AUDCAD - Data Divergence Inspires Shorts!RBA Gov Lowe came out and said that it is "not unrealistic"
to expect a further cut to the RBA's cash rate.
We like playing AUD weakness against recent CAD
strength, after a splendid CPI beat yesterday.
Prefer pullbacks to get aboard, towards the short-term
resistance because the main target is close.
Fx
Long Shot Aussie/USDLooking at the Weekly chart, we can see the formation of a descending wedge
Looking into the Daily chart, we see yet again another descending wedge. Its a more defined wedge on the 4HR chart.
As we can see from the 4HR chart, not only is there a descending wedge, but we actually see that price has just broken past the resistance line of the pattern.
It is important to note that although all these patterns are present and we can gain evidence for a winning trade, we must remember the market can still push price lower to 0.67280 before the reversal takes place.
Potentially Strong Reversal Coming SoonAUDJPY Daily chart shows a slightly ascending channel following by a drop to the 75.227 support line and breaking it. We could see a potential reversal at this point or it can reach 71.018 before reversing.
Looking in at the 4HR chart, we see an evening star formation with an impulse to the upside before entering what now looks like a consolidation period.
Scaling into the 1HR chart, we can see the formation of a descending wedge in place of the consolidation period of the 4HR chart.
All these descending chart patterns in multiple timeframes indicate that a strong reversal is on its way. If you're watching this pair, I hope you can capture the move!
USDCAD – Outside day and wedge formation offer a downward biasFX:USDCAD
OANDA:USDCAD
FOREXCOM:USDCAD
SAXO:USDCAD
Weekly – Bearish Outside Candle with bearish expanding wedge pattern
Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday
We look to sell at 1.3400 Stop 1.3440 Target 1.3115
Economic figures could adversely affect the short term technical picture.
Good luck!
"Long Movement" USDCAD by ThinkingAntsOk4H Chart Explanation:
- Price is on a lateralization since March.
- Price bounced on the Support Zone and broke the Descending Trendline.
- Now, it has potential to move up towards the Resistance Zone at 1,3498.
Weekly Vision:
Daily Vision:
Updates coming soon!
EURUSD - Bias Negative, Waiting for Draghi at SintraSlow morning in FX. Most traders are waiting for
Draghi at Sintra or the FOMC on Wednesday.
Euro fell back after the bullish ECB meeting and
now momentum is negative. Is the market is ready
to embrace a U-turn and explore the opposite direction?
Only Draghi or Powell will provide the answer.
Play continuation breaks, likely on any Sintra news today.
FOREX - INTRADAY LIVE TRADING - STAY TUNED FOR THE UPDATESPay attention to the updates section as I will be posting when I will be entering my trade.
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The analysis is made based on order flow using Volume Profile + EW
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Pivotal week in actual currencies? The one true shitcoin(s)Not financial advice. I’m not a financial advisor. I’m learning to trade. Learn to trade.
AUDUSD, or xxxUSD looking bearish on longer timeframes.
USDxxx looking like ATH’s xxxUSD looking like ATL’s.
Any thoughts/posts/analysis would be greatly appreciated!
“Big week in xxxxxx this week guys” lol. But, we are about to break down through daily/weekly swing lows. This week we can see if there is bullish divergence on the D/W.
RSI HBD on the M (Jan/Feb 19) signalling continuation of the downtrend.
We are sitting above historical support (Jan 19 lows)
Retested the bottom of desc tri. Target of @ .663 area . Jan 19 swing low @ .67445
EUR/USD - BACK INTO THE 1.20s?I would've hoped for a stronger breakout coming out of the ending contracting diagonal so that makes me believe we could come once or even twice more back down to test the lows, maybe forming a double / triple bottom along the way which could in terms initiate the move to the upside.
Let's see :)
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None of the information above constitutes any form of investment advice. All of the opinions expressed are solely personal and are not a recommendation to trade any form of asset whatsoever. Online trading is extremely risky and you should seek advice from a certified professional. Past performance is not indicative of future results.