Hello fellow traders, I am back after vacation. Here I am with a perfect setup forming on daily chart and weekly chart of AUDUSD as well. My charts are self explanatory. In this chart as you can see that AUDUSD has broken weekly trend and now the fall may be deep. Here I am looking for a target on the downside till .6827 but we can have some problems near .7151 levels.
On daily chart the price has already closed below trendline support.
If we sell here at the time of posting this the price is .7470 with a stop above .7580 and target .6830 we have a risk to reward ratio which compells to take this trade but since chart is weekly so one has to wait long time for targets to be achieved and there is support near .7151 levels. So one may keep .7151 as first target and .6827 as the second target.
A bearish flash formation in progress in XAUUSD. Break of flag is 1307 but real confirmation is break of 1302. Break of 1302 will open a way for 1285. STRATEGY Sell XAUUSD below 1307 with a stop loss of 1315 and target of 1285.
Drop me an email if you have any further questions. In comments you may tell me what you think about this setup.
I am back with the very favourite technical analysis for you. The pair we are talking about today is GBPUSD. The pair broke multi week high of 1.7041 and is trading about 50 pips above it as current price while writing this article is 1.71052. I strongly feel that those who had bought the pair earlier will book profits here and the pair will move higher than the high of today that is 1.71137 only after a pullback towards 1.7050.
As the stochastics and RSI indicate overbought conditions on 4 H timeframe, our preference is to wait for a pullback and see a candle closing above 8 period exponential moving average on 1H time frame. Best price will be buying near 1.7050. Keep stop loss below 1.69500. And aim for 1.72350 on the higher side.
Do not risk more than 5% of your capital on a single trade. Happy Trading. Email me for any querries about technical analysis.
Sell USDCAD on monday with stop loss at 1.0342 and target 1.0250.
On daily chart there is a doji followed by a inverted hammer and both are black indicating reversal of uptrend and the continuation of downtrend.
At first target 1.0250 and if closes on daily basis below 1.0265 then we can see 1.0200 on tuesday.
As we can see that USDJPY successfully broken out of the triangle and retested the falling trendline and found support near 98.50 area.
Here we can buy the pair with stop loss of 98.50 and target of 100.54
For taking a safe side buy the pair above 99.36 when it clears this short term falling trendline.
please comment. I am dying to see any comments in my blog. :-)
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Euro seems to be weak this week and i am expecting to see the level of 1.3120 and 1.3100 if euro trades for one hour below 1.3170.
On the other hand if it breaks on the upside above 1.3257 then 1.3300 is the immediate target and we may also see 1.3281 and 1.3303.
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