Welcome to this week's Forex Price Analysis for the week starting June 30, 2024. We're analysing GBPUSD, AUDUSD, USDCAD, USDJPY, and CADJPY.
GBPUSD:
The bullish wave structure is broken.
High probability sell at 1.2654 targeting 1.2612.
AUDUSD:
A bearish wave suggests a buy at the low.
A strong rally on Friday.
Prefer buying after a correction to the 0.6640...
Hi Traders, this is another episode of charts247 weekly trade planning session. We believe in trade planning because it helps us identify high-probability forex pairs that we should trade during the week.
Below are the indexes based on the 4HR wave structure.
DXY: Bullish Reversal (+ve)
EXY: Bearish Continuation (-ve)
AXY: Reversal (-ve)
SXY: Bullish Pullback...
You can learn a methodology trust the methodology and be consistent.
This weekly planning session is based on the H4 Indices, the idea is to do another major basket analysis after Tuesday trading. This analysis examined the AUD/USD, GBP/USD, USDJPY & USDCAD.
H4 Indices Portfolio Selection
BULLISH: AUD, JPY, GBP, CAD, NZD
BEARISH: USD,...
This week's analysis from the daily indexes :
DXY: +VE
EXY: -VE
AXY: -VE
SXY: +VE
JXY: -VE
BXY: -VE
CXY: -VE
ZXY: -VE
The last week's portfolio selection remains unchanged and we maintain the same outlook regarding the indexes.
The pairs going through their correction phase are coming to the end of that phase, and we should expect a trend continuation in those...
Plan your trades and trade your plans. Today we have the following rankings on the indexes:
@DXY ++VE
@EXY -VE
@AXY --VE
@SXY ++VE
@JXY --VE
@BXY --VE
@CXY --VE
@ZXY --VE
Based on the above rankings, we came up with the following pairings.
BUY PAIRS: USDJPY, USDCAD, CHFJPY,
SELL PAIRS: AUDUSD,GBPUSD,NZDUSD,GBPCHF,AUDCHF
The idea is to trade in the direction...
We have all heard that it is a good idea to go with the flow of the market but what does that look like? It's not enough to just read about flowing with the market, it must be practiced and experienced. We must acquire the skill of following markets up and down through its changes seamlessly.
A disciplined trading plan will have an objective method and will...
In this video, I follow up on the trend line exercise I introduced in the last post. The exercise is designed so that you can learn about markets and price flow in your own experience. There is beauty and harmony in each chart that shows the footprints of the buyers and sellers.
To most people, the price action on a chart looks chaotic. It's not chaotic, you need...
Based on the latest COT report, non-commercial traders (speculators) have significantly increased theirlong positions in the NZD. This suggests that they are becoming less bearish on the New Zealand dollar and may be anticipating a potential rally.
Open Positions Retail Sentiment data also shows a decrease in short positions and an increase in long positions...
Greetings, fellow traders!
In today's weekly planning session, we emphasized the significance of focusing on the trading process rather than solely fixating on the outcome. It's crucial to prioritize the steps and strategies involved in trading for long-term success.
During this session, we delved into the portfolio selection process utilizing the CSI (Currency...
Welcome to this week's Trade Planning Session! In this video, I examined the cumulative CSI (Currency Strength Index) of this past week and compared it to the previous weeks' cumulative CSI.
Based on this evaluation, we have identified the GBPUSD, AUDUSD, and CADJPY as potential buy pairs, while the EURAUD, EURCAD, EURGBP, and EURUSD are potential sell pairs for...
- Current price action is at support near the 200EMA
- 100% pullback on the previous leg/push
- Recent divergence on the MACD waterline
- Higher probability of upside movement to the upside
- Price is still above the 200EMA
PLEASE SEE MY RELATED IDEA FOR PREVIOUS ANALYSIS
Hello all - DuncanForex here with another trade idea
Following the move higher on the 24th and 25th October, I am looking to enter again off Support.
Price is at a great level and I'm long at 1486
Lets see if this can get up to the previous highs from last week
Reason for entry is
Off Key Support level
RSI showing divergence on 1 hour chart
If it breaks...
Here is another Forex Trading snack.
I know it’s Friday and late in the trade day by Friday’s standards, but it’s never to late to strategize and plan for a new weeks open trade.
USDJPY has run up and started to show signs of slowing a bit. This could just be a rest before another push higher. Evidence that it might go higher early next week...
Friday’s trade...
