EURJPY 4HR PROJECTIONWe can also see EURJPY in a bullish move .This is a good opportunity to buy at current price and have good R:R of 1:2.5 and may be even more after the price retest at above Support level.
Forextrading
USDJPY 4HR Analysis "SHORT" Hello Traders,My current analysis on this trade is really a good risk reward ratio 1:3 .As per last week analysis the price is currently sitting at a key support level and did not push further down.There a lot of buyers in the market currently which gives us a good opportunity to enter buy side at 107.41.Hopefully we close this trade on positive side.Please feel free to comment ask questions.
USD/JPNHello traders, here is the analysis from our team :
We like this area to be taken out then re bought.
Let us know in the comment section below if you have any questions.😉
GBPJPY - BULLS ONAfter completion of the Head and Shoulder pattern, the counter GBPJPY is experiencing a double bottom. A Double bottom is a strong chart pattern for a bullish trend. Today the counter broke out the peak price (136.00) of the double bottom and started moving upwards therefore long is more preferable for this counter.
EURGBP PREFERS LONGThe counter EURGBP looks to be forming a head and shoulder pattern between ranges of 0.9000 and 0.8878. We see the neck support of 0.8878 holding strong the third time today. We look to buy at ranges of 0.8878 and 0.8900, maintaining stops below the neck line of 0.8878 and testing to reach 0.8980 to 0.9000. We recommend this move only for a short term or for just an intra-day trade.
As the head and shoulder pattern looks to be clear, we expect the neck line of 0.8880 as a strong support. Once this support breaks, we expect the counter to have an aggressive fall. In case of the neck break, go for shorts maintaining stops above 0.8890 to 0.9000 levels. The markets can try to hit lower levels of 0.8690 to 0.8670.
GBPUSD - PREFER LONGS.The counter GBPUSD was travelling in the resistance trend line from 30th April which has been tested at the price twice at the prices 1.2467 and 1.2297. On 19th May the bearish trend came to an end by breaking in the resistance trend line at the price 1.2258.
Now the current trend is bullish and the counter is travelling in the ascending channel. We prefer going buys in GBPUSD maintaining stops below the channel’s support line. The break of R1 @ 1.2479 might push the counter further up to R2 @ 1.26435.
As the market moves in a channel pattern, expect choppy trades rather than aggressive moves.
On the fundamental side, we look out for the Consumer confidence coming up this Friday to have an impact in the counter.
HAPPY TRADING
USDSGD multi frame analysis. Possible upmove.Hello Trader, Here is the full analysis of USDSGD :
1) On the 4hr chart we can see it as formed Cypher pattern and possible reversal expected.
2) Price is in a strong support zone and can test this zone for up move and if it respects this zone one can expect up move in the stock .
3) If it breaks the support then wait for the next retracement downside to take short position.
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CADCHF WITH EITHER SIDE BREAKOUT There is a possibility of breakout on either side on CADCHF D1 chart, be ready for both the possibilities to gain a minimum of 100 pips, most probably it’s going to break downside, but we always suggest to trade with breakouts, and exit the trade when the heiken ashi candle turns to the opposite color, no need of TP, just keep trafi long your SL
AUDNZD FORMING ASCENDING CHANNEL PATTERNWe can see an Ascending Channel Pattern being formed on AUDNZD Chart, Seems to be a possible breakout , Only trade after a Breakout of support and take profits of around 500 pips easily
USDJPY weekly technical analysis, May 25-29 USD against Japan yen pair, looks in control of sellers this week..108.00 has stays as a strong resistance zone for long time.. it may retest the area of 106.750 and reverse up at the final stage of the week.
XAUUSD / Gold vs Dollar pair Technical analysis, May 25-29Anticipation over XAUUSD reach of 1800 have been exceeding among the traders, Its proved that a Resistance area is there around 1750, in spite of last week break out till 1760. Fails to go up and again retested 1716 last week.
Reversal bar in Weekly chart shows gold may retest down area around 1710.. close to the weekend and Month end Gold starts the journey of 1800..or even in the mid of the week
Note - Just a tentative analysis, subjected to the changes in the market
AUD WITH ASSCENDING WEDGE PATTERN FORMATIONWe can see a clear ASSCENDING WEDGE PATTERN FORMATION on AUDCHF Currency Pair In D1 Chart which may result in breakout either side, our prediction is that it might break downside itself because it has just now retested a heavy resistance 3 times which can even be considered as a TRIPPLE TOP FORMATION, But take your trades based on breakouts and enjoy with a minimum of 250 pips either side
ALL THE BEST TRADERS
EUR/NZD broke the ranging level on 1HR!!EUR/NZD was ranging & now has broke the range level creating a big green candle & a new zone. Keep an eye on this zone, its fresh and if the price comes again to this zone to test, there is a probability it would shoot up!
This is only for educational purposes & I aint any financial advisor. Control your risk, its very important, always use a stop loss.
XAUUSD, Gold against Dollar , Technical analysis May 11 to 15This pair, last 2 weeks its been moving inside the box , after May started its expected to go up but in contrast, gold against dollar pair is moving sideways.. after the strong bullish move from 1483 on March mid to 1747 on April Mid. and it clearly get itself into a accumulation zone.
I am not surprised if this moves in the similar way for the coming few weeks...Thanks
GOLD FUTURE FOREX GOLD FUTURE HAS BEEN SHAPED UP HEAD & SHOULDER PATTER ITS NECK LINE HAS BEEN BROOKED WE CAN TAKE SHORT SELL.
ENTRY PRICE 1730.10 TO 1725
STOP LOSS 1740
TARGET 1700
