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Weekly50ema

EURUSD Might Attempt An Up Move to 1.14! A LONG TRADE SETUPENTRY AT AROUND: 1.12600 LEVEL STOP LOSS: 1.12000 TAKE PROFIT: 1.14000 RR: 1:1 On technical perspective the triangle has broken out and the price has retraced for us to go LONG here. The triangle breakout confirms that EURUSD is starting to consolidate and aim towards the weekly 50 EMA. With all the rate cut news going on and the US economy slowing, it should help this PAIR reach the 1.14000 in the near future. shall there be any updates i will update them below. cheers
Long
by FX618Analysis
US-SINO Trade Deal Could Make AUDUSD Reach 0.72500. LONG TRADE!With the trade deal certain to be reached soon between the world's two largest economy, AUSSIE stands to benefit as CHINA usually purchase many raw materials from Australia and therefore we could see AUSSIE appreciate against many pairs. However in this case against the USD the gains might not be that high as compared to other safehaven FX pairs such as CHF and JPY. The weekly 50 EMA on the weekly chart is acting as a potential dynamic resistance and is preventing aussie from reaching new highs against the USD. In this trade setup, the long term channel has been broken and price retraced to daily 50 EMA. The primary target of 0.72500 lies where the weekly 50 EMA is present. The price is also building a constructive uptrend on the daily charts, where beneath the trendline we have our stop loss set. Below are the trade entry and exit information: Instant entry: at around 0.71300 level Stop loss: 0.70150 Take profit: 0.72500 RR: 1:1 Technical picture for this pair is pretty good however in the coming days it will be safe to monitor the fundamental aspects of this pair and see how it performs. shall there be any updates i will update in the thread below. please leave a LIKE if you find my ideas useful and follow me if you want to receive further trade ideas in the future. cheers
Long
by FX618Analysis
AUDJPY Range Breakout May Be A FAKEOUT! Look at the attached image where price is confined in a channel of a weekly chart. We can see the presence of the weekly 50 EMA which often acts as dynamic support and resistance in most cases. The price did breakout from the range but however it failed to close above weekly 50 EMA! The price is now headed back to test the range's resistance and most of the traders would think its a good opportunity to enter at this stage. Well fundamentally its a good setup to enter as the trade deal is almost done which usually helps the AUD in this case however looking at the technical perspective we have to be concerned that the price has NOT yet closed above the weekly 50 EMA! so what can we do to trade this pair cautiously? Well logically we should wait for the weekly candle to close above the weekly 50 EMA and go LONG from there with the upper end of the weekly channel as our primary target. As for now i want to see where the weekly candle closes and how does the price behave in the coming weeks before i take this pair LONG. Hope you find this analysis useful, if you do please leave a LIKE and FOLLOW me if you want to receive future trade analysis. cheers and thanks
by FX618Analysis
EURJPY (CROSS) LONG Trade Setup! En-route to 128.000 levelTRADE TYPE: INSTANT EXECUTION AT AROUND 125850 LEVEL TRADE TYPE: BUY (LONG POSITION) STOP LOSS: 123.875 TAKE PROFIT: 128.000 PRICE HAS ALREADY CLOSED ABOVE THE DYNAMIC RESISTANCE OF DAILY 50 EMA GIVING ME ENOUGH CONFIRMATION TO GO LONG ON THIS TRADE. Furthermore The EUR is likely to appreciate soon against the USD because of incoming USD weakness. The price is currently confined in a channel and is likely to be en route to 128.000 level where the weekly 50 EMA is also present. there are various technical aspects and fundamental parts that are not visible on such short timeframes. On a longer timeframe based on support and resistance levels the CROSS seemed to be headed up for now. cheers, shall there be any updates i would be providing them in this thread.
Long
by FX618Analysis