alex.ofx

alex.ofx

Hi traders, EURUSD view here. Price has recently broke the red tredline (trendlline dating from early of the year) Looks like it is going for a retest of the trendline. I am looking for a short to 1.08-1.09.. will look for sell entry near the 100MA + 0.382/0.5 fib retracement level. Risk is defined, lets see how this plays out. All the best and trade safe...

alex.ofx Updated 

Hi Traders, Early this week i posted a AUDUSD short setup, we didn't win on that one as the bulls were in control. Coming end of the week/month, AUD FINALLY FINALLY broke to the downside of the trendline. I will short it and SL at the nearest high at 0.772 Looking for this to go below .74xx-0.75xx in the coming weeks. Very slow pair at the moment but i think we...

alex.ofx

Hi Traders, Like my EURGBP post, GBPUSD is now at the 50% retracement from current swing highs. If it breaks above the 50% on the Daily candle, i expect a good amount of reversal to the 1.32xx area. (Quote from a old futures trader: "if the move reverse more then 50%...more then likely it will continue futher) Favouring more of the UP side for this trade but we...

alex.ofx

Hi traders, EURGBP looks interesting! Pass 2 trades on the commodity didn't go as plan, we took a small loss. Now we look at GBP pairs. Will the bulls be able to push to a new high? Or is this going to break and give us some good pips? I personally favor price to retrace to the 0.618 to short it down hard! Thats my PERSONAL preference. GBPUSD pair is also at a...

alex.ofx Updated 

Hi traders, Another potential trade for the commodity currency this week. Ive been following AUDUSD for the past week and im suprised by the strenght of it. And i expect a really big drop from the highs. Lots of selling (and distribution stage) on the highs around 0.768-0.77. This week i will look for the AUD against most of the majors. From the chart i expect...

alex.ofx Updated 

Hi traders, NZDUSD seems like a good sell right now with the berish momentum. I am looking for a small pull back to the .618 retracement and then head back down. Excellent risk reward for this. Fundimentals for banks have a berish bias for NZD for the coming week as well so im considering this a good trade and am watching closely. ENTRY: 0.7280 SL: 0.7310...

alex.ofx

Hi Traders, Back from a long break. AUDUSD seems good to enter soon! Price right now going towards the daily pivot. Im looking to sell on the break of the rising trendline targeting the nearest low. AUD has been soft this week and i expect it to continue. Good R:R ratio. ENTRY: 0.7490 SL: 0.75137 TP: 0.74443 All the best and trade safe guys. Please give this...

alex.ofx

Hi guys, Hope you all have a great weekend, last friday was crazy for me! With USD strength (supposedly) I believe NZDUSD will trade higher this week. It is the best bet compared to the other EUR or GBP pairs. Technically, price bounced off the long term up trendline quite nicely and even after the USD news last week, it didnt break down, showing its strength. I...

alex.ofx

Hi traders, Have been looking at this pair for awhile now. Looks like its ready to pop upwards. Price showing a wedge/flag and has broke out of the channel. Im waiting for a little more retracement but if it breaks the higher high, i will enter as well. You may want to place a buy limit order just above the high to catch the move from the horizontal...

alex.ofx Updated 

Hi Traders, GBPJPY looks good for a short term long trade. Price is consolidation for a few hours now and is forming a textbook triangle formation. YEN is predicted to be berish this week by analyst with addsto the fundamentals to this trade! I will look to buy just above the break of the triangle for about 70 pips target and and 20 pip stop loss. If it breaks...

alex.ofx Updated 

Hi traders, Hope you guys are having a great weekend so far. I'm back analysing some charts good for this week. Currently looking at USDCAD. Price finally took a turn after 9 days of falling. PLUS we have a bullish engulfing candle on the daily chart. That being said, i look for this pair to go higher after some retracements. I may be a tough one as USD seems to...

alex.ofx Updated 

Hi Traders, EURAUD has been bullish for the last week, i personally closed it out too early before its fullest potential. Price showing a Double Top, and i expect price to go to the .618 retracement level before i enter long. Very good fundimentals on this as well. ENTRY: 1.46977 SL: 1.45698 TP: 1.5000 All the best and trade safe guys. Please give this idea a...

alex.ofx Updated 

Hi traders, AUDUSD have been trending for a while now. And seems like its time for a U-turn for a big drop. Many wicks to the upside showing buying power has slowed. Now we are waiting for sellers to come in and push this pair down. I would sell if it breaks the short term support, aiming for about 100+ pips. All the best and trade safe guys. Please give this...

alex.ofx Updated 

Hi traders, Been awhile since ive posted a chart here. Hope you all are doing well. USDJPY long idea. target will be the top of the long term trend channel. Double bottom spotted with good fundimentals supporting this trade. All the best and good luck guys!

alex.ofx

Hi traders, EURJPY 4H chart shows that its time for a reversal. Good fundimentals on the EUR with YEN showing weekness for the coming week. Price has been around the strong support for 2-3 days and it is highly probable to this this pair ending higher this week. R:R is good as well. Stops below the lowest support will invalidate this trade. Similar to USDJPY,...

alex.ofx

Hi guys, EURUSD looks like its forming a wedge pattern, this week price has been trading +/- 50pips a day. I am looking to go long at the break of the wedge. Looks very possible, and targeting the 1.17 area in the coming weeks. Or else, wait for a full completion of the wedge/ further correction, for a buy entry. Thank you all!

alex.ofx

Hi guys, Here we are looking at the AUDUSD Daily LINE chart. Using a line chart we can see clearly the RSI divergence i plan to talk about today, and it gives us good confirmation that price should be heading down. Price is making a higher high, but RSI is making lower lows. A simple berish divergence in price. Sencondly, price as touch the trend channel and a...

alex.ofx

Hi guys, Had a good start this week. This pair looks really juicy to me now. Price broke the long term trendline, and retested it as planned.. on the side note, price is also in a down trend channel. We can see some consolidation NOW as im typing this, i will look to short it around the 1245 or 1240 level. Very good R:R. lets see how this plays out! Good risk...