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Position USDCADA great opportunity in USDCAD for position in the weekly chart with excellent risk-return. The price follow the trend for more than 15 months and now again we are testing channel support. Since December, the price has dropped sharply following the cloud trend to channel support. It has been traded in less than 1.31 in confluence with Fibonacci retracement 61%. Yesterday it closed with white Marubozu candle indicating strong buy, breaking the short-term down trend in the channel, triggering the operation in a "safe" level. In the middle of the road we still have a resistance at 1.335 which should not be too difficult to break, but delays the process of achieving take profit. Looking to CCI the price should follow the trend, at the daily chart the indicator is above 0 and in the weekly is almost there. This trade carries a risk-return of 1: 2.7 which is a good reward, in return it can be time-consuming. We can exclude the factors from the economic calendar tomorrow, probably projecting downside to the pair, and also the others that come. Trade wisely.
Long
by GFauth
USD CHF Analysis: Intraday Timeframe Bullish Chart PatternConclusion for today’s USD CHF Analysis: The USD CHF is expected to continue bullish momentum, and price should target ~1.01651. USD CHF analysis for today is carried out on an intraday (6 hour) timeframe. Over 11 months of price action is covered starting from February 16, 2018 to current date. A rising wedge is identified and helps as part of the process of providing context for price action for the duration mentioned above. A bullish flag is identified in the USD CHF with bullish price swing from January 10, 2019 to January 22, 2019 forming the pole and flag completed in 6 trading days (between January 22, 2019 and February 04,2019). Projection of the termination of the flag’s implication is shown by the red arrow i.e. the USD CHF is expected to target the upper boundary of its current wedge at ~ 1.01651. Price closing below 0.99093 invalidates the current USD CHF analysis.
Long
by Coin_Analyst
SlumpThe pair continues to decline after reaching the level of 1.15. Technical indicators have turned in the direction of sales and on the chart we are seeing a movement that is not stopping so far and the pair is at the support level of 1.1345. It is quite possible scenario that the pair will go into a correction after reaching the level of 1.13. However, at the moment we believe that the downward movement will continue and therefore we advise to take short positions in the pair and set take profit near the levels of 1.13, 1.1260 and 1.1210
Short
by SuperForex
GBPJPY SHORT (D) - Chart Analysis by Request @alanmastersThe British Pound is looking bearish against the Japanese Yen (GBPJPY). Chart analysis and signals for GBPJPY (1 Day Time Frame): Direction, resistance and support levels marked on the chart. On the higher time frames, GBPJPY is in a downtrend. After a strong bounce, it didn't manage to break above EMA200 (orange line) and started to retrace easily breaking below EMA100 and EMA10. When price is trading below EMA10, that's leaning bearish (bearish potential). Volume is decreasing. MACD Histogram favors the bears. GBPJPY is to continue falling. Note: If price breaks and closes above 143.30 (EMA100), these signals are invalidated and a new analysis is needed. This is not a trade advice. This analysis was done by request to please one of our great followers. Thanks a lot for the continued support. Namaste.
Short
by AlanSantana
2
EUR CHF Analysis: 4 hour Timeframe Bullish Move Not Yet Over..September 10, 2018 to current date presents a sideways market action in the EURCHF, with November 27,2018 to January 24, 2019 forming a bottom reversal pattern known as the inverted Head and shoulders pattern or head and shoulders bottom. Confirmation of the pattern occurred on January 29, 2019 at ~1.13435 and projection of the minimum target for the EURCHF is the distance from the head to neckline projected on top of the 1.13435 price level. Retracement of price action after hitting a price high of 1.14438 on February 05, 2019 is not anticipated to terminate the current trend from January 03, 2019. Potential support level or region for the EURCHF is 1.13435 prior to the resumption of the bullish trend.
Long
by Coin_Analyst
USD SGD Live Update: Bearish Trend is Not Yet Over...Conclusion for today’s analysis: The minimum expectation for the USDSGD is ~1.33439. Price action from May 03, 2018 to current date is shown in today's analysis for the USDSGD on a 6 hour timeframe. A top formation that took almost 6 months to complete i.e. between July 02, 2018 to December 27, 2018 is identified as a complex head and shoulders pattern. Confirmation of the chart pattern occurred on the January 04, 2019 when price action closed below the neckline of the pattern at ~1.36138. The bearish implication of the pattern mentioned above is not yet complete and the minimum expectation for price action is 1.33439 achieved via a vertical projection of distance between the head of the pattern and the neckline. Any current bullish swing or retracement of the current uptrend should be considered for entry point into a bearish position(s).
Short
by Coin_Analyst