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EURUSD right on major resistance, time to sellSell below 1.1425. Stop loss at 1.1450. Take profit at 1.1369. Reason for the trading strategy (technically): We look to sell below major resistance at 1.1425 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) for a push down to at least 1.1369 support (Fibonacci retracement, horizontal pullback support, Elliott wave theory). Stochastic (34,5,3) is seeing major resistance below 96% where we expect a drop from. Traders Dynamic Index is making a bearish crossover signalling that a reversal is in motion and we can expect a drop from here. Correlation analysis: EURUSD and USDCHF are strongly negatively correlated. Hence it is good that we expect a bounce on USDCHF and a drop on EURUSD as this shows that they are moving in tandem.
Short
by MEX_Exchange
USDCAD bouncing nicely, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price has bounced off nicely from our buying area yesterday. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (89,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
AUDJPY dropping perfectly towards profit target, remain bearishSell below 84.70. Stop loss at 85.71. Take profit at 83.90. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish below 84.70 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 83.90 support (Fibonacci retracement, horizontal pullback support). Stochastic (89,5,3) is seeing strong resistance below 90% where we expect a further drop from.
Short
by MEX_Exchange
USDCAD testing major support, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price continues to drop strongly and seems to have turned a corner recently. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
AUDJPY profit target reached perfectly, prepare to buy again forBuy above 82.94. Stop loss at 82.54. Take profit at 83.66. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly from yesterday. We remain bullish looking to buy above 82.94 major support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, ascending support line) for a push up to at least 83.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is also seeing strong ascending support holding price up really well.
Long
by MEX_Exchange
USDCAD profit target reached perfectly again, prepare to buyBuy above 1.3288. Stop loss at 1.3251. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target on USDCAD once again for the third time in a row. We prepare to buy above 1.3288 support (Fibonacci retracement, Fibonacci extension, Elliott wave theory) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is testing out 39% support and we expect a bounce soon.
Long
by MEX_Exchange
USDCAD profit target reached perfectly, remain bearish Sell below 1.3485. Stop loss at 1.3551. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We prepare to sell further below 1.3485 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 1.3387 support (Fibonacci extension, horizontal swing low support). RSI (34) is holding really well below our 55% resistance and has good downside potential for our drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 83.48. Stop loss at 83.93. Take profit at 82.80. Reason for the trading strategy (technically): We prepare to sell on major resistance at 83.48 (Fibonacci retracement, Fibonacci extension) and expect a strong reaction from that level to drive price down to at least 82.80 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below the 91% level where we expect a further drop from. Correlation analysis: Overall JPY strength is expected today with drops on AUDJPY and USDJPY. Furthermore, we expect AUD weakness with a drop on AUDUSD expected too.
Short
by MEX_Exchange
USDJPY Get down you dirty dog! #bitchbetterhavemymoneySo USDJPY has been grinding down the price levels for some time now, here is a simple profitable set up for a further short scenario. Take a Short from here and hold. 101 is my personal target profit take and I suggest if you follow that you do the same. My stop is set at 106.600 Time duration of the trade I would expect to be no longer than two weeks at most. Good luck if you take it on. Let me know with some feedback and banter.
Short
by RSCexclusive