Lesser amount wins) - USA Productivity -USA Unemployment Rate Differential (Higher amount wins) -USA Government Spending (Higher Amount wins) -USA Business Confidence differential (Lesser amount wins) -USA Consumer Confidence differential (Lesser amount wins) - Canada Consumer Spending (Higher amount wins) -Canada What do you think? I'm looking for a more long term outlook here. This will be my only forex trade this year. Might scale in on this position over time if things work out.
Long
by Redimere_91
4
Daily BNBETH UpdateFor those of you who trade on Binance this chart is of more interest. With BTC, ETH and BNB being the major trading pairs on Binance it's good to understand which of the three is outperforming over time. While ETH has been outperforming both BTC and BNB for some time, over the last week we can see in this chart that the tables may be turning towards BNB. Both the RSI and ADX are showing BNB displaying new strength over BTC and ETH. I'll be watching this chart closely and if this continues will rebalance my portfolio to have a greater weighting in BNB over the other two. At this point I don't consider any real trend to be in place, however, it could well be the start of one.
by marcusdw1