Short'n'longs

I expect the correction in USDJPY pair. I will buy this pair if an offer area will hold on 104.60-104.68. I’m planning to lock-in profit at 104.40-104.10. Stop loss has to be above the signal formation.

Prior to the publication of US GDP data, I consider to sell the Australian dollar. AUDUSD has broken 0.7580 local support. In case of retest I’ll get to short-term sales. I’ll look for the entry point at smaller timeframes. Potential movement - 25-40 points.

Today I look at USDCAD. Currencys trading near the 1.3400 resistance level. A pattern of ascending triangle has formed on H1 timeframe . In case of overcoming and retest of 1.3395 level I plan to buy. Potential movement 1.345-1.3475.

EURUSD. Euro got strong support during Friday trading. I plan to wait for the correction to 1.0930-1.0940 demand zone at the moment. The point of entry - at smaller timeframes. Potential movement - to 1.0990.

USDJPY. It’s time for short trades. I’m going to look for the point of entry after the prices will overcome and fix below the 104,850 support level. Potential movement - to 104.40-104.25. Stop can be located slightly above the signal formation. I consider to take profit with the use of trailing stop.

I look for long on Pound today and hope there will be continuation of correction on GBPUSD
In case of breakdown and retest of 1.2245 resistance level, we should buy. I’ll look for the confirmation and the entry point at smaller timeframes. Potential movement - to 1.2275-1.2300.

Long trade is also an idea for Kiwi (NZDUSD) today. I consider buying after break and test of today's high (0.7173). Potential movement to the local resistance - 0.7200. The transaction will be short-term and speculative. Stop loss may be set slightly below the signal formation

Yen has significantly adjusted over the past few trading sessions. I continue to watch USDJPY at short. At the moment, the currency broke 103,650 local support. In case of retention of this level and confirmation appearing at smaller timeframes (Price Action patterns on M15) I plan to sell. Potential movement - to 103.00.

USDCAD. Technical picture on H1 timeframe indicates development of corrective movement in the nearest future. I highlighted 1.3360 support level. If there will be breakdown and retest of this level and additional confirmation signals appear on the lower timeframes, I’ll sell. Profit-taking will take place at 1.3335-1.3300 levels.

I look for long on GBPUSD. British currency has risen significantly against the US dollar over the past few trading sessions. The pair overcame and fixed above 1.2300 resistance level. It’s testing the 1.2350 resistance level at the moment. I’m going to buy after breakdown and retest of this level. Potential movement - to 1.2375-1.2390.

An interesting situation formed on AUDUSD. The currency is testing 0.7675-0.7680 demand zone at the moment. If it holds and additional evidence at the smaller timeframes will appear, I’ll sell. Profit-taking might be at 0.7650 level.

The most important economic data on the US economy Non-farm payrolls will be released today. I won’t open transactions today. So, I’ll just watch the market, the key support/resistance levels and see how currency pairs react to them. I’ll continue trading on Monday. Wish you all high profits

EURUSD
support - 1.1060
resistance - 1.1120

GBPUSD
support - 1.2420
resistance - 1.2480

The presidential elections in the US will tale place tomorrow. The market should be highly volatile. There are quite sharp and impulsive movements. I recommend to reduce the risks. It’s not the right time to open medium-term positions. I plan to work within key levels intraday.

If EURUSD consolidates below the 1.1065 support level, I’ll make short-term sales. Potential movement - to 1.1030-1.1020.

USDJPY. Yen is trading at 104.40-104.55 offer zone at the moment. I plan to look for entry points at the exit and retest zone. If quotes will rise above 104.55, I plan to buy. Potential movement – to 104.90.

If the price consolidates below 104.40, I’ll think of short to 104.05.

Finally, presidential elections in the US will take place today! The attention of investors and financial market participants is drawn to the event. Current polls indicate the victory of Hillary Clinton. I don’t expect publication of critical statistical data and adhere to conservative trade. So, I won’t open any transactions today. As for me, it’s better to wait for the election results.

So… We can see Trump’s victory. The representative of the Republican Party got 276 votes against 218 that Clinton got. We should expect increased volatility in financial markets in the nearest future. Most likely that US dollar continues to lose ground against a basket currency basis. I plan to trade intraday with minimal risks.

I identified the following levels on EURUSD:
Support- 1.1065
Resistance 1.1140

I consider buying after the break and retest of 1.1140 resistance level. Potential movement - to 1.1275.

I identified the following levels on USDJPY:
Support - 102.00
Resistance - 103.35

I plan to sell in case of reaching the 103.35-103.70 zone. I’ll look for confirmations at the smaller timeframes. Potential movement - to 102.50.

There is still uncertainty and high volatility on the markets due to Trump’s win. I’ll continue to trade intra-day with minimal risk from the key support and resistance levels by the end of this week .

I plan to buy GBPUSD after break and retest of the 1.2450 level. Stop loss can be set slightly below the signal formation. Potential movement - to 1.2480.

I look for shorts on USDCAD today. I’ll open transactions after the break and fixing lower than current low (1.3385). Potential movement – to 1.3355.

EURUSD is testing local resistance (1.0905) at the moment. I plan to open short in case of retention of the level and appearing of some additional signals at smaller timeframes. The transaction will be short-term and speculative. The potential for local support is 1.0870.