Date: November 15, 2017
USDCHF key support broken, confirming strong reversal
Sell below 0.9925. Stop loss at 0.9991. Take profit at 0.9826.
Reason for the trading strategy (technically):
Price has broken a key support level triggering a head and shoulders reversal. We look to sell below 0.9925 resistance (Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9826 support (head and shoulders exit potential, pullback support, Fibonacci extension).
RSI (89) is under a lot of pressure.
AUDUSD testing major support, remain bullish
Buy above 0.7628. Stop loss at 0.7556. Take profit at 0.7730.
Reason for the trading strategy (technically):
AUDUSD continues to test our major support. We remain bullish looking to buy above 0.7628 major support (Fibonacci extension, horizontal swing low support, Long term Fibonacci retracement) for a push up to at least 0.7730 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is right above our 2.2% major support level.
AUDJPY continues to test major support, remain bullish
Buy above 86.58. Stop loss at 86.26. Take profit at 87.21.
Reason for the trading strategy (technically):
Price continues to whipsaw and continues to be testing our major support level at 86.58 (Fibonacci extension, long term Fibonacci retracement, fake horizontal breakout). We look to buy above this level for a corrective bounce to at least 87.21 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bullish divergence).
Stochastic (89,3,1) is seeing strong support above 1.2% and also sees bullish divergence vs price signalling that a bounce is impending.
NZDUSD look to sell below strong resistance
Sell below 0.6890. Stop loss at 0.6916. Take profit at 0.6824.
Reason for the trading strategy (technically):
Price has dropped strongly from yesterday. Today we look to sell on strength below strong resistance at 0.6890 (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least major support at 0.6824 (Fibonacci extension, horizontal swing low support).
RSI (55) sees pullback resistance below 46% where we expect further downside pressure from.
EURJPY profit target reached perfectly, prepare to sell on strong resistance
Sell below 133.85. Stop loss at 134.18. Take profit at 133.12.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We look to sell on major resistance at 133.85 (Horizontal pullback resistance, Fibonacci retracement, Fibonacci extension) for a corrective drop to at least 133.12 support (Fibonacci retracement, horizontal pullback support).
RSI (34) sees strong resistance below 69% where we expect a corresponding drop from.
USDJPY below strong resistance, look to sell on strength
Sell below 133.72. Stop loss at 114.11. Take profit at 112.95.
Reason for the trading strategy (technically):
Price has dropped nicely from our selling area previously We look to sell on strength below 113.72 resistance (Fibonacci retracement, horizontal overlap resistance) for a stronger push down to 112.95 support (Fibonacci extension, horizontal swing low support). Only a break of our ascending channel would confirm stronger downside acceleration towards our profit target.
RSI (34) has seen a bearish breakout signalling that price might be breaking out of its ascending channel support too.