AnalysForexForex technical analysis & trade ideas - EUR GBP AUD CAD NZD

Forex technical analysis & trade ideas – EUR GBP AUD CAD NZD

EURUSD retests strong support at 1.0975/55 but over ran a little to 1.0940 for the second day before the bounce. I guess I should lower this support to 1.0965/45 today – Longs need stops below 1.0930. A break lower targets 1.8080/70. 

Longs can target 1.0990/1.1010 (a high for the day exactly here yesterday in the sideways consolidation). If we continue higher – certainly possible in the sideways consolidation, look for 1.1045/50 for profit taking on any remaining longs. 

Selling at resistance at 1.1080/1.1100 has worked a few times so we can keep trying until we see a breakout. Shorts at 1.1080/1.1100 need stops above 1.1105. A break higher this time is a buy signal & resumes the 7 month bull trend. Try to buy in to a long & hold it with stops below 1.1065. 

Keep trading these 2 levels until we breakout of the 100 pip range.
USDCAD stuck in a 6 month, 300 pip range from 1.3320/1.3300 up to 1.3630/50. Shorts at 1.3630/50 certainly worked last week. 

We retested the lower end of the range at 1.3320/1.3300 & longs worked on the bounce as far as 1.3400. (Yesterday we dipped but held 13 pips above the level). If we eventually continue higher look for the next target of 1.3440/50. 

Longs here again today need stops below 1.3260. A break lower should be a significant sell signal. 

EURCAD double top sell signal certainly worked & I hope we fall a little further to test my buying opportunity at 1.4600/1.4580. Longs need stops below 1.4560. 

Targets for longs: 1.4670, 1.4700, 1.4750 

EURNZD has unexpectedly crashed again wiping out around 30% of the 1 year rally in just 8 days. Wish I had seen that coming but looking back at the charts I cannot see any warning. 

In the last 10 days we only have 1 green candle with lots of large red bodied candles. Hate to miss an opportunity like this but there was not warning that I can see.  

GBPUSD a low for the day at support at 1.2605/1.2585 & longs are starting to work – we need a stop below 1.2565.  

We look for a bounce to 1.2668 with a break above here acting as the next buy signal to target 1.2710. 

AUDCAD volatile from hour to hour but not going in any direction, just trapped in ranges –  Shorts at resistance at 9080/9090 worked perfectly again yesterday – shorts need stops above 9120. A break higher can target resistance at 9175/85. 

Keep scalping that level for a 50-70 pip profit!! 

GBPAUD has held support at 1.8610-00 perfectly for 3 days in a row so the level is certainly working perfectly as we bounce to the 1.8680 target for a quick 70-80 pip profit. 

That’s good enough for me in these horrible sideways ranges we are seeing in most FX pairs.  

Longs need stops below 1.8570. 

Targets: 1.8680, 1.8750 

 

Free mentor session. https://members.daytradeideas.co.uk/free-mentor-session

Get 5 free eBooks & a free mentor session with Jason Sen now: https://members.daytradeideas.co.uk/5questions

Join Telegram https://t.me/daytradeideas

LIVE FOREX SIGNALS ON TELEGRAM PLUS SPREADSHEET OF TRADE IDEAS. 

https://daytradeideas.kartra.com/page/FXsignals 

 

Jason Sen
Jason Sen
12 years on the LIFFE trading floor (from 1987). 15 years market making interest rate & index options. 3 years options market making when trading went digital. 5 years derivatives broking (investment bank clients). 15 years practising technical analysis of financial markets. 12 years providing technical analysis signals to investment banks and retail traders. 10 years trading Forex, gold & index futures (personal account). 20 years of teaching traders.
RELATERADE ARTIKLAR
video
play-rounded-fill

Mest populär