MujkanovicFX

MujkanovicFX

USDCAD completed a pullback to the previous swing low and is forming a strong marubozu candlestick on strong oil.

MujkanovicFX

Here we have a nice sell setup in USDCAD. The pair has broken below the previous swing low to trade at the lowest level since February 6, being in an overall downtrend since the beginning of the year. Just like in EURUSD, we can see USD weakness, combined with a rather strong CAD that benefits from rising oil prices. Recent lower highs on the H4 chart support our...

MujkanovicFX

Hi guys, EURUSD broke above the recent price structure (swing high) and formed a fresh higher high on the 4-hour chart. Now, the pair trades at a resistance-turned-support, which could lead to further strength in the pair. Bear in mind that FOMC meets today at 19:00 GMT. The US dollar is under-performing against most majors ahead of the meeting, as investors...

MujkanovicFX

AUDCAD is trading a rising channel, which looks like a consolidation phase of a longer-term downtrend in the pair. The pair might continue to trade inside the rising channel until the longer-term falling trendline is reached, after which traders could enter with a short position if the trendline resistance holds. Rising oil prices, as shown in one of my...

MujkanovicFX

The support around 19.20 failed to stop the downward pressure in USDMXN, with the pair breaking below the neckline of an SHS pattern. The pattern suggests a target at around 18.94, but I would prefer to follow a more conservative approach and aim at 19.00 instead, which also aligns with a rising trendline support.

MujkanovicFX

The recent uptrend in USDCHF took a break and reached all the way down to 1.0000 - an important round-number support. In addition, this price also acts as a horizontal support of the previous attempts of the pair to push above parity. Fibs show a 50% retracement at the moment, and the pair could continue to the upside if the 1.0000 levels gets decisively...

MujkanovicFX

Gold has reached new highs, the highest point since April 2018. The metal is overall trading inside an upside wedge, broke above a weekly trendline and doesn't face any significant resistance until $1.360. USD weakness may push it to the mentioned upper resistance. CommaFX traders are long in gold from $1.310. Join our Telegram channel to receive more trade setups. t.me

MujkanovicFX

Hi guys, Brent crude formed an inverse head and shoulders pattern on the daily chart and broke above the neckline on Feb 14. The pattern suggests an upside target of around $77, but we might also see a pullback to the neckline before the target is reached. This trade has also been posted on our Telegram channel, feel free to join: t.me

MujkanovicFX

Hi guys, take a look at this potential sell setup in CAD/JPY. We have a trendline resistance, horizontal resistance and possible double top formation. I prefer those setups with three confirmations, although this might be counter-trend trade (in the short run). Remember to always follow your risk management rules strictly. Make sure to follow us on Telegram and...

MujkanovicFX

Gold is forming an interesting setup on the daily chart. The weekly trendline seems broken, and the yellow metal has just finished a pullback to a horizontal resistance-turned-support. Below the horizontal support, the lower wedge line should provide additional support if the first support breaks.

MujkanovicFX

Hi guys, a beautiful bearish wedge triggered a short order after the price formed a pullback and lower high. We also have a Fib 61.8% retracement, marking that the price-correction (short-term uptrend) has potentially finished. We took this trade earlier this week in our Telegram group, feel free to join our channel: t.me

MujkanovicFX

Here we have a nice setup on GBP/CHF after negative news around Brady Amendment and Brexit hit sterling. The left chart shows the daily TF with a bearish Cypher pattern, while the right chart shows a channel breakout to the downside after a Double Top pattern on the 4-hour TF. Notice the daily trendline resistance as well - strong selling signals here.

MujkanovicFX

NZDCAD didn't manage to trigger our short position as it found support right at the SHS neckline. The pair is now flirting with a major resistance level around 0.9070, with a third attempt to break above that level. A failure to break above could send the pair down again to the lower 0.89xx levels. Let's wait for the daily close and see whether a short is possible...

MujkanovicFX

Hi everybody, Gold creates a rising wedge pattern during a previous downtrend, which is a bearish continuation pattern. Notice the Monthly TL resistance, horizontal resistance and bearish divergence in the RSI indicator. Our short-trigger would be a break out of the wedge to the downside, combined with a fall below the previous swing low at around $1,277.

MujkanovicFX Updated 

Hi all. Here we have the 4-hour EURCHF chart with an analysis that signals further weakness in the pair. Let's cover them one by one: 1) Longer-term daily trendline resistance, 2) Horizontal resistance, 3) Rising wedge during downtrends (bearish), 4) 5-wave pattern inside the wedge completed. For a short entry, I would like to see a decisive close below the lower...

MujkanovicFX

A chart tells thousand words. The pair completed a pullback to the longer-term trendline and formed a fresh lower low on the daily chart. Some traders may find this enough to enter with a short position, but I like to have some additional confirmation. A lower low doesn't necessarily mean a lower high, since the price can still go to the upside and create a higher...

MujkanovicFX

Hi all, take a look at this USDCAD trade. I'll post it as Education since there are no additional confirmations for a long setup. The pair broke above a triangle pattern, made a pullback (triangle resistance became support) and reversed in the direction of the breakout. Profit target is the height of the pattern (around 137 pips), projected from the breakout point.

MujkanovicFX

Gold has tried to break above the $1,300 handle several times in the last few days. Ultimately, gold bulls have failed to break above that level, and the price retraced to $1,276 early this week. If you're trading gold, always pay close attention to the US dollar index. Notice today's Spinning Top pattern on the USD index, combined with the horizontal resistance....