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Usdlong

US Dollar - Just Gone to Close the Gap Be Right Back Some interesting price action overnight. The wave structure of the USD vs the Euro is slightly different as it turns out. The whole move up since the start of May looks like a leading diagonal. As opposed to Euro's 1-2 1-2 combination since the start of May. Leading diagonals often have deep retracements compared to regular impulsive waves. The Euro has not mirrored the US dollar in this instance because it is operating on a different wave structure in this moment even though they usually move similarly. Please LIKE and FOLLOW to get notification of updates and future posts.
TVC:DXYLong
by AriasWave
USD/JPY (LONG) - Technical & Fundamental AnalysisI will be looking to enter a long trade within the purple box which is a key daily zone that has previously acted as a resistance for price and we are now looking for it to act as support. We have added confluence to this trade via the blue trend line which we can see has previously been well respected and therefore this increases confidence that this will serve as an area of support. Fundamentally, we have seen the dollar finally start to show some weakness today following the steep decline in US equities caused by the growing market fears of a Corona Virus pandemic. However, it is my view that this will be a short lived decline for the dollar. It is still perceived to be the strongest economy in terms of weathering an economic slowdown should the virus continue to worsen. The Yen on the other hand is facing a weakening economy which will only get worse given its closer exposure to China, therefore this correction is USD/JPY is likely to be short lived and we look to take a long position using tech analysis to find our entry
Long
by PhantomForex
1
USDJPY upside to 109.75, long term to continueUSDJPY recently formed a strong up channel and looks to continue to move in that direction based on market structure. The support at 108.65 is expected to hold and we would like to see a pop into the next resistance points. There is a level at which we can expect price to move into at 109.200 then up to 109.330 these two levels are based on the Fib retracements, the first at 50% and the second 61.8% from the resistance point. Disclaimer: This trading idea is for educational purposes only, this does not constitute as trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
Long
by TRADEPROAcademy
Gold: Technical & Fundamental SHORT to $1420Gold recently held the broken support as resistance at $1475 and moved lower well. There is an indication that it could slide through the support structure immediately at $1457 and then $1445. Both Fundamentals and Technicals show a weaker gold market. The wicks that formed at the $1475 resistance mean that the sellers are strong and not to mention the volume on the swings lower was strong than any rally. The market has recently formed a month-long downward channel that we expect to hold and break to the downside. The bottom end of the channel and target is $1420, below that a slip through could bring gold down to $1380. From a fundamental standpoint, the gold price is correlated inversely to the USD. The USD price movement is based on the Federal Reserves Monetary Policy. The Fed no longer has a mega dovish stance, and just because of that in the short term we can see a stronger USD into the new year. This puts downside pressure on the gold market. Helping the bears come in on strong volume.
COMEX:GC1!Short
by TRADEPROAcademy
USDCAD gearing up for a long breakout above 1.335!Really strong resistance looks like it's about to break above 1.335, the move higher into the level started from a higher low on the weekly. There was a wick over the past week that failed at the resistance, however, if we get a candle close on the week and daily above 1.335 we will see more upside based on price action. The targeted move is 1.35 and the broken high is expected to hold support on the retrace. Disclaimer: The idea suggested is for educational purposes only, this is not trading or investment advice.
Long
by TRADEPROAcademy
EURUSD Bear signal down to 1.09, 20+Month bear channelEURUSD has been in a strong bear channel, nearly 2 years straight. A lot of its due to the ECB monetary policy that has an extremely dovish tone, which puts downside pressure on the Euro. On a technical basis on the weekly chart we got a really strong reversal at the top of the channel at 1.117 and a recent broken low that was tested and held really well by the bears at 1.109 with a long wicked candle that closed the week bearish and identified a higher probability short down to a new low. The target to the downside is the GAP start from April 2017 at 1.073. Disclaimer: This is not trading or investment advice, this is analysis used for educational purposes only.
Short
by TRADEPROAcademy