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EurAud- New leg up after flag's break? (Good R:R trade)After the low at the 1.43 zone, EurAud broke above falling trend line resistance in September and at the beginning of October also broke above 1.52 horizontal resistance confirming a double bottom in place. In mid-October, the pair reached a local high and started to correct. The drop from this high is contained in a flag pattern and the low of it coincides with a retest of the broken horizontal level. At this moment the odds are favoring bulls and a new leg up could follow after the flag's break. The target for such a move could be the next important horizontal resistance above 1.6.
Long
by Mihai_Iacob
10
USDCAD > The Best 2 Places for High Quality SellAnalysis of #USDCAD Hi traders, today we will have a look at #USDCAD the USDCAD trend has shifted to the downside, if you remember I posted head and shoulders last time on USDCAD, and indeed it moved as I predicted it to move, now I still see a further move to the downside, and I have confirmation that the trend now is to the downside. now, the question is where to sell? the first place to look for a sell entry would be of course previous support now became resistance, which is the previous low if we have valid confirmation we can then move to enter a sell trade. the second level to sell would be the previous lower high, as you can see we had a very good bearish reaction at that level and traders sold the market, so if the market comes and pull back to test its resistance zone I will also be looking for sell entry. I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one Thanks for your continued support!
Short
by TheTradersAvenue
30
EurNzd could drop to supportAfter the break above the horizontal resistance level from 1.7150, EurNzd has traded in a range between this zone and a high of around 1.75 for one month. The pair couldn't continue its ascent and fell back down under support proving the up break as a false one. After the recent low, a correction to the up side followed and the final of this correction is in the old resistance and is marked by two reversal candles, Friday's one being a pin bar. I expect a new leg down from this pair and I'm looking to sell rallies. The target can be set around 1.64 support and only a daily close above 1.7150 would negate this bearish scenario
Short
by Mihai_Iacob
5
GbpUsd is facing strong resistanceAs I said in my previous analysis, there is a very high chance that 1.03 is the bottom for GbpUsd, and as long as 1.1 holds, 1.1750 is in focus. Yesterday this zone was touched and we can see from the posted chart that 1.1750-1.18 is an extremely important resistance. Even if 1.03 is the bottom, I don't think that GbpUsd will start an up trend in the near future and rage trading is a probable scenario for this pair. Rallies above 1.1750 could be sold and 1.12 could be the target.
Short
by Mihai_Iacob
5
TRADE OF THE WEEK | Trading With Confirmation💰 Hey traders, The entire week, we were patiently waiting for a test of a major rising trend line on USDCHF. Once it was reached, the price formed a double top formation on 1H time frame. The entry signal was a breakout of its neckline. The position was opened on a retest. The price dropped sharply then. 150 pips of pure profit made! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
7
NZDJPY: BEARISH POSITIONS BELLOW 85.289FX:NZDJPY Hello folks!!!, This is my analysis brought to you after deeply analyzing thE NZD/JPY Forex Pair from a technical, trend and fundamental perspective: *Pivot Point : 85.289 *Stop Loss : 86.090 Take profit : 79.906 Entry Price : 85.112 Risk/Reward Ratio : 1 : 5.60 ⭐If this post was useful to you, do not forget to like ❤️ and comment ✍️. ✅Fallow me to be up-to-date with all my posts and updates 🚀. Yasser Tavarez, Wish you the best!
Short
by elversatiltav
1
EurUsd is building bullish momentumAs I said in my last week's EurUsd analysis, although the trend is bearish, in my opinion, it will turn, and is better to look for buying opportunities. Indeed, on Friday we have yet another reversal with a strong bullish engulfing and also yesterday the pair managed to break above the triangle's resistance. As we can see from the posted chart, since the 0.9550 low, EurUsd is putting in higher lows all being marked by strong reversals, indicating buying dips from big players. At this moment EurUsd is facing 0.99 horizontal resistance and a break above would clarify things and put pressure on the upside. The first target can be 1.02, followed by 1.035 zone important resistance. Also, in case of an au break of 0.99, parity should provide some kind of resistance ( I don't expect it to be very strong though). Buying dips with a stop loss under 0.97 could be a good strategy.
Long
by Mihai_Iacob
10
EurJpy- Up after support confirmation?After the break above 144 resistance in the middle of the month, EurJpy corrected and confirmed this break as a valid one on Friday and also yesterday. Both these touches of support are marked by long-tailed candles to the downside suggesting buying power in that zone. The price action since June is contained in a large inverted h&s and the up break is also a break of the neckline of this pattern. I favor more gains for this pair and, considering the measured target of the H$S, 154 could be swing traders' target. Only a close under 144 would put a pause to this scenario.
Long
by Mihai_Iacob
3
TRADE OF THE WEEK | Great Short Trade💰 Hey traders, For the last 2 week, we were patiently waiting for a test of a major falling trend line on a daily on GBPUSD. Once the market reached that, we were patiently waiting for a confirmation. On a Tuesday's live stream, we spotted a cute double top formation and a confirmed neckline breakout. Short position was opened on a retest. Our target was the closest key support. +180 pips of pure profit! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
CHFJPY:BEARISH POSITIONS BELLOW 147.516FX:CHFJPY Hello folks!!!, This is my analysis brought to you after deeply analyzing the CHF/JPY Forex Pair from a technical, trend and fundamental perspective: *Pivot Point : 147.516 *Stop Loss : 148.258 Take profit : 142.004 Entry Price : 146.801 Risk/Reward Ratio : 1 : 3.28 ⭐If this post was useful to you, do not forget to like ❤️ and comment ✍️. ✅Fallow me to be up to date with all my posts and updates 🚀. Trade Safely, Yasser Tavarez
Short
by elversatiltav
1
Gold- where will it go? A deeper look into itAs the father of the modern economy said back in 1930: " The market can stay irrational longer than you can stay solvent" and this couldn't be more true now with a falling Gold price in a high inflation environment. But there is also a saying for traders:" Trade what you see, not what you think"... So, what do we see when it comes to Gold? Looking at the posted weekly chart, we can see that after the recent high and test of the ATH back in March, Gold has entered a downtrend, and is contained in a downwards channel with clear lower highs and lower lows. Also, we can see a very nice double-top formation with the neckline support clearly broken, so, a downtrend on a longer time frame. Zooming in to daily: On daily TF the downtrend is even more clear: - The rising trend line started in 2018 is broken - We can see the importance of the 1680-1700 zone with multiple reversals, acting both as support and resistance in the past 3 years, and now this level is clearly broken to the downside. - The price is under both 50 and 200 MA - Also we have a death cross at the beginning of July - The recent rise above 1700 is very well stopped by the 50MA and the falling trendline Going to H4: Refining to H4 we can see a double test on the 1680 zone on 11 and 14 November, followed by a break of 1640 support and a test of this broken support and confirming as new resistance yesterday. So, on all-time frames, Gold is bearish... But now we are speaking of XauUsd, so what's happening with the price of Gold in general? XauEur: - With Eur, Gold is also in a downtrend that started in March - At this moment the price is exactly in support and a break down looks imminent XauGbp: - As in XauUsd's case we have a double top - The price is also in support and a break looks imminent Putting it all together: More often than not when we are speaking of the price of Gold we are speaking in fact of XauUsd, but Gold its self is an asset that has trends regardless of Usd's evolution and in this case, all are pointing to a falling Gold price. In conclusion: - In XauUsd's case the trend is strongly bearish and a fall under the recent 1615 low is very probable - There are 2 very important support zones at 1550 and 1450 that can provide targets for swing traders - Considering selling rallies 1640 and 1660 should be very good points - This bearish view on XauUsd is intact as long as the price stays under the 1680-1700 zone Best Regards! Mihai Iacob
OANDA:XAUUSDShort
by Mihai_Iacob
39
EurGbp could resume its up moveAfter reaching a high near 0.93, EurGbp fell strongly with a drop of 600 pips in just a week. After this drop, the pair started to consolidate and although it made some new local lows, these are marginal and the pair is contained in a falling wedge pattern. At this moment the price is trading in falling trend line resistance which is also confluent with the horizontal resistance at the 0.87 zone. As long as the recent low is intact, I favor gains and the previous high can be the bull's target.
Long
by Mihai_Iacob
7
EurUsd- Will we have a real reversal?Yesterday was an interesting day for EurUsd traders, a day that could give us clues for future price evolution... After an initial spike and false break of support on CPI data release, EurUsd reversed strongly and close the day above 0.97 support and in the high of the range zone. At this moment there is a high probability of a higher low in place in this support and continuation to the upside. Dips should be bought near this support and, with a stop loss under yesterday's low, we can have a 1:3 risk: reward if we target parity. Going further, an ABC-type correction can be in cards for EurUsd and, in such a case, I wouldn't be surprised to see 1.03 for the single currency by year's end. I'm strongly bullish EurUsd as long as 0.96 is intact
Long
by Mihai_Iacob
13