Date: November 16, 2017
USDCHF dropping really nicely from selling area, remain bearish
Sell below 0.9925. Stop loss at 0.9991. Take profit at 0.9826.
Reason for the trading strategy (technically):
Price has continued to drop really nicely after breaking our key support area. We look to remain bearish and sell on strength 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 downside pressure.
EURUSD right below major resistance, remain bearish
Sell below 1.1879. Stop loss at 1.2015. Take profit at 1.1673.
Reason for the trading strategy (technically):
We’re seeing major resistance below 1.1879 (Fibonacci retracement, horizontal overlap resistance) and we expect to see price make a strong push down from this level towards 1.1673 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,5,3) is seeing strong resistance below 95% where we expect a corresponding drop from.
AUDJPY looking for a bounce above major support
Buy above 85.53. Stop loss at 84.92. Take profit at 86.67.
Reason for the trading strategy (technically):
Price continues to inch lower and we’re starting to see major support at 85.53 (Fibonacci extension, horizontal swing low support) where we expect a bounce from to push price up to at least 86.67 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (89,3,1) is seeing major support above 1.1% where we expect a corresponding bounce from.
AUDUSD broken key support, time to start selling
Sell below 0.7630. Stop loss at 0.7743. Take profit at 0.7514 before 0.7374.
Reason for the trading strategy (technically):
Price has broken a major support level triggering a bearish move from here. We look to sell on strength below major resistance at 0.7630 (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 0.7514 first (horizontal overlap support, Fibonacci retracement) before 0.7374 (Fibonacci retracement, horizontal swing low support).
RSI (34) sees long term descending resistance line holding price down really well.
EURJPY profit target reached once again, prepare to buy
Buy above 132.63. Stop loss at 131.87. Take profit at 133.74.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target. We prepare to buy on major support at 132.63 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) for a push up to 133.74 resistance (Fibonacci extension, horizontal swing high resistance) once again.
Stochastic (34,3,1) is seeing major support at 0.4% where we expect a corresponding bounce to occur.
USDJPY dropping beautifully as expected, remain bearish for a further drop
Sell below 133.09. Stop loss at 113.52. Take profit at 112.33.
Reason for the trading strategy (technically):
Price has dropped perfectly towards our profit target. We now look to sell below 113.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 112.33 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).
RSI (34) remains under major descending resistance.