forexTrdr

forexTrdr Updated 

Morning traders, Looking at the setup on Euro versus Japanese Yen which after breaking below support at 123.5 area, and more importantly holding below as per our trading view chart, the pair is opening up a retest of year to date low at 118 area. The break below 123.5 area leaves very little in the way of near term support providing a great risk reward setup...

forexTrdr

Good morning traders, Clean setup on US dollar versus Swiss Franc with strong resistance levels keeping this pair in check and forcing it lower towards 100. Our trading view chart has highlighted the key support and resistance levels at play for this pair. We tested resistance levels again around 1.008 to 1.01 last week before pulling back and we are now looking...

forexTrdr Updated 

Afternoon traders, British Pound breaking below support levels highlighted on our chart versus Aussie Dollar just as we head into a weekend of results on European Elections and the likely demise of May who many political commentators are suggesting will be out by Monday. Meanwhile pro Brexit Boris Johnson is gathering support among MPs which the market will take...

forexTrdr Updated 

Morning traders, Back into the market after a long weekend in both U.K. and U.S. and we are looking at the continued downtrend of Euro versus US dollar. A series of lower highs continues to form with support around 1.11 area providing a short opportunity of 90 pips. We also have the formation of an Evening star candle or tweezer top if looking on longer time...

forexTrdr Updated 

Afternoon traders, Looking to enter a short trade on New Zealand Dollar versus US dollar after the pair have failed on numerous occasions to breach resistance just under 1.06. Add to this that the pair is extremely overbought on stochastic and the price patterns pointing to a move lower as per out trading view charts. Clean simple trade with a the ability to...

forexTrdr Updated 

Afternoon traders, We hope you are enjoying the long bank holiday weekend with both UK and US markets closed on Monday we would expect a slow start to the trading week with Monday being somewhat non-existent in terms of volumes and volatility. For this weeks SundaySetups we have taken a look at Gold versus US dollar. On our trading view 4 hourly chart you can...

forexTrdr

Morning traders For those of you trading crypto its worth noting that Bitcoin versus US dollar has formed a bearish engulfing on the daily and is forming consecutive lower highs on lower volumes pointing to a break lower. Its no surprise to see that it is in over bought levels on both RSI and stochastic but coupled with collapsing volumes at these resistance...

forexTrdr

Morning traders, Looking at Euro versus New Zealand dollar which is flagging up as extremely overbought on daily stochastics and RSI after moving another 50 pips higher overnight. On our trading view chart we have drilled down to 4 hourly candles to highlight the pair is hitting resistance levels dating back to January which had already been tested at the start...

forexTrdr Updated 

Morning traders, After a positive surprise for the market on Australian elections as Conservatives keep power via coalition and the polling companies have yet another shocker after predicting in the last 50 polls that Labour would come to power. This mild positive and the oversold nature of AUD led to a large short squeeze with AUD trading up 70 pips from...

forexTrdr Updated 

Morning traders, Looking at Euro versus Japanese Yen and stochastic divergence forming to suggest we are looking at a move lower withing the channel then a break out higher over the coming trading sessions. As per our trading view chart we have higher highs forming on stochastic with lower highs on pricing. When this occurs it tends to point to a breakout higher...

forexTrdr

Afternoon traders, Looking at Aussie dollar versus Canadian dollar as it trades around support levels from early March whilst matching up with extreme oversold levels on both RSI and stochastics. Additionally the move lower appears to be running out stream here both on volume and on price action with the pair sticking in a 30pip range for the past 24 hours....

forexTrdr

Morning traders, Yesterday we caught the gold long from 1285 up to 1297 before taking profits and we are now looking to switch the trade to play it from a short side with both RSI and stochastics overbought and at levels where we have seen a pull back. Additionally the pair is at resistance level around 1300 which we have highlighted on our trading view chart...

forexTrdr Updated 

Morning traders, We have a British pound versus US dollar trade setup ahead of UK GDP at 9:30 (BST) where consensus is pointing to 1.8%. Should we see a beat then we would be looking for British pound to trade to mid 1.31 area before pulling back lower within the descending channel we have highlighted in our trading view chart. The GDP data lines up with...

forexTrdr Updated 

Morning traders, Looking at British pound versus Aussie dollar here where we see the right shoulder forming on a potential head and shoulder pattern which points to British pound dropping lower in value versus Aussie dollar. On our trading view chart we have highlighted the break higher yesterday and overnight failed to breach a prior high of 1.8669 in late...

forexTrdr Updated 

Morning traders, We have been watching US dollar versus Swiss Franc for sometime and even been burned on a prior short as the pair has continued to trade deeper and deeper into overbought territory over the past couple of weeks. But the market appears to be finally turning lower with the past 5 days trading sideways to lower as volumes have dried up and the...

forexTrdr Updated 

Morning traders, Lovely technical set up in Aussie Dollar versus US dollar after the recent strength in US Dollar taking this pair to the bottom of its recent 70 to 72 range including what looks like a false breakout yesterday down to 0.6988. Looking to enter a long at the market following a combination of technicals adding to support. Firstly we saw two back...

forexTrdr Updated 

Good morning traders, Looking at gold versus US dolllar here after the weekend news of Trump looking to escalate trade tensions with China, completely against what the business media had been suggesting last week of a deal being finalised this week. Fake news it appears! Needless to say markets were risk off and gold has spiked back up to resistance levels around...

forexTrdr

Morning traders, Looking at Great British Pound versus US dollar which has come up to resistance levels around 1.31 as highlighted in our trading view chart. This idea comes from a combination of price action and technicals. On our chart we have RSI and bollingers both forming bullish trendlines to match price action of higher lows since late April. We also...