EUR/AUD - Trend Continuation (Short) on Radar

EUR/AUD - Trend Continuation (Short) on Radar

Hi Traders

Today when I was looking at the charts I found a potential opportunity which may rise in a week or so as I showed expected move with blue arrow. We are seeing that Euro is getting weaker & Aussie dollar is getting strong against US dollar so consequently they may start a downtrend in their pair.

What I am looking is a downward break of 1.4450 level to go in the old range & then retest of this level. If its turns out as I am expecting then it will be a second cycle & would give us good opportunity to go short.

EUR/JPY - Trend Continuation Short

EUR/JPY - Trend Continuation -Short

Hi Trader

I am pleased that one of our trade from my last post (USD/CHF) is going in right direction & we will lock few pips profit tonight which will give us  some relief & put us in win win situation.

Here is another one on EUR/JPY - Trend Continuation (Short). As you can see that its making a beautiful downward channel, its hitting the top (resistance level). I am sure that its going to be a high test bar tonight.  US "Core Retail Sales" report came better than expected which gave strength to dollar & knocked down Euro.

Euro started a down-trend in 4 hour chart while USD/JPY is moving sideways in 4 hour & hourly but it started coming down in lower time frame. This scenario gives us enough confidence in addition to a nice channel on EUR/JPY.

Its seems a high probable trade which is scoring 8 out of 9 following points.

1. Lower Lows & Lower Highs

2. Finding resistance off 50 EMA

3. Horizontal Resistance                          (Soft level SR level 130.30)

4. RSI Convergence

5. Bearish Price Action                            (High Test Bar)

6. No Major level of Support in the way

7. Fib Resistance                                      (0.618)

8. Trend Line Resistance

Unfortunately today's bar size is about 138 pips so the prop traders on half a percent risk won't be able to take this trade. 

My Short List

My Short List

EUR/USD - Trend Continuation Long

USD/JPY & EUR/JPY- Trend Continuation Short

USD/CHF - Range Based Reversal Long

EUR/CAD - Trend Continuation Long

Hi Traders

First of all accept my apologies for being away from this blog due to holidays & some other business. Here is my short list which I am looking at in these days.

EUR/USD - Trend Continuation (Long)

Finally its seems that euro came out from 1.32 - 1.33 range & now I am expecting to have a pull back on 1.33 level to go long.

USD/JPY & EUR/JPY - Trend Continuation (Short)

Both pairs started channeling nicely in a predictable short term downtrend. Phase 1 is completing today so we have to wait for a pullback up to the top of the channel, to go short.

Last cycle setup on USD/JPY was excellent but price action didn't form a reversal bar to allow us to go short. I hope this time any of this pair can give us something worthwhile

USD/CHF - Range Based Reversal (Long)

This pair is hitting its floor. RSI developing a divergence while price action is extending to touch/fall in the FIB Extension level of 1.272.

EUR/CAD - Trend Continuation (Long)

This pair broke 1.38 level today & taken out the 24th June high. Just like euro I am expecting a pull back on this level to go long.

EUR/JPY Trend Continuation

EUR/JPY Trend continuation is scoring following 7 points

1. Higher Highs & Higher Lows
2. Above 50 & 200 EMA
3. Horizontal Support                         (131.15)
4. RSI Convergence
5. Bullish Price Action                        (Doji Bar & Inside Bar)
6. No Level of Resistance in the way.
7. FIB Retracement support               (0.382 - 0.50)

AUDUSD - Range Based Reversal

Daily

Weekly

Monthly

Hi Traders

AUDUSD setting up to go long in Range Based Reversal set up & scoring following points.

1. Strong Level of Support (1.0154)

2. RSI Divergence              (there is strong divergence on Stochastic & Momentum as well)

3. FIB Extension Level       (Between 1.27 - 1.618)

4. Bullish price action          (Inside bar & low test bar too)

5. Flat Moving Averages.