MujkanovicFX

MujkanovicFX

Couldn't resist not analyzing this setup! Here it is for educational purposes. Never chase a breakout - Wait for pullbacks to get a more attractive reward-to-risk for your setup. The trade went like this: 1. CAD labor market numbers strong vs USD labor market numbers weak (13:30 London time) 2. Breakdown on strong selling volume 3. Pullback to important...

MujkanovicFX

Happy Friday traders! Time to make an update on GBP/USD. Here is a FIST (Fundamental, Intermarket, Sentiment, Technical) analysis of the pair ahead of the NFP and potential trade deal. FUNDAMENTALS Services and Manufacturing PMIs in the UK came in better than expected, but the main market theme is still whether the UK and the EU will reach a trade deal over...

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Hello traders, as discussed in our Morning Meeting, here is the setup in Brent crude that we're following. OPEC has a two-day meeting with Russia discussing the recent oil rally, and reports emerged that some members are reluctant to cut their production, putting pressure on oil prices. Brent has already formed a fresh swing low, showing acceptance of lower...

MujkanovicFX

Hello traders, happy Wednesday! Time to make some money. Today's Trade of the Day is EUR/GBP. With Brexit pessimism rising, I expect further weakness in the pound during the week. Here is the complete analysis. TECHNICALS: The pair broke above a long-term falling channel, but big players will likely drain liquidity to get into the market at more favorable...

MujkanovicFX

Hello traders, TECHNICALS: The pair reached multi-month lows and continued to trade in a healthy downtrend, although the current fall looks somewhat overextended. Selling volume is rising, but institutional players haven't had the opportunity to square up their books just yet, which is why I expect a pullback to the liquidity zone. POSITIONING: Short...

05:11

MujkanovicFX

Good morning traders, here is our first morning meeting. Let's see what's moving the markets and what we can trade today.

MujkanovicFX

Hi traders, here's an update on USD/CAD and how to trade the pair the next trading week. TECHNICALS: USD/CAD has been in a strong downtrend on the daily chart after respecting a long-term falling trendline and after higher oil prices supported the Canadian dollar in the last few weeks. The pair is now completing a correction, which can be seen on the 1-hour...

MujkanovicFX

Hi traders, here's Brent crude analysis for the following trading week. Oil is still trading in a well-defined long-term uptrend on the daily chart and completed a price correction the previous week, forming a quite bullish daily close on Friday. This signals that sellers are rejecting lower prices at the moment. The 1-hour chart shows a possible ascending...

MujkanovicFX

TECHNICALS: AUD/NZD is trading at a major daily resistance level and started to form a bearish wedge pattern on the H1 chart, where a fresh lower high is already evident. The bearish wedge formation signals weakness in the recent uptrend, with projections above previous peaks failing to move significantly to the upside. A break below the bearish wedge provides...

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TECHNICALS: Friday's bearish candle is now followed by an indecisive doji. USD strength put some pressure on Gold, but looking at the USD index, we could soon see further weakness in the currency and a rise in Gold. The H1 trend shows a retracement near a structural support and a formation of a bullish ascending triangle, which if broken, could push the price...

MujkanovicFX

Today's update on the GBP/USD pair. TECHNICALS: Cable faced some strong demand in the last few hours after reaching a major H1 structural support. Recently, the H1 downtrend showed strength and accelerated to the H1 support, but the pullback formed a higher high and doesn't really show much decision to break below the 1.3013 level. A break below the 1.3085...

MujkanovicFX

Hi traders, here's today's update on EUR/USD. Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks! TECHNICALS: The EUR/USD pair broke below a H1 structural resistance but managed to return to its previous range, signaling a possible fake downside breakout. The downtrend projections...

MujkanovicFX

Hi traders, here's an analysis of Gold for the upcoming trading week. Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks! TECHNICALS: Gold has been in a strong uptrend on the daily chart but started a strong correction on Friday after better-than-expected US labour market numbers...

MujkanovicFX

Hi traders, here's my view of Brent crude in the upcoming trading week. Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks! TECHNICALS: Oil has been in a nice daily uptrend recently and entered a correction phase in the last two trading days. The daily close is quite neutral, and...

MujkanovicFX

TECHNICALS: Morning traders! Brent crude is reaching its highest level since early March on US stimulus hopes and ahead of the EIA oil inventory data. Strong breakout candle forming on the 1-hour chart. RISK SENTIMENT: Risk-on this morning, supporting higher oil prices. HOW TO TRADE: Looking for a pullback to previous resistance and trading pullback weakness....

MujkanovicFX

Please hit the "LIKE" button if you find this post useful. Also, don't forget to subscribe to get more trade ideas like this. Thanks! TECHNICALS: Hi traders, here we have a possible buy opportunity in the EUR/GBP pair. The daily chart formed a bullish reversal pattern right at the 78.6% Fib level and returned inside the structural framework, signaling a fake...

MujkanovicFX

Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas. Thanks! TECHNICALS: The GBP was the best-performing major currency in July, indicating the possibility of a mean-reverting behavior in early August. The pair has already reached a major daily resistance level where sellers joined the market and pushed...

MujkanovicFX

Please hit the "LIKE" button if you find this post useful. Also, don't forget to subscribe to get more trade ideas like this. Thanks! TECHNICALS: Brent crude is trading at an important long-term rising trendline which acts as a solid support at the moment. The 1-hour chart shows a nice retracement today, signaling further strength in the price from a technical...