EURGBP Approaching Its Reversal, Prepare For A Reversal

Published on: April 20, 2018

EURGBP is approaching its resistance where we look to sell on strength.

Sell below 0.8797. Stop loss at 0.8837. Take profit at 0.8694.

Reason for the trading strategy (technically):
We see price approaching its resistance at 0.8797 (61.8% Fibonacci extension, 100% Fibonacci extension, 50% Fibonacci retracement) where we look to sell on strength. We expect to see a reversal, pushing price down to its support at 0.8694 (61.8% Fibonacci extension, horizontal swing low support).

Stochastic (89, 5, 3) is approaching its resistance at 98% where we expect to see a reversal.

EURAUD Is Testing Its Resistance, Prepare For A Reversal

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EURAUD is testing its resistance where we expect to see a reversal.

Sell below 1.5997. Stop loss 1.6040. Take profit at 1.5923.

Reason for the trading strategy (technically):
EURAUD is testing its resistance area at 1.5997 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect to see a reversal, causing price to drop to its support at 1.5923 (61.8% Fibonacci extension, 50% Fibonacci retracement).

Stochastic (89, 5, 3) is approaching its resistance at 95% where we expect to see a corresponding reversal.

GBPUSD Is Testing Its Support, Prepare For A Bounce

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GBPUSD is testing its support where we expect to see a bounce.

Buy above 1.4060. Stop loss at 1.3991. Take profit at 1.4233.

Reason for the trading strategy (technically):
GBPUSD is approaching testing its support area at 1.4060 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support, ascending support line) where we expect to see a bounce, pushing price up all the way to its resistance at 1.4233 (50% Fibonacci retracement, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.4147 (23.6% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching support at 1.07% where we expect to see a corresponding bounce.

USDCAD Broke Out of Its Descending Resistance, Remain Bullish

Published on: April 19, 2018

USDCAD broke out of its descending resistance line where we expect to see a further rise.

Buy above 1.2627. Stop loss at 1.2527. Take profit at 1.2829.

Reason for the trading strategy (technically):
Price is testing its support at 1.2627 (76.4% Fibonacci retracement, horizontal overlap support) where we expect it to rise to its resistance at 1.2829 (76.4% Fibonacci retracement, 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). We do have to be cautious of the intermediate resistance at 1.2730 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizonal pullback resistance).

RSI (89) shows a bullish breakout as well as a bullish divergence with price which contributes to our bullish bias.

USDJPY Is Being Held Up By Ascending Support Line, Remain Bullish

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USDJPY is being held up by its ascending support line where we expect prices to rise further.

Buy above 107.367. Stop loss at 107.134. Take profit at 107.764.

Reason for the trading strategy (technically):
USDJPY tested its ascending support line where it is rising strongly. We look to buy on weakness at 107.367 (horizontal overlap support) where we expect prises to rise to its resistance at 107.764 (61.8% Fibonacci extension, horizontal swing high resistance).

Stochastic (89, 5, 3) bounced off its intermediate resistance at 20.5% where it still has a lot of upside potential.

NZDUSD IS Approaching Its Support, Prepare For A Bounce

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NZDUSD is approaching its support where we expect to see a bounce.

Buy above 0.7302. Stop loss at 0.7274. Take profit at 0.7395.

Reason for the trading strategy (technically):
NZDUSD is approaching its support at 0.7302 (100% Fibonacci extension x2, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement) where we expect to see a bounce, causing price to rise to its resistance at 0.7395 (61.8% Fibonacci extension, horizontal swing high resistance). However, we do need to be cautious about the intermediate resistance at 0.7338 (38.2% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) is approaching its support at 2.66% where we expect to see a corresponding reaction.

USDCHF In A Bullish Channel, Remain Bullish

Published on: April 18, 2018

USDCHF is hovering in its bullish channel where we look to buy on weakness as we remain bullish.

Buy above 0.9608. Stop loss at 0.9570. Take profit at 0.9712.

Reason for the trading strategy (technically):

USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap resistance).

RSI (55) is being held up be a corresponding ascending support line which contributes to our bullish bias.

AUDUSD Made A Bullish Exit From Its Descending Resistance Line, Remain Bullish

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AUDUSD broke out of its descending resistance line, we expect to see a further rise.

Buy above 0.7746. Stop loss at 0.7708. Take profit at 0.7845.

Reason for the trading strategy (technically):

AUDUSD broke out of its descending resistance line where we look to buy on weakness at 0.7746 (38.2% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 0.7845 (76.4% Fibonacci retracement, 100% Fibonacci extension).

RSI (89) shows a corresponding break out where we expect to see a similar drop.

AUDJPY Broke Out Of Its Ascending Support, Remain Bearish

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AUDJPY made a bearish breakout of its ascending support line where we expect to see a further drop.

Sell below 83.311. Stop loss at 83.659. Take profit at 82.652.

Reason for the trading strategy (technically):

AUDJPY broke out of its ascending support where we look to sell on strength at 83.311 (23.6% Fibonacci retracement, horizontal overlap resistance). We expect prices to push down all the way to its support at 82.652.

RSI (89) shows a corresponding break out where we expect to see a similar drop.

EURUSD Is Approaching Its Resistance, Prepare For A Drop

Published on: April 17, 2018

EURUSD is approaching its resistance, we expect to see a drop.

Sell below 1.2421. Stop loss at 1.2453. Take profit at 1.2345.

Reason for the trading strategy (technically):
Price is approaching its resistance at 1.2421 (78.6% Fibonacci retracement, horizontal swing high resistance) where we expect price to reverse, pushing it all the way down to its support at 1.2345 (horizontal overlap support). We do have to be cautious of the intermediate resistance at 1.2387 (horizontal overlap resistance) where price could react off it and fall to the support from there.

Stochastic (55, 5, 3) is approaching its resistance at 95% where we expect a corresponding reaction.