The fx pair USD/CAD is in a downtrend move. We have a strong resistance at 1.42266, the price tried to retest the R1 and bounced back , thus we go short at 1.41915.
Δευτέρα 25 Ιανουαρίου 2016
Technical ANalysis EUR/USD
Price continue to move lower and remaining below 60 SMA on the 1 and 4 hour Time Frames. Pin Bar reversal showing on 30min TF. Negative news this morning on the EURO, German Ifo Business Climate came out below expectation adding selling Pressure.
Technical Analysis USD/JPY
When the very strong support of 118,40 is broken, then we go Short at this level SL 118,75 and TP 117,90
Technical Analysis EUR/AUD
The Pair is currently rebalancing from the last move up, start trading below main support at 1.56500. There is a good opportunity to short the pair at 1.55829. There is a bat pattern completion into a supply zone.
Technical Analysis USD/CAD
With the support of 1.4175 broken on Friday we are looking for shorts in this pair. Eventually we are looking for a minimum retrace all the way down to 1.3700 levels but first support will come in around the 1.4000 level next. Should this not hold we are looking for a full 50% retrace to the 1.3830 minimum. We are still counter-trend trading in a major uptrend so use smaller position sizes. With last Fridays Bearish Engulfing pattern on the Daily timeframe and SSI (Speculative Sentiment Index) has changed drastically as Retail traders have cut Long positions it only seems fitting that the usdcad is in a corrective phase before a return to the highs and the end of the Bull usdcad market as we know it. A confluence at the 23% resistance level comes in at 1.4250. Go short at suggested levels looking for a target around the 1.3850 / 1.3750 level. Alternatively go short on a break of 1.4150 for an initial target of 1.4040 with tight stops.
Technical Analysis GBP/JPY
- At Pivot, price consolidated and recover. Go Long at this level. SL at 168.30. TP at R2.
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