Trade of the day. Sell EURUSD. Looks like there might be a declining double tap on the MACD line. This from my experience is very bearish. Where you have a declining line, there is almost a crossover, but only touches it instead and keeps falling. The opposite is true as well.
CCI also shows falling price below channel. This is also bearish if it breaks below.
In any case, target the 1.05 handle.
Good luck.
Tradeoftheday
Trade of the day No.11 Sell EUR/CAD at top of rangeProfit targe is 1.45
Stop loss 1.52
EUR/CAD is trading at top of range with resistance between 1.52 and 1.55. This is where the CAD is oversold at the present moment.
Linear regression on both the 100 and 200 period tells me that the price has room to fall to about 1.45 to 1.40.
On a fundamental basis, CAD will be threatened by the price of oil drop but I fail how to see this can be sustained with oil pumping at these prices.
Trade of the day No.10 Sell NZDJPY if price breaks supportLooking to sell this at the right opportunity. Specifically if it breaks support, if it bounces up again, looking to sell at resistance. In either case, JPY as a safe haven will rise dramatically if stock market sees volatility to the end of the year.
Trade of the day #9 Trade EUR/CHF between the rangeAs you can see there is a declining overall trend but it's bouncing between the support and resistance lines.
Here is a good idea to trade off the bounce.
Overall, I see more likely a break above the resistance as SNB makes efforts to devalue the Swissie
Trade of the day No.7. Sell AUDUSD as MACD rolls overMacd rolls over as price approaches mid range support. A drop below this opens up the price to stronger support. A drop below this and we are looking at a mid .60 handle.
MACD is one of the most reliable indicators that is extra strong when used in the context of other indicators.