Date: November 2, 2017
EURUSD reversing nicely, remain bearish
Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price has started to reverse nicely from our selling area. We remain bearish below major resistance at 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area, bearish divergence) for a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is dropping nicely with good downside potential. Bearish divergence vs price signals that a reversal is impending.
Date: November 2, 2017
AUDUSD remain bullish with price bouncing nicely above our support
Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7730.
Reason for the trading strategy (technically):
Price is once again bouncing nicely above our support. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% and is bouncing nicely as expected.
Date: November 2, 2017
GBPUSD testing major resistance, prepare to sell
Sell below 1.3319. Stop loss at 1.3427. Take profit at 1.3161.
Reason for the trading strategy (technically):
Price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).
Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signalling that a reversal is in action.
Date: November 2, 2017
NZDUSD bouncing perfectly, remain bullish
Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052.
Reason for the trading strategy (technically):
Price has started to bounce perfectly off our major support level as expected. We remain bullish looking to buy on dips above major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.
Date: November 2, 2017
EURJPY approaching profit target, remain bullish for a further push up
Buy above 132.28. Stop loss at 131.79. Take profit at 133.12.
Reason for the trading strategy (technically):
Price has continued its rise nicely towards our profit target following our cup and handle reversal. We remain bullish looking to buy on dips above major support at 132.28 (Fibonacci retracement, horizontal pullback support, cup and handle support) for a push up to 133.12 resistance (Fibonacci extension, cup and handle potential, Fibonacci retracement).
Stochastic (89,3,1) still has some upside potential before it reaches its major resistance which coincides with our profit target.
Date: November 2, 2017
USDJPY testing major resistance, time to start selling
Sell below 114.23. Stop loss at 114.56. Take profit at 113.46.
Reason for the trading strategy (technically):
Price has continued to rise strongly from yesterday. Today we’re seeing strong resistance at 114.23 (Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective move from this level to push price down to at least 113.46 support (Fibonacci extension, Fibonacci retracement).
Stochastic (34,3,1) is seeing major resistance below 99% where we expect a strong corresponding reaction from.
EURUSD reversing nicely, remain bearish
Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price has started to reverse nicely from our selling area. We remain bearish below major resistance at 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area, bearish divergence) for a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is dropping nicely with good downside potential. Bearish divergence vs price signals that a reversal is impending.
Date: November 2, 2017
AUDUSD remain bullish with price bouncing nicely above our support
Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7730.
Reason for the trading strategy (technically):
Price is once again bouncing nicely above our support. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% and is bouncing nicely as expected.
Date: November 2, 2017
GBPUSD testing major resistance, prepare to sell
Sell below 1.3319. Stop loss at 1.3427. Take profit at 1.3161.
Reason for the trading strategy (technically):
Price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).
Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signalling that a reversal is in action.
Date: November 2, 2017
NZDUSD bouncing perfectly, remain bullish
Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052.
Reason for the trading strategy (technically):
Price has started to bounce perfectly off our major support level as expected. We remain bullish looking to buy on dips above major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.
Date: November 2, 2017
EURJPY approaching profit target, remain bullish for a further push up
Buy above 132.28. Stop loss at 131.79. Take profit at 133.12.
Reason for the trading strategy (technically):
Price has continued its rise nicely towards our profit target following our cup and handle reversal. We remain bullish looking to buy on dips above major support at 132.28 (Fibonacci retracement, horizontal pullback support, cup and handle support) for a push up to 133.12 resistance (Fibonacci extension, cup and handle potential, Fibonacci retracement).
Stochastic (89,3,1) still has some upside potential before it reaches its major resistance which coincides with our profit target.
Date: November 2, 2017
USDJPY testing major resistance, time to start selling
Sell below 114.23. Stop loss at 114.56. Take profit at 113.46.
Reason for the trading strategy (technically):
Price has continued to rise strongly from yesterday. Today we’re seeing strong resistance at 114.23 (Fibonacci extension, horizontal swing high resistance, bearish price action) and we expect to see a corrective move from this level to push price down to at least 113.46 support (Fibonacci extension, Fibonacci retracement).
Stochastic (34,3,1) is seeing major resistance below 99% where we expect a strong corresponding reaction from.
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