EURUSD [1-3 weeks view] +Long with low conviction (+)
Buy on dips above 1.119
Stop Loss: 1.110
Take Profit: 1.157
Weekly
Market is testing descending wedge pattern support with 1.119/1.120 as a key support level.
21RSI is holding above 33.5% support level where price has been shown to react/bounce before (as indicated by arrows), however still below the 50% level.
1.119/1.120 key long term support also corresponds with long term pull back support line (in light blue)
Daily
21 RSI reacted above ascending channel support with bullish divergence noted since mid May 2018. However do note also that it is still below the 50% level.
Overall, this is a low conviction bullish trade as indicators have yet to confirm any bullish breakouts. The only thing that is clear is the strong support.
Fx
NZDUSD TO 0.69ENTRY: 0.67892
SL: 0.676
TP1:0.682
TP2: 0.69
RRR: 3.93
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ZCash Intraday Analysis: 1 hour Time frame UpdateThe 1 hour timeframe is presented in today’s Zcash analysis. The bullish price swing from ~ $49.04 on December 15, 2018 to 73.19 December 24, 2018 was immediately followed by a retracement, and lastly by sideways market action (i.e. sidetrend).
Chart pattern used in this analysis to describe the sidetrend beginning on December 27, 2018 is an ascending triangle, which traditionally has a bullish implication.
The vertical blue arrow indicates the width of the ascending triangle i.e. $64.70 - $58.66 = $6.16. $64.70 and $58.66 mark the breakout point to the upside and downside respectively.
The width of the triangle can be projected on to the breakout point to determine the minimum estimate for the ensuing move.
Going upwardsThe pair entered the ascending channel marked up with blue lines. We can also consider the current position as inverted head and shoulders pattern. The resistance level is at the 1.2780 level. We suppose that if the pattern will be finished, the pair will be able to exceed the upper limit of the channel.
Therefore, we advise you to take long positions. Consider the marks near the 1.2860 and 1.2920 levels.
EUR/USD - INTRADAY SIGNAL - STAY TUNED FOR THE UPDATESPay attention to the updates section as I will be posting when I will be entering my trade.
Please follow and do leave a like if you enjoy what you see want to see more live signals :)
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.
Dollar sell continues to gain traction- now bolstered by fundiesAlright folks,
I identified a sell zone in dollar (dxy) way back in May 2018. In October we reached the zone (linked), and since then we've kind of stagnated below the sell zone. Now- with the holidays out of the way, my prediction stays true- Dollar will be a sell in 2019. Not only does my method line up with the prediction, but now fundamentals are starting to align as well for the following reasons...
1. Generally, the market doesn't expect the FED to raise rates in 2019
2. BONDS have bolstered this idea, as they've fallen at or below the FED funds rate
3. Trump vehemently supports a weaker dollar
4. Inflation has taken a down turn, however; JOBS have not (this will be key to watch and will give good ideas as to where FED will take rates and if we enter a recession)
Correction endsOn the chart, we observe that the pair is corrected after a sharp drop and during today's trading still remains flat. The trading goes below the 1.1410 mark and technical indicators point to a sale.
Despite the sharp increase in volumes, we believe that the downward movement will resume. We advise you to look for points to enter short positions, considering the upper limit of the 1.1410 mark. Set your targets at the 1.1340 and 1.1310 marks.
EUR AUD LONGReasons For The Trade (always Fundamental and Technical - always):
EUR: ECB tapering their bond buying, and end of QE now in sight and signalled to the market by Mario Draghi in last meeting.
EUR: recovering from losses from Italian political tensions in November (Italian Budget concerns now no longer a concern)
EUR: Any good or semi-good data will be supportinve of EUR
AUD: Stockmarkets still in decline and AUD is a risk averse currency
AUD: RBA signalling to the market that an interest rate hike is further away and no intention to raise rates in near future
AUD: Sensitive to USA-China trade war and any stale mate on negotiations would weigh on the AUD
TECHNICALS: EURAUD created a new floor at 1.6050 a touch or bounce off that area would signal a bullish bias. The 1.6050 zone is also confluent with a 50% Fib retracement from recent move up on 4 HR chart
Risks To This Trade:
- EUR: Interest rate tightening has been pushed back a little too far in the future and data dependent - so bad data will be the risk here.
- AUD: Trade tensions with China alleviated with Trump and XI of China making a favourable trade deal. Also stock market bounce will be a risk to AUD causing it to strengthen mildly.
Going beyondAt the moment, we are seeing how the pair is returning to the downward channel. Also we see a weakening of the upward impulse. The technical indicators point to short positions.
We believe that the pair will go down to the marks of 1.2590 1.2540 1.2485. Therefore, we advise you to look for points to enter short positions and consider the above levels as your goals.
Pair is forming a patternAt the moment, our pair has found the resistance level at 1.1480 mark and then headed down. Technical indicators point to a purchase, but we believe that the pair is now forming the head and shoulders pattern. At the moment, the second shoulder is being formed.
Therefore, we advise you to wait for the end of the formation of the second shoulder and take short positions. Resistance levels are at the 1.1480 1.1420 and 1.1360 marks.
Bitcoin Analysis: Market Outlook For The Rest of 2018The previous analysis discussing a possible bullish price swing in Bitcoin can be found below.
Bitcoin analysis for today takes a look at what is possibly in store for Bitcoin for the rest of the year 2018.
A logarithmic scale is used on a Daily time frame shows the price of Bitcoin exiting below a bearish channel on November 24, 2018. Price action is currently testing the channel line again after selling off to about 3215.20 on December 15, 2018.
An alternative valid interpretation for price action is provided by the symmetrical triangle that lasted for about 9 months which saw prices collapse upon exiting the chart pattern.
This analysis concludes that it is possible for Bitcoin to sell off again and move past its previous low of 3,215.20. This is based on considerations that the symmetrical triangle is in a position of continuation and also the minimum projection for price using the width of the triangle has not been reached..
Arguments in support of continuation of the current bullish price swing from the December 15, 2018 bottom in price involves re-entry into the current bearish channel. In this scenario, the upper limit of the channel would be a minimum target for the price of Bitcoin.
ETH/USD - Bottoms In!Please hit the "LIKE" button to receive my daily updates!
A big WELL DONE to everyone who followed my BTC analysis. We hit the EXACT bottom to the exact candle and have been in the money since. good job!
I called the BTC bottom perfectly which is great news. Now we can start monetizing on the large volume Altcoins! First on the list, Ethereum!
Today ETH has broken out of the side-wards resistance line that held price down for so long. This is great news for ETH holders as it gives a complete new lease of hope after a continuous price depression that showed no signs of stopping. Now that price is broken, where to enter? Well, before ANY entry you want to see a level where the probabilities stack up. A good place for this would be the side-wards resistance line we've just broken turning into a support line. Why is this such a good level for an entry? If we test the level we've just broken this shows a total disregard for the previous bearish movement and shows that something new is happening.
A 12% move in 1 day is not a coincidence. It means something even if only short term. Take action and monetize and stop worrying.
Bear in mind, that the move has ALREADY LAUNCHED. So do wait for a move. Chasing it now is eating like a bird, and pooping like an elephant. Wait for the retest and get in at the side-wards resistance turned side-wards support line before entering the trade.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will be going more in depth into this analysis if it receives sufficient attention.