Pair broke the key trendline support with strong momentum on Wednesday. This could slip the pair another 500 pips deeper. Which is around 1.4050/1.4000 area. "Trading is a game of probabilities, not certainties"
IF the price holds below trendline support on daily closing basis, Look for sell. Target areas are 327.50 followed by 303.50 area. "Trading is a game of probabilities, not certainties"
Pair rejected from confluence of resistance. This could possibly slip the pair at 1.2800 followed by 1.2600 and 1.2350 area in the coming weeks.
Kiwi is in the making of Head and Shoulders pattern. Now its testing the neckline support. Looking to sell on neckline breakout. Downside target comes at 0.7000 psychological support.
GBPJPY is in a longer-term down trend and last weekly candle broke the Ascending triangle support and closed below. Downside target areas are 138.50, 135.50, 132.00, 129.00. "Trading is a game of probabilities, not certainties"
A week ago pair closed below short-term trend line support and last weekly was rejected from 20 week EMA and form a bearish pin bar and closed below trend line support. Pair is now targeting to 105.50 zone, which is a horizontal and 61.8 Fib support level from 2016 June to 2016 December rally. If this idea works, we will have a potential 2.5R trade. "Trading is a...
Pair is forming a rising wedge pattern. Breakout of wedge support could possibly slip the pair at 0.8900 area. "Trading is a game of probabilities, Not certainties"
It is very likely that the pair is coming back to test the broken channel resistance as new support. 127.00 area is now a confluence of support area. If it tests 127 area, it is in my opinion a reasonable 4R long entry zone. Resistance comes at 133 followed by 139 area. Support at 126.00/125.80 area.
USDCNH bounced from the support zone and formed a weekly pin bar. We can either place a stop order over the pin bar high or place a limit order at around 50% of the pin bar range while hiding SL below the support zone. Possible upside targets are 6.7950 followed by 6.8450 and 6.9150. This is a potential 3R trade, in my opinion. Remember some Chinese and US Data's...