☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · July 12, 2017, 2:56am

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MEX_Exchange · July 12, 2017, 3:06am

Date: July 11, 2017

USDJPY reacting nicely off our selling area, remain bearish

Sell below 114.32. Stop loss at 115.09. Take profit at 111.77.
Reason for the trading strategy (technically):
Price has rose and reacted off our selling area as expected. We remain bearish below major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction from this level to push price down to at least 111.77 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below 95% and we expect a drop from this level soon. We can also see bearish divergence vs price signalling that a reversal is fast impending.

AUDJPY approaching major resistance, remain bearish

Sell below 86.97. Stop loss at 87.70. Take profit at 85.74.
Reason for the trading strategy (technically):
Price has slowly crept up towards our selling area and we expect to see a drop on it soon. We remain bearish looking to sell below 86.97 resistance (Fibonacci extension, horizontal swing high resistance, Elliott wave theory) for a drop down towards 85.74 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing strong resistance below 98% and we expect a drop below this level.

AUDUSD bouncing up nicely from support, remain bullish

Buy above 0.7577. Stop loss at 0.7556. Take profit at 0.7642.
Reason for the trading strategy (technically):
Price has started to bounce up nicely from our buying level. We remain bullish looking to buy above 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) for a bounce up to at least 0.7642 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing a nice bounce above 4% with good upside potential. A recent bullish divergence also signals that a strong bounce is impending. We can also see intermediate support above 35% which is holding stochastic up quite nicely.

GBPUSD approaching major support, prepare to buy

Buy above 1.2817. Stop loss at 1.2741. Take profit at 1.3029.
Reason for the trading strategy (technically):
Price is approaching major support at 1.2817 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we expect to see a nice bounce above this level to push price towards 1.3029 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing support above 4.8% where we expect a bounce from.

USDCHF profit target reached again, prepare to sell

Sell below 0.9679. Stop loss at 0.9701. Take profit at 0.9630.
Reason for the trading strategy (technically):
Price has continued its rise perfectly as expected and has reached our profit target again for the 3rd time in a row. We prepare to sell below 0.9679 resistance (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) for a drop towards 0.9630 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a drop from.
Correlation analysis: EURUSD and USDCHF are strongly negatively correlated. Hence it is good that we expect a drop on USDCHF and a bounce on EURUSD as this shows that they are moving in tandem.

EURUSD prepare to buy for a push up

Buy above 1.1379. Stop loss at 1.1355. Take profit at 1.1447.
Reason for the trading strategy (technically):
Price has dropped nicely towards our profit target. We prepare to buy above 1.1379 support (Fibonacci retracement, horizontal overlap support, Elliott wave theory) for a bounce up towards 1.1447 resistance (Fibonacci extension, horizontal swing high resistance, Elliott wave theory).
Stochastic (34,5,3) is seeing strong support above 2.7% where we expect a bounce from.
Correlation analysis: EURUSD and USDCHF are strongly negatively correlated. Hence it is good that we expect a drop on USDCHF and a bounce on EURUSD as this shows that they are moving in tandem.

MEX_Exchange · July 12, 2017, 3:14am

Date: July 12, 2017

USDJPY dropping nicely as expected, remain bearish

Sell below 114.32. Stop loss at 115.09. Take profit at 111.77.
Reason for the trading strategy (technically):
Price has started to drop really nicely from our selling area as expected. We remain bearish below major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction from this level to push price down to at least 111.77 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is seeing major resistance below 95% and has made a bearish triangle exit. We can also see bearish divergence vs price signalling that a reversal is fast impending.

AUDJPY testing major resistance, remain bearish

Sell below 86.97. Stop loss at 87.71. Take profit at 85.74.
Reason for the trading strategy (technically):
Price has slowly crept up towards our selling area and we expect to see a drop on it soon. We remain bearish looking to sell below 86.97 resistance (Fibonacci extension, horizontal swing high resistance, Elliott wave theory, bearish divergence) for a drop down towards 85.74 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing strong resistance below 98% and we expect a drop below this level. We can also see bearish divergence has been formed vs price which signals that a drop is impending.

AUDUSD profit target reached perfectly, prepare to sell

Sell below 0.7644. Stop loss at 0.7686. Take profit at 0.7577.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target absolutely perfectly. We prepare to sell below 0.7644 resistance (Fibonacci retracement, horizontal pullback resistance, Elliott wave theory) for a drop to at least 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is fast approaching resistance at 97% where we expect a drop from.
Traders Dynamic Index is forming a bearish signal as a sign that we’re seeing a drop soon.

NZDUSD prepare to sell on resistance

Sell below 0.7250. Stop loss at 0.7282. Take profit at 0.7182.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7250 (Fibonacci retracement, horizontal pull back resistance, Fibonacci extension) and we expect to see a strong reaction from this level for another drop to at least 0.7182 support (Fibonacci extension, horizontal swing low support).
RSI (34) is seeing long term descending resistance holding price down really well. We long as RSI remains below this descending line, we will maintain our bearish bias.

nzdusd.png1806×797 71.6 KB

USDCHF profit target reached again, prepare to buy on dips

Buy above 0.9598. Stop loss at 0.9568. Take profit at 0.9652.
Reason for the trading strategy (technically):
Price has dropped from our selling area perfectly and reached our profit target for the 4th time in a row. We prepare to buy on major support at 0.9598 (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.9652 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is seeing strong support above 3.48% where we expect a nice bounce from.

EURUSD profit target reached perfectly, remain bullish for a further push up

Buy above 1.1445. Stop loss at 1.1425. Take profit at 1.1514.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target absolutely perfectly. We remain bullish looking to buy on dips above 1.1445 (Fibonacci retracement, horizontal pullback support) for a further push up to at least 1.1514 resistance (Fibonacci extension, Elliott wave theory).
RSI (34) is seeing long term descending resistance-turned-support hold price up really well in the bullish breakout we’re seeing.

MEX_Exchange · July 13, 2017, 8:51am

Date: July 13, 2017

USDJPY dropping nicely, remain bearish for a further drop

Sell below 114.32. Stop loss at 115.09. Take profit at 111.77.
Reason for the trading strategy (technically):
Price has started to drop really nicely from our selling area as expected, we do see a lot more downside potential in this move though. Our goal is to remain bearish looking to sell on rallies below major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance, bearish divergence) so that we can get into good positions to play the push down to at least 111.77 support (Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance below 95% and has made a bearish triangle exit. We can see that it has good downside potential to play the drop further before reaching any significant support.

AUDJPY continues to test major resistance, remain bearish

Sell below 86.97. Stop loss at 87.71. Take profit at 85.74.
Reason for the trading strategy (technically):
Price has been testing our selling area for quite a while and remains at that level. We remain bearish looking to sell below 86.97 resistance (Fibonacci extension, horizontal swing high resistance, Elliott wave theory, bearish divergence) for a drop down towards 85.74 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing strong resistance below 98% and we expect a drop below this level. We can also see bearish divergence has been formed vs price which signals that a drop is impending.

AUDUSD testing major resistance, remain bearish for a drop from here

Sell below 0.7683. Stop loss at 0.7700. Take profit at 0.7625.
Reason for the trading strategy (technically):
Price is now testing major resistance at 0.7683 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and we expect to see a reaction off this level to push price down to at least 0.7625 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing strong resistance below 97% where we expect a drop from soon.

NZDUSD prepare to buy for a push up

Buy above 0.7246. Stop loss at 0.7220. Take profit at 0.7289.
Reason for the trading strategy (technically):
Price is testing major support at 0.7246 (Fibonacci retracement, horizontal overlap support, bullish price action) and we expect to see a bounce above this level for a rise to at least 0.7289 resistance (Fibonacci retracement, Fibonacci extension, horizontal resistance).
RSI (34) has made a bullish exit of its long term descending resistance-turned-support line signalling that a change in momentum has started to occur.

USDCHF profit target reached once again, prepare to sell

Sell below 0.9652. Stop loss at 0.9677. Take profit at 0.9598.
Reason for the trading strategy (technically):
Price has dropped to our buying level yesterday before shooting up and reaching our profit target for the 5th time in a row. We prepare to sell bel
ow 0.9652 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 0.9598 support (Fibonacci extension, horizontal overlap support, Fibonacci extension) once again.
Stochastic (55,5,3) is seeing strong resistance below 93% where we expect a strong reaction from.

EURUSD prepare to sell on strength for a further drop

Sell below 1.1444. Stop loss at 1.1470. Take profit at 1.1381.
Reason for the trading strategy (technically):
Price has dropped sharply from yesterday. We prepare to sell below 1.1444 resistance (Fibonacci retracement, horizontal pullback resistance, Elliott wave theory) to play the further push down to at least 1.1381 support (Fibonacci extension, horizontal swing low support, Fibonacci extension).
Stochastic (55,5,3) still has some good downside potential to at least 4.6% for price to play the drop to.

MEX_Exchange · July 14, 2017, 3:58am

Date: July 14, 2017

USDJPY dropping nicely, remain bearish for a further drop

Sell below 114.32. Stop loss at 115.09. Take profit at 111.77.
Reason for the trading strategy (technically):
Yesterday price has continued to drop but is starting to see its bearish momentum slowed down, we do see a lot more downside potential in this move though. Our goal is to remain bearish looking to sell on rallies below major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance, bearish divergence) so that we can get into good positions to play the push down to at least 111.77 support (Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance below 95% and has made a bearish triangle exit. We can see that it has good downside potential to play the drop further before reaching any significant support.

GBPUSD bouncing perfectly from our buying area, remain bullish whilst protecting our profits

Buy above 1.2898. Stop loss at 1.2804. Take profit at 1.3029.
Reason for the trading strategy (technically):
Price has bounced off our buying area at 1.2810 perfectly previously. We remain bullish looking to buy above 1.2898 support (Fibonacci retracement, horizontal overlap support) looking to play a further rise up to 1.3029 resistance (Fibonacci extension, horizontal swing high resistance). We protect our profits by shifting our stop loss to 1.2804.
Stochastic (34,5,3) is seeing strong support above 6.2% and also has good upside potential for us to play before it reaches any significant resistance.

AUDUSD right on major resistance, prepare to sell

Sell below 0.7750. Stop loss at 0.7774. Take profit at 0.7708.
Reason for the trading strategy (technically):
Price is fast approaching major resistance at 0.7750 (Fibonacci extension, major swing high resistance) and we expect a reaction off this level to see a drop to at least 0.7708 support (Fibonacci retracement, horizontal pullback support). A break of this level would open a much bigger bearish move.
Stochastic (34,5,3) is seeing major resistance below 95% and we expect it to drop correspondingly with price soon.

NZDUSD profit target reached, prepare to sell

Sell below 0.7345. Stop loss at 0.7372. Take profit at 0.7289.
Reason for the trading strategy (technically):
Price has risen and reached our profit target perfectly from yesterday. We prepare to sell below major resistance at 0.7345 (Fibonacci extension, bearish price action, horizontal swing high resistance) for a drop to at least 0.7289 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 95% where we expect a corresponding drop from along with price.

USDCHF now testing major resistance, prepare to sell

Sell below 0.9687. Stop loss at 0.9741. Take profit at 0.9602.
Reason for the trading strategy (technically):
Price shot up yesterday and is now testing major resistance. We prepare to sell below major resistance at 0.9687 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.9602 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a further drop from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a bounce on EURUSD and a corresponding drop in USDCHF.

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EURUSD profit target reached, prepare to buy for a bounce

Buy above 1.1381. Stop loss at 1.1353. Take profit at 1.1444.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target from yesterday. We prepare to buy above major support at 1.1381 (Fibonacci retracement, horizontal swing low support, bullish price action) for a push up to at least 1.1444 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing intermediate support at 19% where we expect a bounce from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a bounce on EURUSD and a corresponding drop in USDCHF.

MEX_Exchange · July 17, 2017, 1:50am

Date: July 17, 2017

USDJPY profit target almost reached, prepare to buy above major support

Buy above 111.90. Stop loss at 110.88. Take profit at 114.32.
Reason for the trading strategy (technically):
Last week price has continued its drop perfectly towards our profit target. We prepare to buy above major support at 111.90 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.

AUDJPY approaching major resistance, prepare to sell

Sell below 88.26. Stop loss at 88.68. Take profit at 87.27.
Reason for the trading strategy (technically):
Price is approaching major resistance at 88.26 (Fibonacci extension, Elliott wave theory) and we expect to see a reaction off this level for a drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) has been testing out 98% resistance for quite some time and we expect a drop on it soon.
Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.

AUDUSD testing major resistance, prepare to sell

Sell below 0.7833. Stop loss at 0.7862. Take profit at 0.7769.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7833 (2 years high, Fibonacci extension) and we expect a reaction off this level to at least 0.7769 support (Fibonacci retracement, Elliott wave theory). We would require price to break this level first before we can confirm any further drop.
Stochastic (34,5,3) is testing 96% resistance and we expect it to drop soon along with price.

NZDUSD expecting one last push up

Buy above 0.7326. Stop loss at 0.7296. Take profit at 0.7398.
Reason for the trading strategy (technically):
Price has formed a new Elliott structure leading us to believe that we should be seeing one last push up before a drop. The goal is to buy above 0.7326 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7398 resistance (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing support above 50% where we expect it to hold price up as long as it remains above this level.

USDCHF dropped perfectly towards profit target, prepare to buy for a bounce

Buy above 0.9606. Stop loss at 0.9591. Take profit at 0.9569.
Reason for the trading strategy (technically):
Price dropped absolutely perfectly from our selling area last week and is fast approaching our profit target. We prepare to buy above major support at 0.9606 (Multiple Fibonacci extensions, horizontal swing low support) for a push up to at least 0.9659 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 6% where we expect a bounce soon to happen.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

EURUSD profit target reached perfectly, prepare to sell

Sell below 1.1485. Stop loss at 1.1511. Take profit at 1.1419.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below 1.1485 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1419 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is testing major resistance at 97% signalling that a reversal is fast approaching.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

MEX_Exchange · July 18, 2017, 1:22am

Date: July 18, 2017

USDJPY approaching major support, prepare to buy

Buy above 111.90. Stop loss at 110.88. Take profit at 114.32.
Reason for the trading strategy (technically):
We remain bullish preparing to buy above major support at 111.90 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.

AUDJPY dropping perfectly as expected, remain bullish for a further drop

Sell below 88.26. Stop loss at 88.68. Take profit at 87.27.
Reason for the trading strategy (technically):
Price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) has started dropping from our 98% resistance nicely.
Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.

AUDUSD dropping perfectly as expected, remain bearish for a further drop

Sell below 0.7802. Stop loss at 0.7843. Take profit at 0.7741.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area as expected and is fast approaching our profit target. We remain bearish looking to sell below 0.7802 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to at least 0.7741 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is dropping nicely from our 96% resistance as expected.
Correlation analysis: AUD weakness is expected today with AUDJPY similarly testing major resistance and expecting a drop.

NZDUSD approaching strong support, prepare to buy

Buy above 0.7244. Stop loss at 0.7213. Take profit at 0.7299.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7244 (Fibonacci retracement, horizontal overlap support) and we expect a bounce above this level to at least 0.7299 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is approaching strong support above 3% where we expect a bounce to occur

USDCHF bouncing perfectly as expected, remain bullish for a further rise

Buy above 0.9606. Stop loss at 0.9591. Take profit at 0.9569.
Reason for the trading strategy (technically):
Price has reached our profit target from Friday and has started to bounce off nicely from our buying area yesterday as expected. We remain bullish looking to buy on dips above major support at 0.9606 (Multiple Fibonacci extensions, horizontal swing low support) for a push up to at least 0.9659 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 6% which should hold our bullish move.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

EURUSD right on resistance, remain bearish

Sell below 1.1485. Stop loss at 1.1511. Take profit at 1.1419.
Reason for the trading strategy (technically):
We remain bearish looking to sell below 1.1485 resistance (Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1419 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is testing major resistance at 97% signalling that a reversal is fast approaching.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

MEX_Exchange · July 19, 2017, 1:54am

Date: July 19, 2017

USDJPY finally bouncing off support, time to start buying

Buy above 111.77. Stop loss at 110.88. Take profit at 114.32.
Reason for the trading strategy (technically):
Price has finally dropped to our buying level which is major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.

AUDJPY testing strong resistance, remain bearish

Sell below 89.11. Stop loss at 87.52. Take profit at 89.61.
Reason for the trading strategy (technically):
Price is testing major resistance at 89.11 (Fibonacci extension, swing high resistance) and we expect to see a reaction off this level for a drop to at least 87.52 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) has started dropping from our 98% resistance nicely.

GBPUSD approaching major resistance, remain bearish

Sell below 1.3170. Stop loss at 1.3257. Take profit at 1.2820.
Reason for the trading strategy (technically):
Price is approaching major resistance at 1.3170 (Fibonacci extension, long term swing high resistance) and we expect to see a reaction off that level for a drop to at least 1.2820 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 95% and we expect to see a drop from here.

NZDUSD profit target reached, prepare to sell

Sell below 0.7367. Stop loss at 0.7391. Take profit at 0.7300.
Reason for the trading strategy (technically):
Price has bounced up and reached our profit target perfectly. We prepare to sell below major resistance at 0.7367 (Fibonacci extension, horizontal swing high resistance, Elliott wave theory) for a drop from this level towards at least 0.7300 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,5,3) is dropping nicely from our 90% resistance and we expect a further drop from here.

USDCHF testing major support, remain bullish for a corrective bounce

Buy above 0.9527. Stop loss at 0.9500. Take profit at 0.9593.
Reason for the trading strategy (technically):
Price has dropped strongly after making the bearish channel exit. We prepare to buy above strong support at 0.9527 (Fibonacci extension, bullish price action, channel exit potential) for a push up to at least 0.9593 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 3.6% where we expect a further bounce from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

EURUSD testing resistance, remain bearish

Sell below 1.1583. Stop loss at 1.1617. Take profit at 1.1491.
Reason for the trading strategy (technically):
Price has risen a lot since yesterday and is now testing strong resistance at 1.1583 (Fibonacci extension, swing high resistance, bearish price action, bearish divergence) and we expect to see a reaction off this level for a drop to at least 1.1491 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing strong resistance below 97% and also sees bearish divergence vs price signalling that a drop is impending.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.

MEX_Exchange · July 20, 2017, 1:49am

Date: July 20, 2017

USDJPY making a nice bounce, remain bullish

Buy above 111.77. Stop loss at 110.88. Take profit at 114.32.
Reason for the trading strategy (technically):
Price has finally dropped to our buying level which is major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.

AUDJPY continues to test resistance, remain bearish

Sell below 89.11. Stop loss at 87.52. Take profit at 89.61.
Reason for the trading strategy (technically):
Price continues to test major resistance at 89.11 (Fibonacci extension, swing high resistance) and we expect to see a reaction off this level for a drop to at least 87.52 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) continues to test our 98% resistance where we expect a drop from.

GBPUSD approaching major resistance, remain bearish

Sell below 1.3170. Stop loss at 1.3257. Take profit at 1.2820.
Reason for the trading strategy (technically):
Price is approaching major resistance at 1.3170 (Fibonacci extension, long term swing high resistance) and we expect to see a reaction off that level for a drop to at least 1.2820 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 95% and we expect to see a drop from here.

NZDUSD dropping nicely from our selling area, remain bearish

Sell below 0.7367. Stop loss at 0.7391. Take profit at 0.7300.
Reason for the trading strategy (technically):
Price has started to react off our selling area quite nicely. We remain bearish looking to sell below major resistance at 0.7367 (Fibonacci extension, horizontal swing high resistance, Elliott wave theory, Bearish divergence) for a drop from this level towards at least 0.7300 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,5,3) is dropping nicely from our 94% resistance and also displays bearish divergence vs price, signalling that a drop is impending.

USDCHF bouncing perfectly from our buying area, remain bullish

Buy above 0.9527. Stop loss at 0.9500. Take profit at 0.9593.
Reason for the trading strategy (technically):
Price has reached our buying area and bounced off it perfectly. We remain bullish looking to buy above strong support at 0.9527 (Fibonacci extension, bullish price action, channel exit potential) for a push up to at least 0.9593 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 3.6% and has good upside potential for USDCHF’s further rise.

EURUSD dropped perfectly towards profit target, prepare to buy

Buy above 1.1419. Stop loss at 1.1430. Take profit at 1.1583.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and is fast approaching our profit target. We prepare to buy above major support at 1.1491 (Fibonacci retracement, horizontal pullback support) for a push up to at least 1.1583 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 6% where we expect a corresponding bounce from.

MEX_Exchange · July 21, 2017, 1:51am

Date: July 21, 2017

USDJPY right on major support, remain bullish for a bounce from here

Buy above 111.77. Stop loss at 110.88. Take profit at 114.32.
Reason for the trading strategy (technically):
Price continues to test our major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is right above major support at 1.2% which corresponds with the bounce we’re expecting in price.

AUDJPY forming a very strong reversal signal, remain bearish

Sell below 89.11. Stop loss at 87.52. Take profit at 89.61.
Reason for the trading strategy (technically):
Price continues to test major resistance at 89.11 (Fibonacci extension, swing high resistance, bearish divergence) and we expect to see a reaction off this level for a drop to at least 87.52 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) continues to test our 98% resistance where we expect a drop from. We can also see price form bearish divergence vs stochastic signalling that a reversal is fast approaching.

GBPUSD approaching support, prepare to buy for a quick bounce

Buy above 1.2929. Stop loss at 1.3006. Take profit at 1.2897.
Reason for the trading strategy (technically):
Price is approaching strong support at 1.2929 (Fibonacci retracement, Fibonacci extension, horizontal pullback support, bullish divergence) and we expect to see a strong bounce above this level to at least 1.3006 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing strong support above 9.59% where we expect a bounce from and also displays bullish divergence vs price signalling that a bounce is impending.

NZDUSD testing resistance, prepare to sell for a corrective drop

Sell below 0.7413. Stop loss at 0.7437. Take profit at 0.7334.
Reason for the trading strategy (technically):
Price has risen strongly yesterday. We prepare to sell below 0.7413 resistance (Fibonacci extension, Elliott wave theory, bearish price action) for a push down to at least 0.7334 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is reversing nicely from our 94% resistance with good downside potential to play the drop.

USDCHF profit target reached perfectly, prepare to buy again

Buy above 0.9500. Stop loss at 0.9478. Take profit at 0.9570.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target before dropping strongly to another strong support level. We prepare to buy above 0.9500 support (big figure, Fibonacci extension, Elliott wave theory) for a push up to at least 0.9570 resistance (Fibonacci retracement).
Stochastic (34,5,3) is seeing strong support above 3.6% where we expect a bounce from in price.

EURUSD profit target reached perfectly, prepare to sell for a drop

Sell below 1.1691. Stop loss at 1.1736. Take profit at 1.1583.
Reason for the trading strategy (technically):
Price has shot up from our buying level yesterday perfectly and reached our profit target once again. We prepare to sell below major resistance at 1.1691 (Fibonacci extension, Elliott wave theory) for a corrective push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 98% where we expect a corresponding reaction from.

MEX_Exchange · July 24, 2017, 1:45am

Date: July 24, 2017

USDJPY testing another major support, we prepare for a bounce

Buy above 110.88. Stop loss at 109.97. Take profit at 112.42.
Reason for the trading strategy (technically):
Price has dropped further and is now testing another key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a short term correction to at least 112.42 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing nice support above 1.2% where we expect a bounce from.

AUDJPY profit target reached perfectly, remain bearish for a further drop

Sell below 88.15. Stop loss at 88.60. Take profit at 87.52.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.

GBPUSD profit target reached perfectly, prepare to sell from here

Sell below 1.3006. Stop loss at 1.3053. Take profit at 1.2929.
Reason for the trading strategy (technically):
Price has bounce up and reached our profit target. We prepare to sell below 1.3006 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a drop towards at least 1.2929 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is fast approaching our 95% resistance where we expect a reaction from.

NZDUSD approaching major resistance, prepare to sell

Sell below 0.7480. Stop loss at 0.7510. Take profit at 0.7394.
Reason for the trading strategy (technically):
Price is fast approaching major resistance at 0.7480 (highest point for past 2 years) and we expect to see a drop from that level to at least 0.7394 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing nice resistance below 94% and we expect to see a corresponding drop from this level.

USDCHF right on major support, prepare to buy

Buy above 0.9440. Stop loss at 0.9419. Take profit at 0.9491.
Reason for the trading strategy (technically):
Price has dropped further and is now testing major support at 0.9440 (Fibonacci extension, lowest point in past 2 years) and we expect to see a bounce above this level to at least 0.9491 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is bouncing nicely above our support at 3.6%.

EURUSD approaching major resistance, prepare to sell

Sell below 1.1691. Stop loss at 1.1736. Take profit at 1.1583.
Reason for the trading strategy (technically):
We remain bearish looking to sell below major resistance at 1.1691 (Fibonacci extension, Elliott wave theory) for a corrective push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 98% where we expect a corresponding reaction from.

MEX_Exchange · July 25, 2017, 2:02am

Date: July 25, 2017

USDJPY bouncing nicely as expected, remain bullish for a further bounce

Buy above 110.88. Stop loss at 109.97. Take profit at 112.42.
Reason for the trading strategy (technically):
Price has dropped further to our buying area and has now started bouncing off our key support area. The plan is to remain bullish above key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a short term correction to at least 112.42 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is bouncing nicely off our 1.2% support as expected

AUDJPY right on resistance, remain bearish for a further drop

Sell below 88.15. Stop loss at 88.60. Take profit at 87.52.
Reason for the trading strategy (technically):
We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) sees long term descending resistance holding price momentum down which helps us keep our bearish bias.

AUDUSD prepare to sell on break of key support

Sell below 0.7871. Stop loss at 0.7937. Take profit at 0.7741.
Reason for the trading strategy (technically):
Price is hovering above key support at 0.7871 (Fibonacci retracement, horizontal swing low support) and we prepare to sell once price breaks this key level. Our profit target is a push down to next key support level at 0.7741 (Fibonacci retracement, horizontal pullback support).
RSI (55) is seeing bearish momentum within its bearish descending channel.

NZDUSD prepare to sell on break of major support

Sell below 0.7423. Stop loss at 0.7461. Take profit at 0.7332.
Reason for the trading strategy (technically):
Price is hovering above key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell on the break of such a key support for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 94% where we expect a further drop from soon. Confirmation of the break of our key support on price is needed to confirm our move down.

USDCHF bouncing up nicely, remain bullish for a further rise

Buy above 0.9474. Stop loss at 0.9441. Take profit at 0.9523.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and is fast approaching our profit target. We continue to buy above 0.9474 support (resistance-turned-support level) for a further push up to 0.9523 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is bouncing nicely above our support at 3.6%.

EURUSD dropping nicely, remain bearish for a further drop

Sell below 1.1658. Stop loss at 1.1690. Take profit at 1.1583.
Reason for the trading strategy (technically):
Price has started to drop really nicely from our selling area. We prepare to sell below 1.1658 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is dropping nicely from our 98% resistance and has good downside potential.

MEX_Exchange · July 26, 2017, 1:47am

Date: July 26, 2017

USDJPY bounced up perfectly to profit target, remain bullish for a further rise

Buy above 111.38. Stop loss at 110.64. Take profit at 112.90.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area and is fast approaching our first profit target. We remain bullish above 111.38 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 112.90 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (34,5,3) is bouncing nicely off our 1.2% support as expected

AUDJPY approaching major resistance, prepare to sell

Sell below 89.31. Stop loss at 89.66. Take profit at 88.15.
Reason for the trading strategy (technically):
We prepare to sell below major resistance at 89.31 (Multiple Fibonacci extensions, swing high resistance) for a push down to at least 88.15 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 97% where we expect a reaction from soon.
Correlation analysis : AUDJPY looks like it has a little bit of a further upside before a drop, and this is in line with what we’re expecting on USDJPY’s recent rally.

AUDUSD sell below major resistance

Sell below 0.7969. Stop loss at 0.8005. Take profit at 0.7841.
Reason for the trading strategy (technically):
Price is hovering below major resistance at 0.7969 (Fibonacci extension, horizontal swing high resistance) and we expect to see a drop from this level towards 0.7841 support (Fibonacci retracement, Fibonacci extension, horizontal pullback support). The trigger for this trade would be when price breaks our ascending support line. Our stop loss is kept at 0.8005 (right above big figure).
RSI (55) is seeing bearish momentum within its bearish descending line.
Correlation analysis: AUDUSD and NZDUSD are both positively correlated. So it is good to see a drop on NZDUSD and AUDUSD as that increases our conviction on this trade.

NZDUSD major support broken, time to start selling

Sell below 0.7423. Stop loss at 0.7461. Take profit at 0.7332.
Reason for the trading strategy (technically):
Price has finally properly broken our key support level at 0.7423 (Fibonacci retracement, horizontal overlap support) and we plan to sell below this level for a push down to at least 0.7332 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) has broken our ascending support-turned-resistance line signalling that a drop is expected.
Correlation analysis: AUDUSD and NZDUSD are both positively correlated. So it is good to see a drop on NZDUSD and AUDUSD as that increases our conviction on this trade.

USDCHF profit target reached perfectly, prepare to sell

Sell below 0.9530. Stop loss at 0.9563. Take profit at 0.9436.
Reason for the trading strategy (technically):
Price has shot up perfectly and reached our profit target from yesterday. We prepare to sell below major resistance at 0.9530 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a push down to at least 0.9436 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is right on major resistance at 95%.

EURUSD below major resistance, remain bearish

Sell below 1.1693. Stop loss at 1.1722. Take profit at 1.1583.
Reason for the trading strategy (technically):
Price has formed a really strong bearish reversal sign below 1.1693 resistance (Fibonacci extension, horizontal swing high resistance, bearish price action, bearish divergence) and we expect to see a further drop below this level towards at least 1.1583 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is dropping nicely from our 98% resistance and has good downside potential.

MEX_Exchange · July 27, 2017, 1:34am

Date: July 27, 2017

USDJPY change in structure, prepare to sell

Sell below 111.56. Stop loss at 112.27. Take profit at 110.29.
Reason for the trading strategy (technically):
We prepare to sell below 111.56 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 110.29 support (Fibonacci extension, horizontal pullback support, Elliott wave theory).
Stochastic (21,5,3) is reacting nicely off our 93% resistance with good downside potential.
Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.

AUDJPY dropping nicely, remain bearish for a further drop

Sell below 88.92. Stop loss at 89.35. Take profit at 88.17.
Reason for the trading strategy (technically):
Price has dropped nicely from yesterday and we remain bearish below 88.92 resistance (Fibonacci extension, Fibonacci retracement, Elliott wave theory, bearish divergence) for a drop towards 88.17 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from soon. We can also see bearish divergence vs price signalling that a reversal is impending.
Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.

EURJPY right on major resistance, prepare to sell

Sell below 130.50. Stop loss at 130.81. Take profit at 129.61.
Reason for the trading strategy (technically):
Price is reacting off major resistance at 130.50 (Fibonacci extension, horizontal swing high resistance, bearish pride action) and we expect to see a reaction off this level for a drop towards 129.61 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) is seeing a reaction off our 95% resistance with good downside potential to play the drop in price.
Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.

NZDUSD right on resistance, sell for a corrective drop

Sell below 0.7528. Stop loss at 0.7560. Take profit at 0.7461.
Reason for the trading strategy (technically):
Price has continued to rise and is now seeing strong resistance at 0.7528 (Multiple Fibonacci extensions) and we expect to see a corrective drop from this level to at least 0.7461 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 94% where we expect a reaction from soon.

USDCHF approaching major support, prepare to buy for a bounce

Buy above 0.9493. Stop loss at 0.9451. Take profit at 0.9566.
Reason for the trading strategy (technically):
Price is now testing major support at 0.9493 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to at least 0.9566 resistance (Fibonacci retracement.
Stochastic (34,5,3) is fast approaching 6.4% where we expect a bounce from that corresponds to price too.
Correlation analysis: USDCHF and EURUSD are negatively correlated. So it is nice to see a bounce on USDCHF and a correlated drop on EURUSD.

EURUSD right on channel resistance, prepare to sell

Sell below 1.1746. Stop loss at 1.1782. Take profit at 1.1617.
Reason for the trading strategy (technically):
Price is right on major resistance at 1.1746 (Fibonacci extension, channel resistance) and we expect to see a reaction off this level for a drop towards 1.1617 support (Fibonacci retracement, multiple swing low support).
Stochastic (34,5,3) is seeing major resistance below 98% where we expect a corresponding reaction from.
Correlation analysis: USDCHF and EURUSD are negatively correlated. So it is nice to see a bounce on USDCHF and a correlated drop on EURUSD.

MEX_Exchange · July 28, 2017, 1:53am

Date: July 28, 2017

USDJPY dropping nicely from resistance, remain bearish

Sell below 111.56. Stop loss at 112.27. Take profit at 110.29.
Reason for the trading strategy (technically):
We remain bearish and continue to sell below 111.56 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 110.29 support (Fibonacci extension, horizontal pullback support, Elliott wave theory).
Stochastic (21,5,3) is reacting nicely off our intermediate resistance at 68% where we expect a further drop from.
Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.

AUDJPY remain bearish for a further drop

Sell below 88.83. Stop loss at 89.35. Take profit at 87.65.
Reason for the trading strategy (technically):
Price has broken a really nice ascending support-turned-resistance line triggering a bearish move. We prepare to sell below 88.83 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.65 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% and we also see a bearish exit signalling that a change in momentum has occurred.
Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.

EURJPY profit target reached perfectly, prepare to buy for a bounce

Buy above 129.54. Stop loss at 129.20. Take profit at 130.50.
Reason for the trading strategy (technically):
Price has dropped from our selling area perfectly and reached our profit target. We prepare to buy above major support at 129.54 (Fibonacci retracement horizontal overlap support, Fibonacci extension) for a push up to at least 130.50 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing strong support above 7.5% where we expect a bounce from that corresponds to the bounce we’re expecting on price.

NZDUSD prepare to buy on major support

Buy above 0.7461. Stop loss at 0.7401. Take profit at 0.7549.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7461 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we expect to see a nice bounce above this level for price to reach at least 0.7549 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,5,3) is seeing major support above 5.6% where we expect a bounce from.

AUDUSD right on major support, prepare to buy for a bounce

Buy above 0.7969. Stop loss at 0.7911. Take profit at 0.8066.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7969 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise at least to 0.8066 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) is seeing pullback support to our descending resistance-turned-support line and we expect to see it make a bounce off from here similarly to the bounce we’re expecting on price.

EURUSD dropping perfectly towards profit target, remain bearish for a further drop

Sell below 1.1715. Stop loss at 1.1750. Take profit at 1.1617.
Reason for the trading strategy (technically):
Price dropped perfectly from our selling area yesterday. We remain bearish looking to sell below 1.1715 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 1.1617 support (Fibonacci extension, horizontal swing low support). It’s important to take note of the ascending support line we see that is serving as intermediate support to price.
Stochastic (34,5,3) is seeing good downside potential for price to make a further drop.

MEX_Exchange · July 31, 2017, 1:46am

Date: July 31, 2017

USDJPY profit target reached, remain bearish for a further drop

Sell below 110.75. Stop loss at 111.37. Take profit at 109.80.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area last week and has reached our profit target. We remain bearish below major resistance at 110.75 (Fibonacci retracement, horizontal pullback resistance) for a further push down towards 111.37 support (Fibonacci extension, Elliott wave theory).
Stochastic (21,5,3) continues to see strong downside pressure for a final push down in price.
Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.

AUDJPY dropping perfectly from our selling area, remain bearish for a further drop

Sell below 88.83. Stop loss at 89.35. Take profit at 87.65.
Reason for the trading strategy (technically):
Price has reached our selling area and dropped perfectly from there towards our profit target. We remain bearish looking to sell below 88.83 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.65 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 95% and we also see a bearish exit signalling that a change in momentum has occurred. It still has some downside potential that goes in line with the drop we’re expecting on price.
Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.

EURJPY profit target reached perfectly. Prepare to buy on major support

Buy above 129.56. Stop loss at 129.20. Take profit at 130.78.
Reason for the trading strategy (technically):
Price has bounced off our buying area perfectly and has reached our profit target. We prepare to buy above 129.56 support once again (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to at least 130.78 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing strong support above 7.5% where we expect a further bounce from.

NZDUSD approaching profit target, remain bullish

Buy above 0.7484. Stop loss at 0.7457. Take profit at 0.7549.
Reason for the trading strategy (technically):
Price touched our buy entry and shot up perfectly towards our profit target. We remain bullish looking to buy on dips above 0.7484 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). We move our stop loss to 0.7457 to protect our profits.
Stochastic (34,5,3) is bouncing up nicely from our support previously and still has some good upside potential that corresponds to the rise we’re expecting on price.

AUDUSD right on major support, prepare to buy for a bounce

Buy above 0.7969. Stop loss at 0.7911. Take profit at 0.8066.
Reason for the trading strategy (technically):
Price is now testing major support at 0.7969 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise at least to 0.8066 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) is seeing pullback support to our descending resistance-turned-support line and we expect to see it make a bounce off from here similarly to the bounce we’re expecting on price.

EURUSD testing major resistance, remain bearish

Sell below 1.1760. Stop loss at 1.1798. Take profit at 1.1649.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.1760 (Fibonacci extension, horizontal swing high resistance) and we expect to see a drop from this level to at least 1.1649 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). It is important to keep an eye out for the ascending support line that has held price up really well. Only a break of that level would open a stronger drop towards our profit target.
Stochastic (34,5,3) is seeing strong resistance below our 98% level.

MEX_Exchange · August 1, 2017, 2:03am

Date: August 1, 2017

USDJPY approaching profit target, prepare to buy

Buy above 109.80. Stop loss at 108.67. Take profit at 111.59.
Reason for the trading strategy (technically):
Price has dropped nicely from our selling area and is fast approaching our profit target. Due to the changing elements, we close out our current positions and prepare to turn bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees bullish divergence signalling that a bounce is impending. The previous occurrence of such a bullish divergence led to a huge bullish rally.

AUDJPY approaching profit target, remain bearish

Sell below 88.34. Stop loss at 88.70. Take profit at 87.65.
Reason for the trading strategy (technically):
Price has continued to drop nicely towards our profit target. We remain bearish looking to sell below 88.34 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least 87.65 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing intermediate resistance below 45% where we expect a further drop from.
Correlation analysis: We are seeing JPY strength with AUDJPY and EURJPY expecting drops.

EURJPY profit target reached once again, prepare to sell

Sell below 130.78. Stop loss at 131.08. Take profit at 129.96.
Reason for the trading strategy (technically):
Price has bounced above our buying entry and is fast approaching our profit target once again. We prepare to sell below major resistance at 130.78 (Fibonacci extension, horizontal swing high resistance) for a drop towards 129.96 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 94% where we expect a strong drop from.
Correlation analysis: We are seeing JPY strength with AUDJPY and EURJPY expecting drops. We are also expecting EUR weakness with strong resistance seen on EURUSD and EURJPY.

NZDUSD remain bullish for a further rise

Buy above 0.7484. Stop loss at 0.7457. Take profit at 0.7549.
Reason for the trading strategy (technically):
Price has made a bullish exit from a short term triangle formation. We remain bullish looking to buy on dips above 0.7484 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 0.7549 resistance (Fibonacci extension, horizontal swing high resistance). We move our stop loss to 0.7457 to protect our profits.
RSI (34) sees good support above 45% and also a bullish exit of a recent descending resistance-turned-support line signalling that a rise is impending.
Correlation analysis: We are expecting commodities strength with AUDUSD and NZDUSD both seeing bounces.

AUDUSD remain bullish for a further rise

Buy above 0.7969. Stop loss at 0.7911. Take profit at 0.8066.
Reason for the trading strategy (technically):
Price has made a recent bullish exit of our triangle formation. We remain bullish above major support at 0.7969 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level for a rise at least to 0.8066 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) is seeing pullback support to our descending resistance-turned-support line and also sees an intermediate ascending support line holding it up nicely.
Correlation analysis: We are expecting commodities strength with AUDUSD and NZDUSD both seeing bounces.

EURUSD on major resistance, prepare to sell

Sell below 1.1846. Stop loss at 1.1880. Take profit at 1.1764.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing strong resistance below our 98% level where we expect a drop from too.
Correlation analysis: We are expecting EUR weakness with strong resistance seen on EURUSD and EURJPY.

MEX_Exchange · August 2, 2017, 1:40am

Date: August 2, 2017

USDJPY approaching major support, remain bullish

Buy above 109.80. Stop loss at 108.67. Take profit at 111.59.
Reason for the trading strategy (technically):
We remain bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees bullish divergence signalling that a bounce is impending. The previous occurrence of such a bullish divergence led to a huge bullish rally.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on USDJPY, AUDJPY and EURJPY.

AUDJPY profit target reached perfectly, prepare to buy

Buy above 87.71. Stop loss at 87.44. Take profit at 88.34.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 87.71 (Fibonacci extension, horizontal swing low support, Fibonacci retracement) for a push up to at least 88.34 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 2.3% where we expect a bounce from.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on USDJPY, AUDJPY and EURJPY.

EURJPY profit target reached once again, prepare to buy

Buy above 129.96. Stop loss at 129.50. Take profit at 130.78.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target for the 4th time in a row. We prepare to buy above major support at 129.96 (Fibonacci retracement, horizontal overlap support, bullish price action) for a push up to at least 130.78 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees long term ascending support line hold our bullish momentum really well.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on USDJPY, AUDJPY and EURJPY.

NZDUSD prepare to sell with break of major support

Sell below 0.7491. Stop loss at 0.7531. Take profit at 0.7405.
Reason for the trading strategy (technically):
Price has broken a major ascending support-turned-resistance line and we expect a strong drop from here. We prepare to sell below strong resistance at 0.7491 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7405 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
RSI (34) is starting to see our support-turned-resistance line broken which would trigger a corresponding drop in price.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

AUDUSD turn bearish with the break of major support

Sell below 0.7996. Stop loss at 0.8047. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price has broken our ascending support-turned-resistance line triggering a bearish move from here. We look to sell below major resistance at 0.7996 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7875 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
RSI (34) sees our ascending support-turned-resistance line broken triggering a bearish drop from here.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

Date: August 2, 2017
EURUSD dropping perfectly from our selling area, remain bearish

Sell below 1.1846. Stop loss at 1.1880. Take profit at 1.1764.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.1846 (multiple Fibonacci extensions, horizontal swing high resistance) and we expect to see an intermediate correction for a drop towards 1.1764 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is reacting nicely off its resistance and we expect a further drop from here.

MEX_Exchange · August 3, 2017, 1:50am

Date: August 3, 2017

USDJPY bouncing up nicely from support, remain bullish for a further rise

Buy above 109.80. Stop loss at 108.67. Take profit at 111.59.
Reason for the trading strategy (technically):
Price has started to bounce really nicely off our buying entry. We remain bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees bullish divergence signalling that a bounce is impending. The previous occurrence of such a bullish divergence led to a huge bullish rally.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on USDJPY, AUDJPY and EURJPY.

AUDJPY profit target reached once again, turn bearish for a short term correction

Sell below 88.31. Stop loss at 88.58. Take profit at 87.71.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below 88.31 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.71 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,5,3) is seeing intermediate resistance below 85% where we expect a drop from.
Correlation analysis: We are seeing intermediate JPY strength with corrections expected on AUDJPY and EURJPY.

EURJPY profit target reached for the 5th time, prepare to short

Sell below 131.32. Stop loss at 131.60. Take profit at 130.63.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target for the 5th time in a row. We prepare to sell below 131.32 resistance (Fibonacci extension, bearish price action) for a push down to at least 130.63 support (Fibonacci retracement, horizontal pullback support).
RSI (34) sees resistance below 64% where we expect a drop from.
Correlation analysis: We are seeing intermediate JPY strength with corrections expected on AUDJPY and EURJPY.

NZDUSD profit target reached perfectly, remain bearish for a further drop

Sell below 0.7459. Stop loss at 0.7500. Take profit at 0.7333.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We prepare to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a lot of resistance pushing it down really well.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

AUDUSD remain bearish for a further drop

Sell below 0.7992. Stop loss at 0.8047. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price has broken our ascending support-turned-resistance line triggering a bearish move from here. We look to sell below major resistance at 0.7992 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down all the way to 0.7875 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
RSI (34) sees our ascending support-turned-resistance line broken triggering a bearish drop from here.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

USDCAD on major support, look to buy for a long term position

Buy above 1.2460. Stop loss at 1.2142. Take profit at 1.3000.
Reason for the trading strategy (technically):
Price is testing major support at 1.2460 (major swing low for past 2 years, Fibonacci extension, bullish price action) and we expect to see a long term correction from this level towards at least 1.3000 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is bouncing nicely off our 0.85% support.

MEX_Exchange · August 4, 2017, 1:53am

Date: August 4, 2017

USDJPY approaching major support again, remain bullish

Buy above 109.80. Stop loss at 108.67. Take profit at 111.59.
Reason for the trading strategy (technically):
Price is forming a really nice bullish reversal signal above our major support. We remain bullish looking to buy on dips above 109.80 support (Fibonacci extension, Fibonacci retracement, bullish divergence) for a push up to at least 111.59 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees bullish divergence signalling that a bounce is impending. The previous occurrence of such a bullish divergence led to a huge bullish rally.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.

AUDJPY profit target reached for the 4th time, prepare to buy for a small correction

Buy above 87.36. Stop loss at 87.12. Take profit at 87.80.
Reason for the trading strategy (technically):
Price has dropped nicely and reached our profit target for the 4th time in a row yesterday. We prepare to buy for a small correction above support at 87.36 (Fibonacci extension, bullish price action) for a push up to at least 87.80 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing intermediate support above 10.14% where we expect a bounce from.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.

EURJPY profit target reached for the 6th time, prepare to buy

Buy above 130.58. Stop loss at 130.11. Take profit at 131.34.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target for the 6th time in a row. We prepare to buy above major support at 130.58 (Fibonacci retracement, horizontal pullback support) for a push up to at least 131.31 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees ascending support holding it up really nicely.
Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.

NZDUSD testing major resistance, remain bearish for a further drop

Sell below 0.7459. Stop loss at 0.7500. Take profit at 0.7333.
Reason for the trading strategy (technically):
Price has risen and is approaching our major resistance level. We remain bearish looking to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a lot of resistance pushing it down really well.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

AUDUSD remain bearish for a further drop

Sell below 0.7962. Stop loss at 0.7995. Take profit at 0.7875.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7962 (Fibonacci retracement, Fibonacci extension) and we expect to see a drop from here towards 0.7875 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a descending resistance line holding our bearish momentum really nicely.
Correlation analysis: We are expecting commodities weakness with AUDUSD and NZDUSD both expecting drops.

Date: August 4, 2017
GBPUSD on pullback resistance, time to start selling

Sell below 1.3154. Stop loss at 1.3191. Take profit at 1.3058.
Reason for the trading strategy (technically):
Price has broken a long term ascending support-turned-resistance line and we’re expecting to see a nice drop from here. We look to sell below 1.3154 resistance (Fibonacci retracement, pullback resistance) for a further push down to at least 1.3058 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) has broken our ascending support line and is now expecting further bearish movement.