TheFxAce

TheFxAce

We are approaching a HUGE monthly resistance @ 1.135 where price has dropped sharply from before and given the fact that the uptrend on this pair is extremely over extended and very over bought given the 12 month straight rally from the bottom of the range. I am expecting a pull back on this pair very soon at least to the previouus high that was taken out. The...

TheFxAce

Last week the EURGBP broke out of a weekly resistance area and closed thee week well above it , the pair has also been on an 8 week up leg which looks to be targeting the weekly SUPPLY/SELL zone that starts around 0.89 before we hit that i expect a small pull back down towards the resistance that was broken last week. So today I will be looking to SELL this pair...

TheFxAce

Looking at the Monthly and Weekly charts a clean drop down towards $12,000 is on the cards if we get a weekly close under the current down trends low at $18,000 as I've drawn on the chart the $12,000 area is a nice Monthly DEMAND/BUY and is the area where the previous uptrend really took off from we do have a previous HIGH around the $14,000 mark this may offer a...

TheFxAce

We have finally got a WEEKLY close on GOLD under the 1700 level which was a huge support level at the bottom on the sideways DISTRUBUTION range we have been in since 2020 so were to next ? As you can see the green levels I have marked on the charts we have a MONTHY DEMAND/BUY zone that starts at 1600 and a Weekly DEMAND/BUY zone starting at 1630 so I expect the...

TheFxAce

Just a qucik update on the CADJPY trade from this week as I wrote in the last post after price had took out the 2008 HIGH and then close back under this level then we would get a correction down towards the 107.5 area which was the previous high in current trend. This scenario played out last week with us selling early on Monday morning and dropping down to the...

TheFxAce

Ok finally we have a Daily SELL signal on my indicator as per my post on the 07/09/2022 were in my analysis of the CHFJPY I was looking for a signal to sell above 146 as we entered a long term SUPPLY/SELL zone. This pair has rallied pretty hard since I posted that analysis and there has been no signs of it slowing down till today after it broke the 150 mark...

TheFxAce

A lot of strong comments coming out of Japan today similar to last week when price was at the 145 will an attempt to break this level result in actual intervention ?? The Yen pairs are all selling off after the latest comments I am waiting for a confirmations SELL signal on my indicator to enter the USDJPY.

TheFxAce

Quick update on my GBPUSD analysis from the other week the first part of the idea has went as thought we got the buying reaction at the 1.142 level which went all the way up towards the first target area above 1.17 which was the previous weekly low that was taken out in the current trend to reach the 1.142 low. As explained in the post once the 1.172 previous...

TheFxAce

Yesterday I posted a SHORT idea on the USDJPY were I was looking for a break and close with SELL signal on my indicator of the bearish flag pattern that was forming while paying attention to the CPI which came in above expectations and blew any shorting opportunity out the doors lol. As explained yesterday if we got a break above Monday's HIGH we would then go up...

TheFxAce

Yesterday's CPI data in the US was like a bomb in the markets things went a little crazy during the US session after the news this resulted in my short term trade idea on the GBPCHF which triggered yesterday to get stopped out it happens this is trading :) I still believe that we will get a correction up towards 1.13 though we have now broke the 2020 low and you...

TheFxAce

As per my trade idea earlier today price dropped below the 1.112 level the a nice BUY signal occuring straight after the bounce below the level will target 1.13 in the short term.

TheFxAce

Today I will be looking to SELL the USDJPY on a clean break of the bearish flag that is forming and will be targeting the previous HIGH in the current trend that was taken out last week this should act as a nice support allow there could be a deeper correction down towards the Daily DEMAND/BUY zone marked on the chart above. I will want to see a clean break and...

TheFxAce

This pair has just been grinding down towards the 2020 LOW at 1.112 it did get a slight bounce here from the open yesterday and is again aproaching this level wiith MACD divergence signal starting to occuring on the 4HR chart, we are also extremely oversold at this level I am expecting a nice reaction at this level again. I will wait for a signal to occur on my...

TheFxAce

Just a quick update on the GBPUSD LONG trade that I posted the other week after we hit the 1.142 low from 2020 as explained in that post a strong reaction at this area was expexted with a first easy target above 1.17 we are more or less at this level now price may continue to rise though will pay attention to the CPI in the US. I did explain in the last post we...

TheFxAce

Just a quick update on today's SELL idea on the CHFJPY we just got a confirmation 30 SELL signal on the indocator at 149.500 as explained iit the early post that we would enter on the first signal above 149.

TheFxAce

Today I will be looking to SELL the CHFPY above 149 on any 15min or 30min signal on my Price action signal indicator and will target Friday's low or lower at 147.5. The reason behind this trade is I am expecting a correction to start occuring very very soon both short term and long term if you look at both the RSI and Stochcastic indictaors all the major...

TheFxAce

The YEN cross pairs have been taking some beating this year and likely there may be more to come but llooking across all the pairs and also looking at the yen futures chart there should be a relief rally for the next week before the BOJ policy meeting at the end of the month which I am sure will be closely watched. Today I'm sharing the trade idea on the CADJPY...

TheFxAce

At the end of August I posted the likely path the USDCHF would take next at the beginning of the MONTH it rallied a little bit higher into the weekly supply zone which is standard iit has just achieved the first short term target below 0.96 it actually took out the daily demand zone so can expect a short rally up before heading back down towards the LONG term...