Get started

Forex market

Sell Swing Trading Strategy for CADJPY [4h]The 4-hour CADJPY chart shows a downward trend with the current price hovering around the strong support level near 108.08, below the 33-week EMA. This presents an opportunity to implement a sell (short) strategy based on technical analysis. 1. Technical Analysis Overview: Trend: CADJPY is in a correction phase after hitting a short-term peak around 110 in early October. Recent price action shows resistance near the 33-week EMA (around 108.2 - 108.5), suggesting that the price may continue to decline further. 33-week EMA: This indicator reflects the long-term trend. The current price is below the EMA, confirming the potential for the downtrend to continue. Volume: Trading volume has been relatively steady but is decreasing as the price approaches support levels, indicating that selling pressure might still be present. 2. Sell Strategy: Entry Point: Enter a sell position around 108.2 or just below the 33-week EMA. This is a strong dynamic resistance zone, and the price may bounce slightly before continuing the downtrend. Stop Loss: Set a stop loss above 109.2, where there is short-term resistance and beyond the EMA line. If the price breaks above this level, the downtrend might be invalidated. Take Profit: Short-term target: Set the target at 106.5, which corresponds to the key support level from late September. Long-term target: If the price breaks below 106.5, extend the target to 105.5, a level where the price had previously rebounded strongly. 3. Timeframe Estimation: Estimated time to execute the strategy: This strategy could play out over 1-2 weeks, depending on market volatility. If the price breaks the 106.5 support quickly, the strategy may conclude sooner. Market conditions: If the price moves slowly, the strategy may extend by a few extra days until the take-profit level is reached. --- Practice this strategy with Exness now! You can get $10,000 in virtual money to trade risk-free. Sign up today at Exness. Thanks!
Short
by ngohungsky941
USDJPY SHOWING A GOOD DOWN MOVE WITH 1:8 RISK REWARD USDJPY SHOWING A GOOD DOWN MOVE WITH 1:8 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
Short
by tradergyan01
Swing Trading Strategy for NZDCAD (4-Hour Chart)Based on the NZDCAD 4-hour chart that you provided, the following analysis and swing trading strategy can be established: Chart Analysis: Main Trend: The price showed a downward trend from late August to late September, forming a bottom around the 0.8220 region. Afterward, the price has rebounded, creating higher highs and higher lows, indicating a temporary uptrend forming. The 33-week EMA is currently below the price, which signals short-term bullish momentum. Support and Resistance Levels: Support: Strong support around the 0.8220 - 0.8240 zone, as this is the recent bottom. Resistance: Current resistance near 0.8541, close to the recent peak in September. Trend Line and EMA: The price is bouncing off the 33-week EMA and approaching the strong resistance level near 0.8400. This suggests that if the price breaks this resistance, the bullish trend could continue. Swing Trading Strategy: Buy on a Break of 0.8400 Resistance: When the price breaks above the 0.8400 resistance level with increasing volume, this is a potential buy signal. Entry Point: Open a buy position when the price closes a 4-hour candle above 0.8400. Stop Loss: Place a stop loss below the nearest support level, around 0.8300, as this is a key price level that could hold in case of a short-term pullback. Take Profit: The profit target can be set around the 0.8540 level, which corresponds to the key resistance zone. If the price reaches this resistance and trading volume weakens, you might consider taking full or partial profits to lock in gains. Strategy Summary #NZDCAD: Buy: When the price breaks above 0.8400. Stop Loss: Set below 0.8300. Take Profit: Around the 0.8540 resistance level. Given the volatility in the forex market, continuous monitoring and adjusting the strategy are essential. Ready to start trading and learning? Get $10,000 in virtual money and learn how to trade with a market-leading broker. Sign up for an Exness account today using this link: Web in Profile of me! Thank!
Long
by ngohungsky941
2
DOUBLE TOP EUR/AUDThe double top is a classic bearish reversal pattern. Picture it like this: the price peaks, falls back, peaks again at about the same level, and then declines. This pattern signals that the upward trend is likely over and a downtrend might be on the way. Key aspects to look for: Two Peaks: Price hits a high, drops, and then hits a similar high. Support Level: The low point between the peaks forms a support level. A break below this level confirms the pattern. Volume: Higher volume on the second peak and a decline confirms the bearish sentiment.
Short
by Faizgazi
EURNZD SHOWING HEAD AND SHOULDER PATTERN WITH 1:5 RISK REWARD EURNZD SHOWING A GOOD DOWN MOVE WITH 1:5 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
Short
by tradergyan01
1
USD/JPY: Bullish Momentum Remains StrongHello everyone! Today, let’s analyze the USD/JPY currency pair together! Market sentiment has shifted negatively toward the Japanese Yen, causing the currency to weaken against the US Dollar. Japan’s weak export data has raised concerns about the country’s economic outlook, while internal government disagreements over monetary policy have only added to the uncertainty. In contrast, the US Dollar remains favored due to expectations that the Fed will maintain its tight monetary policy, attracting investment flows and pushing USD/JPY higher. Looking at the technical chart, the 34 and 89 EMAs are steadily trending upwards, with no signs of a reversal. The support level at 149.368 is serving as a springboard for further upward momentum in this pair. When the price encounters resistance at 149.766, it may test this level, and if an opportunity arises, it could break through and aim for a higher target. In my opinion, USD/JPY is likely to continue its upward trend in the short term. However, investors should be cautious about the risk of a correction as the RSI is currently in the overbought zone. What do you all think about this pair?
by Alisa_Rokosz
USDJPY: Bulls run out of steam, focus on US Retail Sales, 150.00USDJPY is stuck in a tight weekly trading range near the 200-day Exponential Moving Average (EMA), hovering between 149.30 and 150.00, as traders are on the lookout for the US Retail Sales report coming Thursday. Buyers need a strong boost to keep the reins In addition to the nervousness ahead of the data release and the 200-day EMA, the fading bullish momentum in the MACD and a steady RSI near overbought levels show that USDJPY is struggling to attract buyers. However, trading above key EMAs makes it tough for sellers to gain control. While bulls are likely to stay in charge, a pullback seems expected unless the upcoming data gives the US Dollar a lift. Key technical levels to watch If the US Dollar falls after the data, watch for the 149.30 level comprising the lower band of the immediate trading range and the 200-day EMA as key support. Following that, a quick drop to the 147.30-20 zone, including the 50-day EMA, is possible. However, the quote’s sustained weakness past 147.20 will make it vulnerable to slump toward the 23.6% Fibonacci Retracement of its July-September downside, close to 144.85. On the upside, buyers need to break above 150.00 to maintain control. If they do, a rise towards the 50% and 61.8% Fibonacci levels at approximately 150.80 and 153.50 is likely. Buyers are still optimistic, but it all hinges on the US data Despite challenges for USDJPY buyers, solid support levels and potentially positive US data hint at further gains. This is especially true with the Bank of Japan's easing hawkish stance and expectations for fewer rate cuts from the US Federal Reserve.
by MTradingGlobal
2
EUR/USD Under Downward Pressure from ECB DecisionHow is the EUR/USD pair fluctuating today? Let’s find out together! The EUR/USD pair remains steady at 1.0884 after four consecutive sessions of decline. However, selling pressure on the Euro persists, especially as the market is heavily pricing in the likelihood of the European Central Bank implementing monetary easing policies. From a technical analysis perspective, the pair is in a downward trend, with the EMA line continuing to move lower steadily. Resistance at 1.0949 has prevented any upward movement, forcing the pair to retreat towards its previous support at 1.0883. This is my take. What do you think about the EUR/USD pair today?
by Alisa_Rokosz