EURNZD is setting up for a possible bearish move down to any of the 3 targets listed below. Although this pair has been in a beautiful uptrend over the past 5 months, it will end sooner or later. RSI has been flashing some negative divergence for 3 months, that alone is not enough to act upon. We will be waiting to see a daily close below the lower uptrend line...
The USDCAD has flashed a technical confluence around the median of the short-term pitchfork, the 78.6% Fib level and the lower line of the longer-term pitchfork. If this low holds we could see this pair rally to 1.33800 which is the median line of the long-term pitchfork with the next target of 1.35300 which is the secondary line of the long-term pitchfork. We...
AUDNZD is forming a solid triangle pattern on the hourly chart. If you back out and look at the daily chart you find this pair is in a long-term uptrend which will favor a move out of this triangle pattern to the upside. We will be looking for a close above the upper trendline before initiating our position. Targets will be 1.13700 and the figure of 1.14000. ...
We didn't post this trade as we viewed it as too much risk, consequently we took a small position. AUDCAD is in the process of forming point 4 of a primary wave. We were expecting this pair to trade down to the 61.8% Fibonacci level completing point 4 of 5 but it gave us a premature close followed by a strong candle bounce. Liking the action but not liking the...
After a series of bullish breakouts, the GBPUSD closed the week with the creation of an inside bar. If currency price action closes “inside” of the reference candles high and low, traders may begin looking for a breakout at the start of next week’s trading. Resistance is market with Thursday high at 1.5476, and a breakout above this value would be considered a...
EURGBP is forming a nice falling wedge pattern on the 4 hour. This should lead to a breakout to the upside and continue it's short-term trend higher. We will be waiting for a close above the top trendline, assuming we get that close we will then initiate our long position. Targets will be 0.7400, 0.74500 and 0.75000. A close below the lower trendline will make...
As of 09/10/2015 at 9:00 EST We have identified a possible Long trade in EURAUD. As you can see this pair is forming a triangle pattern on the 4 hour timeframe. With the long-term trend on the daily being to the upside we will be looking to trade this pair with that in mind. Although we won't be afraid to take a short position, current trends tell us to lean...
GBPUSD is forming a nice triangle on the 30 min chart. With a close above the top trendline and our algorithm confirming a run higher we will be taking a long position. If this pair closes below the lower trendline of the triangle the signal will be null and void.
We are looking for the USDCAD to continue it's recent uptrend. On the 4 hour chart it's forming a nice triangle pattern, we would like to see a close above this triangle before initiating our long position. Targets will be the figure of 1.34000, 1.34500 and the figure of 1.35000. Our stop will be placed with a break of the lower trendline of this triangle. If...
GBPUSD has been in a downtrend over the past few days and clearly the hourly chart is following suit. As you can see there have been three corrective moves over the course of this downtrend. Each of these three corrective moves spanned 51 - 102 Pips. When corrective moves are limited to less than 20% of the total move it is showing that sellers are in control. ...
As of 09/01/2015 at 13:55 EST: We have identified a possible Short trade in EURUSD. We will be watching EURUSD for a breakout of this Triangle pattern to the downside. This is an emerging pattern with high probability. Wait for a close on the 30 minute chart below the lower trendline of this triangle pattern before initiating a position. Targets of 1.11500 -...
As of 08/31/2015 at 19:00 EST: We have identified a possible Short trade in EURGBP. We will be watching EURGBP for a breakout of this Flag pattern to the downside. This is an emerging pattern with high probability. Wait for a close on the 30 minute chart below the lower trendline of this flag pattern before initiating a position. Targets of 0.72400 - 0.72500...
This short-term uptrend in USDCHF is in the process of consolidating near it's highs of the past couple of days. We have seen two corrective pullbacks of 17% and one of 16% within this uptrend which has spanned 280 Pips. We will be looking for a pullback of approximately 17% or approximately 50 Pips from the consolidation zone before initiating a Long position. ...
We picked off GBPCAD with a nice short within it's overall trend on the 15 minute chart, that is if you can call 15 minutes a true trend. It's the only reason we did not announce, we don't believe a true trend develops on a 15 minute chart. The basis of the trade was that this pair is in a downtrend of approximately 680 Pips over the past 200 bars. Within this...
As of 08/27/2015 at 13:15 we have recognized a possible short trade in USD/JPY on the 1H chart. It is forming a rising wedge pattern with a high probability trade if it can get triggered. We will be waiting for a close below the lower trendline of this rising wedge before initiating a position. Targets will be 119.750, 119.500 and the figure of 119.000. If...
As of 08/26/2015 at 21:30 EST: We have identified a possible Long trade in EURUSD. We will be watching EURUSD for a breakout of this Flag pattern to the upside. This is an emerging pattern with high probability. Wait for a close on the 60 minute chart above the upper trendline of this flag pattern before initiating a position. Targets of 1.15200, 1.15600 and...
As of 08/25/2015 at 16:20 EST: Unique Forex has identified a possible Short trade in USDCHF. We will be watching USDCHF for a breakout of this Rising Wedge to the downside. This is an emerging pattern with high probability. Wait for a close on the 30 minute chart below the lower trendline of this rising wedge pattern before initiating a position. Targets of...
As of 08/25/2015 at 12:35 EST: The Global Currency Scalper has identified a possible Long trade on CADCHF. We will be watching CADCHF for a breakout of this Triangle to the Downside. This is an emerging pattern with high probability. Wait for a close on the 30 minute chart below the lower trendline of this triangle pattern before initiating a position. ...