EURUSD almost 100 pip rejection
- #21,684
- Jul 29, 2015 1:58am Jul 29, 2015 1:58am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
US FED will release the statement today, without any press conference and we will probably have some range-bound market till FED statement. Expectations towards rate hike are rising and we could see a rate hike in between September and December. US CPI has come in line with expectations, Core Durable Orders also while major news release for CAD will be GDP later in the week (Friday). However any mention of a possible hike is bullish to USD and traders will pay close attention to FED's statement.
Technically USDCAD has broken through 4h trend line and it is falling towards POC. POC1 (L4, triple bottom, 50.0 fib ) comes at 1.2930 zone and the zone could reject the price. If the retracement continues, next zone to watch for is 1.2865-45 (L5, 61.8 fib) just above strong round number support which makes a confluence with double top/historical breakout point and 78.6. That support is naturally 1.2800. If the pair gains upward momentum after rejection it will target .1.3030 and 1.3100. Only H4 close above 1.3100 will target 1.3150.
However a drop below 1.2800 could extend towards 1.2750 and 1.2700.
Technically USDCAD has broken through 4h trend line and it is falling towards POC. POC1 (L4, triple bottom, 50.0 fib ) comes at 1.2930 zone and the zone could reject the price. If the retracement continues, next zone to watch for is 1.2865-45 (L5, 61.8 fib) just above strong round number support which makes a confluence with double top/historical breakout point and 78.6. That support is naturally 1.2800. If the pair gains upward momentum after rejection it will target .1.3030 and 1.3100. Only H4 close above 1.3100 will target 1.3150.
However a drop below 1.2800 could extend towards 1.2750 and 1.2700.
- #21,689
- Jul 30, 2015 5:40am Jul 30, 2015 5:40am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
AM ACCURATE PP based on LO open
- #21,690
- Jul 30, 2015 6:48am Jul 30, 2015 6:48am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
GBP is gaining upward momentum lifted by preliminary GDP estimates and that could be aditional signal that UK economy is recovering. FED is still undecided about the dates for a rate hike. Latest statement cleared out that FED officials want to see further job market gains before the hike.
1.5570-80 zone shows strong confluence. Pullback towards POC zone (L3,50.0,ascending trend line, inner trendline) could be used for long entries, however keeping in mind that any momentum break or 4H close below 1.5545 could initiate bearish pressure towards 1.5500. General intraday trend is bullish and GBPUSD should target 1.5560 and 1.5710. Adding to a bullish zig zag MACD has just crossed above 0 line and its signalling for a possible bullish momentum.
1.5570-80 zone shows strong confluence. Pullback towards POC zone (L3,50.0,ascending trend line, inner trendline) could be used for long entries, however keeping in mind that any momentum break or 4H close below 1.5545 could initiate bearish pressure towards 1.5500. General intraday trend is bullish and GBPUSD should target 1.5560 and 1.5710. Adding to a bullish zig zag MACD has just crossed above 0 line and its signalling for a possible bullish momentum.
- #21,691
- Jul 31, 2015 3:05am Jul 31, 2015 3:05am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
USDJPY has bounced after FED statement which clearly stated that the rate hike is inevitable after further job gains. We think it could come in September or December, but December seems more likely. According to Reuters poll economic growth in US is picking up pace which goes in accordance with FED's possible tightening monetary policy in September.
USD has shown strength even after bad advance GDP data which is the primary gauge of the economic's health.
Technically USDJPY is showing V shaped reversal variant 2 with a possible rejection from current levels towards 123.40 zone. If rejection happens we could use POC zone at 123.40 ( 78.6, L4, historical buyers ) for a new long trade towards 124.55. 4H close above 124.55 will target 125.05.Judging from current sentiment even lower TFs show a predominant long trend and if we align lower and higher time frames we are getting a good picture of an overall trend.
USD has shown strength even after bad advance GDP data which is the primary gauge of the economic's health.
Technically USDJPY is showing V shaped reversal variant 2 with a possible rejection from current levels towards 123.40 zone. If rejection happens we could use POC zone at 123.40 ( 78.6, L4, historical buyers ) for a new long trade towards 124.55. 4H close above 124.55 will target 125.05.Judging from current sentiment even lower TFs show a predominant long trend and if we align lower and higher time frames we are getting a good picture of an overall trend.
- #21,693
- Jul 31, 2015 11:07am Jul 31, 2015 11:07am
passing by to say tankīs T . your analises is great y reading this forum to learn there are lots o patterns that i never have eard about .
the webbinaries have very good you talk about all kind of stuf .
now a have a trading sytem money manegement system . everything is working ok .
my personality is scalping a canīt fight that , lear on your webbinairs that personality will have lot to do whit strategy .
keep on the good work T
the webbinaries have very good you talk about all kind of stuf .
now a have a trading sytem money manegement system . everything is working ok .
my personality is scalping a canīt fight that , lear on your webbinairs that personality will have lot to do whit strategy .
keep on the good work T
Scalping
- #21,694
- Aug 2, 2015 2:45pm Aug 2, 2015 2:45pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
passing by to say tanks T . your analises is great y reading this forum to learn there are lots o patterns that i never have eard about . the webbinaries have very good you talk about all kind of stuf . now a have a trading sytem money manegement system . everything is working ok . my personality is scalping a cant fight that , lear on your webbinairs that personality will have lot to do whit strategy . keep on the good work T
I am very glad that it help you.
I will be on holiday from 03. AUG- 16.AUG .
See you soon guys!
Cheers!
- #21,697
- Edited 3:13am Aug 17, 2015 3:03am | Edited 3:13am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
- #21,698
- Aug 17, 2015 3:17am Aug 17, 2015 3:17am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Two weeks ago, I have warned that GBPUSD will start to move in a sideways formation and that was to be expected due to low volatility month. Inflation data from UK is due on Tuesday and most important thing BoE is focused at this point is improving labor and inflation data.
Technically we see a rectangle formation on H4 time frame, and there is a host of historical sellers up there. 1.5690-1.5705 ( rectangle top sellers, historical sellers, H3 ) POC could be good for shorts towards 1.5580 and 1.5530. 1.5530-50 region could show some buyers as we can see there are also historical buyers and it is making a confluence with L4 camarilla support. Only a H4 close below 1.5530 could target 1.5455 lower border of rectangle range. This pattern could be invalidated if H4 candle closes above 1.5725.
Technically we see a rectangle formation on H4 time frame, and there is a host of historical sellers up there. 1.5690-1.5705 ( rectangle top sellers, historical sellers, H3 ) POC could be good for shorts towards 1.5580 and 1.5530. 1.5530-50 region could show some buyers as we can see there are also historical buyers and it is making a confluence with L4 camarilla support. Only a H4 close below 1.5530 could target 1.5455 lower border of rectangle range. This pattern could be invalidated if H4 candle closes above 1.5725.
- #21,700
- Aug 17, 2015 4:07am Aug 17, 2015 4:07am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
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