USDCHF – Limited upside pressureFX:USDCHF
OANDA:USDCHF
FOREXCOM:USDCHF
SAXO:USDCHF
USDCHF - Intraday - We look to Sell at 0.9965 (stop at 1.0000)
A 5 wave bearish count has been completed at 0.9694. Intraday, and we are between bespoke support and resistance 0.9882-0.9965. The rally has posted an exhaustion count on the daily chart. We have a 50% Fibonacci pullback level of 0.9965 from 1.0237 to 0.9694. Preferred trade is to sell into rallies.
Our profit targets will be 0.9882 and 0.9845
Resistance: 0.9965 / 1.0000 / 1.0029
Support: 0.9882 / 0.9848 / 0.9800
Fx
CAD/JPY - INTRADAY TRADE - ABCD PATTERN IN PLAYFor the harmonic traders we are forming an ABCD patter with the potential entry point being the 0.618 Fib level coming down from a zig-zag correction for the Wave traders.
As a target area I am measuring the A-D leg and using the Fib levels from those 2 swing points.
Stay tuned for the updates!
Follow and leave a like if you liked this idea and want to see more! :)
EURNZD - Dips to find buyersFX:EURNZD
OANDA:EURNZD
FOREXCOM:EURNZD
SAXO:EURNZD
EURNZD - Intraday - We look to Buy at 1.6690 (stop at 1.6655)
Buying pressure from 1.6575 resulted in all the initial daily selloff being recaptured. Bespoke resistance is located at 1.6741. The 261.8% Fibonacci extension is located at 1.6867 from 1.6526 to 1.6656. There is no clear indication that the upward move is coming to an end. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.6690, resulting in improved risk/reward.
Our profit targets will be 1.6860 and 1.6877
Resistance: 1.6741 / 1.6866 / 1.6877
Support: 1.6690 / 1.6656 / 1.6526
EURJPY – Outside day offers and upside biasFX:EURJPY
OANDA:EURJPY
FOREXCOM:EURJPY
SAXO:EURJPY
EURJPY - Intraday - We look to Buy at 120.63 (stop at 120.28)
Bullish Outside Day posted, a pattern that often indicates the end of a bearish run and the start of a new upward bias. Levels close to the 78.6% pullback level of 120.68 found buyers. Broken out of the channel formation to the upside. Reverse trend line support comes in at 120.60. Bespoke support is located at 120.63. Preferred trade is to buy on dips.
Our profit targets will be 122.34 and 122.48
Resistance: 121.21 / 122.34 / 1.2248
Support: 120.60 / 120.00 / 119.50
"GBPAUD: a long Daily Vision" by ThinkingAntsOkDaily Chart Explanation:
- Price bounced in an important Support Zone.
- Also, it reached the bottom of the Weekly Ascending Wedge.
- It bounced from there, but have not broken the Descending Channel yet.
- If it breaks it, price has potential to move up towards the Resistance Zone at 1,873.
Our Weekly Vision supports this Bull Idea. Check it!
Weekly Vision:
EURUSD-Two timeframes offer a bullish bias FX:EURUSD
OANDA:EURUSD
FOREXCOM:EURUSD
SAXO:EURUSD
EURUSD - Intraday - We look to Buy a break of 1.1155 (stop at 1.1120)
Trend line support is located at 1.1125. Majority of the initial daily losses being recaptured. Posted a Bullish Hammer Bottom on the Daily chart. Economic figures could adversley affect the short term technical picture. A break of yesterdays high would confirm bullish momentum. A bullish reverse Head and Shoulders is forming.
Our profit targets will be 1.1246 and 1.1300
Resistance: 1.1155 / 1.1181 / 1.1246
Support: 1.1125 / 1.1000 / 1.1050
EURGBP – Still offers a downward bias but wary of spikes FX:EURGBP
OANDA:EURGBP
FOREXCOM:EURGBP
SAXO:EURGBP
EURGBP - Intraday - We look to Sell at 0.8954 (stop at 0.8979)
Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 0.8860. Economic figures could adversley affect the short term technical picture. Reverse trend line resistance comes in at 0.8954. Bespoke resistance is located at 0.8955. Preferred trade is to sell into rallies.
Our profit targets will be 0.8860 and 0.8855
Resistance: 0.8941 / 0.8954 / 0.9000
Support: 0.8868 / 0.8856 / 0.8801
"USDCAD: two possible scenarios" by ThinkingAntsOkDaily Chart Explanation:
- Price was on an Ascending Channel since September '17 and broke it.
- Price is, now, facing the Weekly Ascending Trendline.
- From here, two possible scenarios:
* Long View: a Pullback to the Ascending Channel before going down.
* Short View: if price breaks the Weekly Ascending Trendline, potential to move down towards the Support Zones at 1.2858 and 1.2308.
Check out our Weekly Vision!
Weekly Vision:
Updates coming soon!
USDJPY - Wedge offers upside biasFX:USDJPY
OANDA:USDJPY
FOREXCOM:USDJPY
SAXO:USDJPY
DAY TRADE - Cancel @ 9.00pm (UK)
USDJPY - Intraday - We look to Buy at 107.80 (stop at 107.50)
3 positive daily performances in succession. Selling posted in Asia. Trading within the Wedge formation. The trend of lower highs is located at 108.40. Preferred trade is to buy on dips.
Our profit targets will be 109.00 and 112.35
Resistance: 108.40 / 109.00 / 112.38
Support: 107.80 / 107.50 / 107.00
"EURCAD: a long view" by ThinkingAntsOk4 Hour Chart Explanation:
- Price is testing the Weekly Ascending Trendline.
- Bullish Divergence on MACD.
- Potential to move up from here.
- Our targets are the Middle Resistance Zone at 1.4893 and, then, the Resistance Zone at 1.518.
Check out our Weekly and Daily Vision!
Weekly Vision:
Daily Vision:
We are looking for buy setups on lower timeframes. Updates coming soon!
Trade Idea on USDJPY by ThinkingAntsOkUse this as an idea to develop your own trade
Main items we see on the Daily Chart:
a)The price is against a Resistance Zone that was tested multiple times on the past
b)Our Entry zone is positioned on a zone in which the rejection to the resistance zone will be confirmed
c)Our Stop is positioned above the resistance level also giving enough distance to fake outs to that level
d)Our Take Profit is positioned on the next Support Zone
e)Using Elliot Wave Theory we consider that a 5th wave is remaining and we plan to catch that impulse.
We think this setup gives an intereseting Risk Reward Ratio
EURCHF Resumption of its core downtrend! EURCHF has seen a conclusive break of key support from its 1.1056/51 range lows to mark a resumption of its core downtrend, in line with our broader bearish stance following the completion of a large bearish continuation pattern in late June. We look for the trend to stay directly bearish with support seen next at 1.0989/84, but with the next meaningful support not seen until the "neckline to the base completed in July 2017 and the 61.8% retracement of the April 2015 and April 2018 rally at 1.0925/12.