fxstraderomi

fxstraderomi

Pound suffering following a bearish head and shoulder breakdown

fxstraderomi

breach of trendline resistance could send pair higher to leg D of Cypher

fxstraderomi

When I look at oil prices at $50.00/barrel, I doubt USD/CAD could drop to Leg D of the Cypher pattern. ...

fxstraderomi

Nifty advanced today in line with positive global cues and also marked its third gap up opening of the current rally from February lows. For me, a third gap up opening is usually a sign of reversal in a sense that "dumb money" has entered into markets. This view would gain further credence if the index fails to take out/sustain above inverse head and shoulder...

fxstraderomi

We could see sub 1.10 levels soon, courtesy of leg D of Cypher pattern amid bearish daily RSI. Note - prices were stuck between 1.1236-1.1196 (on day end closing basis for last three trading sessions). The bearish break today also adds credence to my view that pair is moving towards leg D level below 1.10 levels.

fxstraderomi

This is a possible set up in nifty. Longs could be executed as long as the rising trend line support isn't breached.

fxstraderomi

Sell below 1.4368 with stops above 1.4390 and for downside target of 1.4330-1.43

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Nice rebound from a larger rising trend line..with daily RSI at 60.00 pointing upwards. Long as long as support at 66.7+ is intact for target of 67.50 with stops below 66.50

fxstraderomi

Euro’s bullish break from falling channel would see it test confluence of resistance at 1.12 (falling trend line level on hourly + rising trend line on daily + psychological figure). positive rsi divergence noted on hourly chart indicates increased odds of the pair testing 1.12 handle. If accepted above the same, bulls could target another strong hurdle around...

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Formation - Expanding falling channel Outlook - Cautiously bullish Sterling's sharp fall left it oversold as per 15-min RSI, with the indicator forming bullish divergence pattern with price chart in the NY session. The subsequent attempts to recover losses have failed around 1.4220, still the intraday support of 1.4190 (daily low) is being defended. Thus odds...

fxstraderomi

The impulsive decline seen in early Europe has been recovered, thus marking another failure to sustain below 125.00, thus extending the ongoing squeeze between 125.0 handle and falling channel resistance. A daily close back inside the channel would invalidate arguments to remain on the sell side, thus leading to short unwind resulting in the cross cutting through...

fxstraderomi

Kiwi is beginning the week on a weaker tone after failing to capitalize on a bullish break from flag pattern on friday, which translated into a bearish closing at 0.6785. Fonterra is expected to report strong results when it releases its half-year results on Wednesday, but China’s debt concerns may keep the currency under pressure. Nevertheless, a break above...

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For more mavericktraderblog.wordpress.com moving on here is how I prefer to take a trade in EUR/USD pair. First of all I would like to stay out of the pair now and would consider fresh trade tomorrow at London opening depending on what the trend lines tell me. Take a note of the following – Rising channel (a) – resistance at 1.1517 & support at...

fxstraderomi

Sterling found bids around 5-dMA and rose to 1.4284 in the NY session. The bird is now just a few pips shy of the falling trend line R @ 1.4305-1.4310. BOE's take on Brexit issue tomorrow is likely to be accompanied bu dovish comments. Sterling's failure to take out 1.4310 could trigger a fall to 1.4165. If penetrated, it would shift risk in favor of a drop...

fxstraderomi

Pair is flirting with falling trend line, which is also the inverted head and shoulder formation Take not that an inverted head and shoulder breakout has failed twice, but there is hope as long as the rising trend line support at 156.40 is not breached. Heading into the weekend, there also a possibility of profit taking in short Sterling positions....

fxstraderomi

GBP/JPY - 163.50 Sterling's recovery from the daily lows indicates the recovery triggered by bullish Price RSI divergence on the daily chart is likely to continue. Buy on break above the resistance at 163.88 as the cross could extend gains to 164.53-165.00 levels by NY close. Support: 163, 162.69 Resistance: 163.88, 164.53, 165.00 Trade Buy @163.90-163.95...

fxstraderomi

Sell EUr/USD for a target of 1.0928-1.0890. 4-hour chart shows head and shoulder formation

fxstraderomi

Sell EUR/USD for a target of 1.0928 - 1.0890.