Chartist-Trading

Chartist-Trading

AUDUSD. The pair continued lower to our initial target at 0.7175 Now, a pullback at the broken base and at the top of the channel that contains the new downtrend provide fresh sell opportunity. We set our stops above 0.7240 and our targets at 0.7170 and 0.7130 which is the projected target of the broken formation

Chartist-Trading

EURUSD is testing the channel as seen in the chart and the important Sept-Nov lows of 2020. The move is likely to continue even lower as the momentum is strong enough. RSI is at extreme oversold levels making a new low as the most probable scenario. We think that the 1.1600-10 area will hold the move for today. Although it is a risky trade we will at buy the...

Chartist-Trading

AUDUSD broke out of its base at 0.7220-30 giving a sell signal. Of course there is always a chance of a false break, but we follow the breakout with sell positions with stop at 0.7250. The main target of the breakout is the 0.7130 area and our initial target is at 0.7175.

Chartist-Trading

NZDUSD: RSI divergence, test of the downward channel and reversal candle, make a short tern pullback at least until the broken base of 0.6985-95. We try buy orders at current levels, setting the stop below the lows, targeting 0.6985-90.

Chartist-Trading

GBPUSD. The pound has a history of respecting the channels and the 1.3520-30 area is where it tests it for today. The channel has already been tested, so we are buyers at these levels (1.3535-40) with stops below 1.3495 and initial target at 1.3580.

Chartist-Trading

GBPUSD: The pound doesn't seem to go anywhere and it may continue its short term sideways movement. We are buyers at the 1.3655-65 area for a short term bounce at 1.3700-05. We will set tight stops below 1.3645.

Chartist-Trading

EURUSD: Buying the reversal candle in the hourly chart. Stop 5 pips below the low of the candle. Target 1.1710

Chartist-Trading

US OIL: The uptrend is approaching important resistance area at 77.00-30. July's top alongside with the upper trendline of the channel that contains the uptrend, will make the continuation difficult without at least a short term pullback. We will try shorts at the 77.00 area. Stops above 78.50 targeting 74.50-00

Chartist-Trading Updated 

GBPAUD: The pair is testing the strong support of 1.6950-60. An upward reaction seems likely. So we try Buy positions at 1.8760. SL below 1.6920 and Target 1.8805.

Chartist-Trading

AUDUSD: The area of 0.7315-20 is the first important resistance for today as it contains the previous highs and the PP R2. We will try short positions at 0.7315. We will set our stops above 0.7336 targeting 0.7290.

Chartist-Trading

BTCUSD. The resistance at 45.000 is guarding the downtrend. The upper trendline of the downward channel alongside with the EMA89 are making a new leg down possible. Initial support at 40750-800. A break above 45.000 will open the road for 48800...

Chartist-Trading Updated 

EURUSD. The bullish daily candle after the FOMC and the inverted H&S pattern that is forming in the 1H chart, are keeping the bullish scenario for EURUSD intact. We are holding our long positions open and expecting for an initial break of the 1.1730-35 resistance in order for our scenario to be validated (the upper trendline of the downward channel) . The break of...

Chartist-Trading

US Dollar Index Daily: Are we in front of a right shoulder formation in an H&S pattern for the Dollar Index?. If so, a smaller H&S that seems to be forming in the 4H and 1H charts must be broken to the downside, opening the door for general dollar weakness. This scenario fits perfectly with the Daily Bullish reversal candles that we saw after the FOMS last week at...

Chartist-Trading

GBPUSD. Although the pound didn't rise from our initial support area at 1.3690-00 and pulled back lower, we still hold our bullish view, as price remained above 0.618 retracement levels. For today, the initial test is the 1.3680-85 area. We will BUY at current levels adding more at a strong bullish candle with close above 1.3685. We will set our stops below 1.3645...

Chartist-Trading Updated 

EURUSD: Reversal candle in the daily chart and an inversed H&S formation in the hourly chart. The tested resistance at 1.1745-55 met sellers for one more time yesterday and today the pair is trying to for a base under these levels. If a right shoulder in an inversed H&S pattern is going to be formed, then 1.1715-20 will hold any retracement. The break of 1.1755 on...

Chartist-Trading Updated 

AUDUSD is in a corrective formation in the hourly chart and is set to continue higher. The previous broken resistance at 0.7270-80, alongside with PP0, Bollinger Bands and EMA89 provide excellent support for this scenario. So we follow it with Buy orders at these levels, add more at 0.7275-80. Stop will be set below 0.7250 and targets 0.7315 and 0.7330

Chartist-Trading

GBPUSD broke the resistance at 1.3700 and the daily candle alongside with the xtreme levels in the hourly RSI show that the move is going to continue higher. Shorts could be tried at these levels for a retracement back to 1.3710-20. Any retracement will give an excellent BUY opportunity

Chartist-Trading

USDJPY: The pair has entered into the sell zone of 110.10-110.40. We will split our position in two parts. Sell at current levels (110.08) add more at 110.35. Stop above 110.60. TP@+20pips