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Supportbreakout

Another Short on the USD/JPYHey everyone, we are gathered here for another possible short opportunity on the USD/JPY. After a great jobs report this pair ran all the way up a smacked head on in the long standing trendline the FOMC minutes sent it tumbling like a house of cards. It Broke though the another trendline and is currently below a D1 and W1 support level @ 110.541 on the 4H chart. A short on this pair would be confirmed of it closes below this support level. Remember, the Asian markets are about to absorb the news and likely to push the pair down. With no major news until Friday, this thing could easily see 110.000 before then.
Short
by SyndicatedTrader
Good sell opportunity with a decent Risk reward ratioA few things here Broken support line MACD has just crossed and entered the sell zone, shown by arrow RSI has a broken pattern as well, indicated by the arrow To set stop loss level, it is clear there is a strong resistance at around 1.075, as it bounced back down twice from this price, so 1.08 is a safe level As for the Reward, Fib and previous structures show there is a potential turn around at about 1.05 (also because its a round number as well) Let me know what you think guys :)
Short
by bogd
Filling the Gap?For the past month, price has been pushed down slowly staying near support for most of the time. Also, the 20ma has been acting as a dynamic resistance, and price has seen more resistance from a descending trend line. Price has just broken and close below support (Double Blue Line) Price has also closed below the 50ma, which has acted as dynamic support/resistance in the past. There is also a head & shoulders pattern on the MACD Leader, and Insync Index Price target is $87.88 for a R:R of 4.47 Went short with an entry of $99.06 after seeing a break of $99.20, Stop loss at $101.57
NASDAQ:PLCEShort
by juniortrader
USDCAD: bounce or break?USDCAD has a very peculiar configuration this week. The support at 1.31220 was violated on Thursday, but the Bulls came into the game to bring it up above it again. Nevertheless, another bearish bar closed just below it on Friday. Macro and Cyclicity are expecting a signal to go LONG. Interesting to watch and see whether this takes a clear position either LONG or SHORT. In both cases we should have margin for a TP1 of about 100 PIPs and a TP2 of about 200 PIPs with even more possibility if the starting trend is strong, as you can see in the #support #resistance levels highlighted in the chart. Prices refer to this chart and may vary with other platform/brokers. I always discuss and follow up these ideas on my blog.
by AlbionTrader
USDCHF bouncing before moving down?USDCHF might open interesting opportunities if the level around 1.00641 gets broken. There are three different supports to look at downwards: 0.99421, 0.98382, 0.97390. While breaking the psychological level of parity might be not probable, the Risk-Reward-Ratio in this case looks really appealing. A factor of risk is the volatility shown in the last month or so having the price just range in the area 1.006 to 1.025 - 1.030 which makes a bounce even more probable. Prices are relative to chart and may vary with other brokers/platforms. I discuss always discuss and follow up these ideas on my blog.
by AlbionTrader
USDJPY down trendlineUSDJPY has closed the week down a neat trendline. A bullish bar (inverted hammer) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot). The trend seems clear and is still trading under the EMA, even if the macro factors driving the USD might probably come into the game mid week. If we trade what we see, we can put a SL above Thursday's bar and let the SHORT position follow its trend down to the previous support of 111.89. A simple 1:1 Risk-Reward-Ratio. However, it has to be noted how the area around 113.72 provides a support that might make the price bounce again. Maybe too linked to the USD news to take a position now, but worth watching to take a pice-based action later this week. I always discuss and follow up these ideas on my blog.
by AlbionTrader
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