☆ Daily Technical Analysis by MEX Exchange ☆

MEX_Exchange · October 4, 2017, 1:26am

Date: October 4, 2017

NZDUSD approaching major support, prepare to buy

Buy above 0.7128. Stop loss at 0.7091. Take profit at 0.7174.
Reason for the trading strategy (technically):
Price is approaching major support at 0.7128 (Fibonacci extension, horizontal swing low support) and we expect a bounce above this level for an intermediate correction to 0.7174 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2.4% where we expect a bounce from.

USDJPY prepare to sell on the break of support

Sell below 112.65. Stop loss at 113.45. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has been hovering around our resistance area and forming a very nice reversal pattern. We look to sell on the break of our triangle formation and break of key support at 112.65 (overlap support, triangle support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. However, we see intermediate support at 50% so only a break of this level would trigger a bearish move.

USDCHF approaching major support, prepare to buy

Buy above 1.1661. Stop loss at 1.1608. Take profit at 1.1773.
Reason for the trading strategy (technically):
Price is approaching major support at 1.1661 (Fibonacci extension, horizontal swing low support) and we expect to see a corrective bounce above this level to push price up to at least 1.1773 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support above 0.3% and we expect further bullish action as it hovers above this key level.

AUDUSD bounce caught perfectly, remain bullish as we approach profit target

Buy above 0.7794. Stop loss at 0.7759. Take profit at 0.7868.
Reason for the trading strategy (technically):
We caught the bounce on AUDUSD absolutely perfectly and it is fast approaching our profit target. We remain bullish looking to buy on dips above major support at 0.7794 (Fibonacci extension, horizontal swing low support, bullish divergence) for the rise to at least 0.7868 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) has some good upside potential to go before we reach major resistance, this coincides with the profit target we’re expecting in price.

EURJPY approaching major support, prepare to buy

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price is approaching major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing major support above 1% where we expect a corresponding bounce from.

AUDJPY broken out of triangle formation, remain bullish for a bounce

Buy above 88.04. Stop loss at 87.59. Take profit at 89.09.
Reason for the trading strategy (technically):
Price has finally made a bullish exit of its triangle formation and continues to hover nicely above our buying entry. We remain bullish looking to buy above support at 88.04 (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing bullish confirmation with a recent bullish exit of our triangle formation signalling that a change in momentum is fast approaching.

MEX_Exchange · October 5, 2017, 1:26am

Date: October 5, 2017

USDJPY breaking support nicely, remain bearish

Sell below 112.65. Stop loss at 113.45. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has broken our triangle formation making a bearish exit. We look to sell once again on the break of our triangle formation and break of key support at 112.65 (overlap support, triangle support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. However, we see intermediate support at 50% so only a break of this level would trigger a bearish move.

EURJPY approaching major support, prepare to buy

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price has been in a triangle formation waiting for a bullish break out. We remain bullish above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing good upside potential for price to rise further.

AUDJPY approaching profit target as expected, prepare to sell

Sell below 88.88. Stop loss at 89.39. Take profit at 87.89.
Reason for the trading strategy (technically):
Price has continued to rise nicely towards our profit target since we caught the bounce perfectly. Today we change view and prepare to sell on major resistance at 88.88 (Fibonacci retracement, swing high resistance, channel resistance) to begin the drop towards 87.89 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 99% and we expect to see a nice drop from this level.

NZDUSD under major resistance, time to start selling

Sell below 0.7174. Stop loss at 0.7210. Take profit at 0.7087.
Reason for the trading strategy (technically):
Price is experiencing major resistance and we take this opportunity to start selling. We look to sell below 0.7174 resistance (Fibonacci retracement, descending resistance, horizontal overlap resistance) for a push down to at least 0.7087 support (Fibonacci extension, Elliott wave theory).
RSI (55) is seeing descending resistance similar to price holding it down.

AUDUSD right on major resistance, time to start selling

Sell below 0.7868. Stop loss at 0.7910. Take profit at 0.7794.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7868 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 0.7794 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect to see a strong reaction off this level too.

EURUSD approaching major resistance, prepare to sell

Sell below 1.1836. Stop loss at 1.1897. Take profit at 1.1717.
Reason for the trading strategy (technically):
Price is approaching major resistance at 1.1836 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off this level to push price down to at least 1.1717 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 99% and we have a little more upside potential to go which coincides with the drop we’re expecting on price.

MEX_Exchange · October 6, 2017, 3:25am

Date: October 6, 2017

USDJPY sell on the break of wedge formation

Sell below 112.65. Stop loss at 113.45. Take profit at 110.90.
Reason for the trading strategy (technically):
Price is forming a wedge formation and only a break of this formation would trigger a bearish move. We look to sell once again on break of key support at 112.65 (overlap support, wedge support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. However, we see intermediate support at 50% so only a break of this level would trigger a bearish move.

EURJPY bouncing nicely off major support, time to buy

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price has finally dropped to our buying area. We remain bullish above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 1% support as expected.

AUDJPY profit target reached perfectly, time to start buying

Buy above 87.81. Stop loss at 87.40. Take profit at 88.75.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from.

NZDUSD dropped perfectly, remain bearish for a further push down

Sell below 0.7145. Stop loss at 0.7175. Take profit at 0.7087.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly as expected. We remain bearish looking to sell on strength below 0.7145 resistance (Fibonacci retracement, horizontal pullback resistance, descending resistance) for a further push down to at least 0.7087 support (Fibonacci extension, Elliott wave structure).
RSI (34) sees a bearish exit of our triangle formation signalling that further bearish momentum is expected.

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

Buy above 0.7794. Stop loss at 0.7748. Take profit at 0.7868.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7794 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7868 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2.9% where we expect a corresponding bounce from.

EURUSD on strong support, time to buy to play the bounce

Buy above 1.1698. Stop loss at 1.1653. Take profit at 1.1793.
Reason for the trading strategy (technically):
Price is testing strong support at 1.1698 (Fibonacci extension, horizontal swing low support) and we expect to see a bounce above this level to push price up to at least 1.1793 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 0.3% where we expect a corresponding bounce from.

MEX_Exchange · October 9, 2017, 1:34am

Date: October 9, 2017

USDJPY starting to break our wedge formation, prepare to sell

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has been testing our wedge support and we can see that it is trying to break that key level of support. We look to sell once again on break of key support at 112.65 (overlap support, wedge support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. However, we see intermediate support at 50% so only a break of this level would trigger a bearish move.

EURJPY bouncing nicely off major support, time to buy

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price continues to test our buying area. We remain bullish above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 1% support as expected.

AUDJPY profit target reached perfectly, time to start buying

Buy above 87.81. Stop loss at 87.40. Take profit at 88.75.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from.

USDCHF approaching major support, prepare to buy

Buy above 0.9760. Stop loss at 0.9706. Take profit at 0.9834.
Reason for the trading strategy (technically):
Price is approaching major support at 0.9760 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level to push price up to at least 0.9834 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 5.8% where we expect a corresponding bounce from.

GBPUSD approaching major support, prepare to buy

Buy above 1.3002. Stop loss at 1.2829. Take profit at 1.3269.
Reason for the trading strategy (technically):
Price is approaching major support at 1.3002 (Fibonacci retracement, Fibonacci extension, horizontal pullback support) and we expect to see a corrective bounce above this level to push price back up to previous support-turned-resistance level at 1.3269 (Fibonacci retracement).
Stochastic (21,5,3) is seeing strong support at 3.4% where we expect a corresponding bounce from.

EURUSD testing strong resistance, prepare to sell

Sell below 1.1744. Stop loss at 1.1793. Take profit at 1.1653.
Reason for the trading strategy (technically):
Price has bounced up perfectly from our buying area previously and is fast approaching our profit target. We turn bearish today looking to sell below 1.11744 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 1.1653 support (Fibonacci extension).
Stochastic (21,5,3) is seeing major resistance below 95% and we expect a corresponding reaction from this level.

MEX_Exchange · October 10, 2017, 1:30am

Date: October 10, 2017

USDJPY starting to break our wedge formation, prepare to sell

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price is still testing our wedge support and we can see that it is trying to break that key level of support. We look to sell once again on break of key support at 112.65 (overlap support, wedge support) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. However, we see intermediate support at 50% so only a break of this level would trigger a bearish move.

EURJPY bouncing nicely off major support, time to buy

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price continues to test our buying area. We remain bullish above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is bouncing nicely off our 1% support as expected.

AUDJPY continues to test our major support, remain bullish

Buy above 87.81. Stop loss at 87.40. Take profit at 88.75.
Reason for the trading strategy (technically):
Price continues to test our major buying area. We remain bullish looking to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish divergence) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from. We can also see bullish divergence vs price signalling that a bounce is impending.

USDCHF bouncing up nicely, remain bullish

Buy above 0.9771. Stop loss at 0.9737. Take profit at 0.9834.
Reason for the trading strategy (technically):
Price has bounced up nicely as expected. We remain bullish looking to buy above major support at 0.9771 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a further push up to at least 0.9834 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 11% where we expect a further bounce from as it still has good upside potential.

GBPUSD bouncing perfectly, remain bullish

Buy above 1.3002. Stop loss at 1.2829. Take profit at 1.3269.
Reason for the trading strategy (technically):
Price has bounced up absolutely perfectly from our buying level as expected. We remain bullish above major support at 1.3002 (Fibonacci retracement, Fibonacci extension, horizontal pullback support) for a further rise above this level to push price back up to previous support-turned-resistance level at 1.3269 (Fibonacci retracement).
Stochastic (21,5,3) is seeing strong support at 3.4% and has made a bullish exit signalling a change in momentum. We can also see good upside potential.

EURUSD continues to test strong resistance, remain bearish

Sell below 1.1744. Stop loss at 1.1793. Take profit at 1.1653.
Reason for the trading strategy (technically):
Price continues to test our strong resistance and selling level as we wait for a reaction. We remain bearish today looking to sell below 1.11744 resistance (Fibonacci retracement, horizontal pullback resistance, bearish divergence) for a push down to at least 1.1653 support (Fibonacci extension).
Stochastic (21,5,3) is seeing major resistance below 95% and we expect a corresponding reaction from this level. We can also see bearish divergence vs price signalling that a drop is impending.

MEX_Exchange · October 11, 2017, 1:53am

Date: October 11, 2017

USDJPY has broken our key support level, time to start selling

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has broken our key support level triggering a bearish move from here. We look to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. We also see that is has dropped below 50% meaning it’s the start of a strong change in momentum.

EURJPY bouncing nicely off major support, remain bullish

Buy above 132.01. Stop loss at 130.45. Take profit at 134.15.
Reason for the trading strategy (technically):
Price continues to test our buying area. We remain bullish above major support at 132.01 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a nice bounce above this level to push price up to at least 134.15 resistance (Fibonacci extension, horizontal swing high resistance).
RSI (34) sees ascending support hold price up really nicely.

AUDJPY continues to test our major support, remain bullish

Buy above 87.81. Stop loss at 87.40. Take profit at 88.75.
Reason for the trading strategy (technically):
Price continues to test our major buying area. We remain bullish looking to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish divergence) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from. We can also see bullish divergence vs price signalling that a bounce is impending.

USDCHF testing major support, prepare to buy

Buy above 0.9741. Stop loss at 0.9704. Take profit at 0.9809.
Reason for the trading strategy (technically):
Price is testing major support at 0.9741 (Fibonacci extension, Fibonacci retracement, bullish divergence) and we expect a nice bounce above this level to push price up to at least 0.9809 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing strong support above 11% and also sees bullish divergence vs price, signalling that a bounce is impending.

GBPUSD approaching profit target, time to start selling

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price has risen really nicely towards our profit target. We prepare to sell as GBPUSD approaches major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 1.3032 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% where we expect a reaction from.

EURUSD approaching major resistance, prepare to sell

Sell below 1.1835. Stop loss at 1.1887. Take profit at 1.1672.
Reason for the trading strategy (technically):
Price is approaching major resistance at 1.1835 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, bearish divergence) and we expect to see a strong reaction off this level to push price down to at least 1.1672 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 95% along with bearish divergence vs price signalling that a reversal is impending.

MEX_Exchange · October 12, 2017, 1:55am

Date: October 12, 2017

USDJPY remain bearish with key support broken

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price had previously broken our key support level triggering a bearish move from here. We look to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. We also see that is has dropped below 50% meaning it’s the start of a strong change in momentum.

EURJPY position closed in profit, prepare to start selling

Sell below 133.41. Stop loss at 134.30. Take profit at 131.96.
Reason for the trading strategy (technically):
Price has shot up and is reaching our profit target. We look to close off our position and start selling because of the changing elements. The goal is to sell below 133.41 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 131.96 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
RSI (34) sees major resistance at 68% and is fast approaching that level where we expect a corresponding reaction from.

AUDJPY bouncing up nicely, remain bullish for a further rise

Buy above 87.81. Stop loss at 87.40. Take profit at 88.75.
Reason for the trading strategy (technically):
Price has bounced up nicely from our buying area and made a bullish exit of an intermediate descending resistance-turned-support line. We remain bullish looking to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish divergence) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from. We can also see bullish divergence vs price signalling that a bounce is impending.

USDCHF testing major support, remain bullish

Buy above 0.9741. Stop loss at 0.9704. Take profit at 0.9809.
Reason for the trading strategy (technically):
Price has dropped further and is in a strong descending wedge formation. The plan is to go flat now and buy on the bullish exit of this formation. We look to buy on the bullish break of 0.9741 (Horizontal overlap resistance, Fibonacci retracement, descending resistance) and we expect momentum to push price up to at least 0.9809 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
Stochastic (34,3,1) is seeing strong support above 11% where we expect a bounce from soon.

GBPUSD close to major resistance, prepare to sell

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price has continued to rise nicely to our major resistance area as expected. We prepare to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 1.3032 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% where we expect a reaction from.

EURUSD continues to rise strongly and is approaching major resistance, remain bearish

Sell below 1.1878. Stop loss at 1.1948. Take profit at 1.1529.
Reason for the trading strategy (technically):
We remain bearish with price testing two major Fibonacci retracement levels at 50% and 61.8% where we expect a reaction from. We adjust our stop loss to 1.1948 right above the gap to give this trade a bit more breathing space. The goal is to continue to sell below 1.1878 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a strong reaction off this level to push price down to at least 1.1752 support (Fibonacci retracement, horizontal overlap support)
Stochastic (34,3,1) is seeing major resistance at 95% along with bearish divergence vs price signalling that a reversal is impending.

MEX_Exchange · October 13, 2017, 1:48am

Date: October 13, 2017

USDJPY remain bearish with key support broken

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price had broken our key support and is hovering below it. We remain bearish looking to sell on strength below 112.65 resistance (Fibonacci retracement, pullback resistance) for a drop towards 110.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees bearish divergence signalling that a strong reversal is impending. We also see that is has dropped below 50% meaning it’s the start of a strong change in momentum.

AUDUSD on major resistance, prepare to sell

Sell below 0.7834. Stop loss at 0.7872. Take profit at 0.7768.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7834 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off this level to push price down to at least 0.7768 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance as it approaches to 100% level and we expect to see a corresponding reaction off this level.
Correlation analysis: We’re seeing commodities weakness with drops expected on AUDUSD, AUDJPY and NZDUSD.

AUDJPY now on major resistance, time to turn bearish

Sell below 87.93. Stop loss at 88.43. Take profit at 86.66.
Reason for the trading strategy (technically):
We caught the rise on AUDJPY quite nicely yesterday. Today we’re starting to see it on major resistance (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong drop from this level to push price down to at least 86.66 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 99% where we expect a corresponding reaction from.
Correlation analysis: We’re seeing commodities weakness with drops expected on AUDUSD, AUDJPY and NZDUSD.

NZDUSD testing major resistance, prepare to sell

Sell below 0.7146. Stop loss at 0.7126. Take profit at 0.7056.
Reason for the trading strategy (technically):
Price is now testing major resistance at 0.7146 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) and we expect to see a strong reaction off this level to push price down to at least 0.7056 support (Fibonacci extension, horizontal swing low support) once again.
Stochastic (34,3,1) is at major resistance at and we expect to see a strong reaction off this level too.
Correlation analysis: We’re seeing commodities weakness with drops expected on AUDUSD, AUDJPY and NZDUSD.

GBPUSD dropped perfectly, remain bearish

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price plummeted from our resistance yesterday before bouncing back up again. We remain bearish looking to sell on major resistance at 1.3269 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction off this level to push price down to at least 1.3032 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% where we expect a reaction from.

EURUSD dropping perfectly, prepare to sell on the break of support

Sell below 1.1832. Stop loss at 1.1888. Take profit at 1.1752.
Reason for the trading strategy (technically):
Price dropped perfectly from our selling area yesterday. The goal today is to look to sell on the break of our major support at 1.1832 (Fibonacci retracement, horizontal overlap support) and upon this break, we expect price to make a push down to at least 1.1752 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,3,1) is dropping nicely from our 93% resistance with good downside potential.

MEX_Exchange · October 16, 2017, 1:41am

Date: October 16, 2017

USDJPY remain bearish with key support broken

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price has broken our key support and dropped strongly towards our profit target. We’re still bearish on this move and we need to wait for price to make a retracement towards our sell entry before we take another position. We remain bearish below major resistance at 112.65 (Fibonacci retracement, pullback resistance) for a drop to at least 11.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees strong bearish divergence and is finally below our 50% resistance level signalling a strong change in momentum.

AUDUSD testing strong resistance, prepare to sell

Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) and we expect to see a strong drop from this level to push price down to at least 0.7789 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from.

AUDJPY strong resistance broken, time to start buying

Buy above 87.93. Stop loss at 87.20. Take profit at 88.82.
Reason for the trading strategy (technically):
Price has broken a strong resistance level which has led to a change in our momentum from bearish to bullish. We prepare to buy on dips above 87.93 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 88.82 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).
RSI (34) sees an ascending support channel supporting our bullish momentum view.

NZDUSD approaching major resistance, prepare to sell

Sell below 0.7245. Stop loss at 0.7351. Take profit at 0.7095.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7245 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off that level for a push down to at least 0.7095 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% and we expect to see a strong reaction off that level which corresponds to the drop we’re expecting on price too.

EURJPY profit target reached perfectly, prepare to buy on major support

Buy above 131.90. Stop loss at 131.12. Take profit at 133.42.
Reason for the trading strategy (technically):
Price dropped strongly from our selling area and has reached our profit target. We prepare to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 133.42 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support at 3.7% and we expect to see a corresponding bounce off this level similar to the one we are expecting on price.

EURUSD testing major resistance, remain bearish

Sell below 1.1832. Stop loss at 1.1888. Take profit at 1.1752.
Reason for the trading strategy (technically):
Price whipsawed around our selling area last week and held really well below our previous selling area below 1.1888. The goal today is to remain bearish below major resistance at 1.1832 (Fibonacci retracement, horizontal pullback resistance) for a drop to at least 1.1752 support (Fibonacci retracement, horizontal overlap support).
Stochastic (89,3,1) is dropping nicely from our 93% resistance with good downside potential.

MEX_Exchange · October 17, 2017, 2:01am

Date: October 17, 2017

USDJPY dropping nicely, remain bearish

Sell below 112.65. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price continues to drop nicely towards our profit target. We’re still bearish on this move and we need to wait for price to make a retracement towards our sell entry before we take another position. We remain bearish looking to sell on strength below major resistance at 112.65 (Fibonacci retracement, pullback resistance) for a drop to at least 11.90 support (Fibonacci retracement, horizontal overlap support).
RSI (55) sees strong bearish divergence and is finally below our 50% resistance level signalling a strong change in momentum.

AUDUSD dropping perfectly as expected, remain bearish

Sell below 0.7891. Stop loss at 0.7955. Take profit at 0.7789.
Reason for the trading strategy (technically):
Price is dropping perfectly as expected from our selling area. We remain bearish looking to sell below major resistance at 0.7891 (Multiple Fibonacci retracement, bearish price action) for a push down to at least 0.7789 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a reaction from.

AUDJPY remain bullish for a bounce

Buy above 87.92. Stop loss at 87.20. Take profit at 88.85.
Reason for the trading strategy (technically):
Price continues to test our buying area and is starting to bounce nicely. We remain bullish looking to buy above 87.92 support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to at least 88.85 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (22,3,1) is seeing nice support above 5% where it is bouncing up nicely.

NZDUSD approaching major resistance, prepare to sell

Sell below 0.7245. Stop loss at 0.7351. Take profit at 0.7095.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7245 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction off that level for a push down to at least 0.7095 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 97% and we expect to see a strong reaction off that level which corresponds to the drop we’re expecting on price too.

EURJPY testing major support, remain bullish

Buy above 131.90. Stop loss at 131.12. Take profit at 133.42.
Reason for the trading strategy (technically):
Price has dropped strongly to our buying area. We look to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 133.42 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support at 3.7% and we expect to see a corresponding bounce off this level similar to the one we are expecting on price.

EURUSD dropping perfectly as expected, turn bullish with a change in conditions

Buy above 1.1781. Stop loss at 1.1709. Take profit at 1.1878.
Reason for the trading strategy (technically):
Price has continued its drop perfectly towards our profit target. We now turn bullish due to the changing elements we are seeing. We look to buy above major support at 1.1781 (Fibonacci retracement, horizontal pullback support) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 1.1% where we are expecting a bounce from.
RSI (34) sees ascending support holding it up really well too.

MEX_Exchange · October 18, 2017, 2:22am

Date: October 18, 2017

USDJPY back to resistance, remain bearish

Sell below 112.50. Stop loss at 113.51. Take profit at 110.90.
Reason for the trading strategy (technically):
Price is back to our selling area once again. We remain bearish below major resistance at 112.50 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) where we expect a strong reaction from to push price further down to at least 110.90 support (Fibonacci retracement, horizontal pullback support).
RSI (55) sees a long term descending resistance line holding our bearish momentum

AUDUSD dropping really well, remain bearish for a further drop

Sell below 0.7837. Stop loss at 0.7904. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has dropped really well for our selling area. We look to protect our position by closing half and moving the rest to breakeven. Our view is to remain bearish below 0.7837 resistance (Fibonacci retracement support-turned-resistance, pullback resistance) for a further drop to at least 0.7738 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,3,1) is dropping nicely from our 97% resistance and has good downside potential.

AUDJPY remain bullish for a bounce

Buy above 87.92. Stop loss at 87.20. Take profit at 88.85.
Reason for the trading strategy (technically):
Price continues to test our buying area and is starting to bounce nicely. We remain bullish looking to buy above 87.92 support (Fibonacci retracement, horizontal overlap support, bullish exit) for a push up to at least 88.85 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing nice support above 5% and has good upside potential.

NZDUSD prepare to turn bullish on major support

Buy above 0.7146. Stop loss at 0.7093. Take profit at 0.7245.
Reason for the trading strategy (technically):
Price is approaching major support a t0.7146 (Fibonacci retracement, horizontal overlap support) and we expect to see a strong bounce off that level to push price to at least 0.7345 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 0.9% where we expect to see a corresponding bounce from.

EURJPY testing major support, remain bullish

Buy above 131.90. Stop loss at 131.12. Take profit at 133.42.
Reason for the trading strategy (technically):
Price continues to test our major support level. We remain bullish looking to buy above major support at 131.90 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 133.42 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,3,1) is seeing major support at 3.7% and we expect to see a corresponding bounce off this level similar to the one we are expecting on price.

EURUSD remain bullish for a bounce

Buy above 1.1747. Stop loss at 1.1709. Take profit at 1.1878.
Reason for the trading strategy (technically):
Price has continued to drop further as we look to buy above major support at 1.1747 (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 1.1% where we are expecting a bounce from.

MEX_Exchange · October 19, 2017, 1:50am

Date: October 19, 2017

GBPUSD dropping nicely from resistance, remain bearish for a further drop

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price has dropped really nicely from our selling area previously. We now remain bearish looking to sell on major resistance pullback at 1.3269 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down to at least 1.3032 support (Fibonacci extension, horizontal swig low support).
Stochastic (89,3,1) is dropping nicely from our 99% resistance and we see good downside potential for the rest of the drop.

AUDUSD remain bearish for a further drop

Sell below 0.7837. Stop loss at 0.7904. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has whipsawed around our entry yesterday. We remain bearish below 0.7837 resistance (Fibonacci retracement support-turned-resistance, pullback resistance) for a further drop to at least 0.7738 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,3,1) is dropping nicely from our 97% resistance and has good downside potential.

AUDJPY profit target reached absolutely perfectly, prepare to sell

Sell below 88.76. Stop loss at 89.38. Take profit at 87.92.
Reason for the trading strategy (technically):
Price has shot up from our buying area and reached our profit target absolutely perfectly. We prepare to sell on major resistance at 88.76 (Multiple Fibonacci retracements, horizontal swing high resistance, Fibonacci extension) for a push down to at least 87.92 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.

NZDUSD testing major support, remain bullish

Buy above 0.7146. Stop loss at 0.7093. Take profit at 0.7245.
Reason for the trading strategy (technically):
Price has been testing our major support atc0.7146 (Fibonacci retracement, horizontal overlap support) and we expect to see a strong bounce off that level to push price to at least 0.7345 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 0.9% where we expect to see a corresponding bounce from.

EURJPY shot up and reached our profit target perfectly, prepare to sell

Sell below 133.29. Stop loss at 133.96. Take profit at 131.90.
Reason for the trading strategy (technically):
Price has shot up from our buying area and reached our profit target perfectly. We prepare to sell on major resistance at 133.29 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push back down to at least 131.90 support (Fibonacci extension, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% and we expect to see a corresponding drop from this level soon.

EURUSD bouncing up perfectly, remain bullish

Buy above 1.1747. Stop loss at 1.1709. Take profit at 1.1878.
Reason for the trading strategy (technically):
Price has touched our entry and bounced off perfectly as expected. We remain bullish above major support at 1.1747 (Fibonacci retracement, horizontal overlap support, bullish divergence) for a push up to at least 1.1878 resistance (Multiple Fibonacci retracement, horizontal overlap resistance, Fibonacci extension).
Stochastic (89,5,3) is starting to bounce off nicely from our 1.1% and also sees bullish divergence vs price signalling that a bullish reversal is impending.

MEX_Exchange · October 20, 2017, 1:42am

Date: October 20, 2017

GBPUSD dropping nicely from resistance, remain bearish for a further drop

Sell below 1.3269. Stop loss at 1.3357. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price continues to hover around below our selling area yesterday. We remain bearish looking to sell on major resistance pullback at 1.3269 (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a push down to at least 1.3032 support (Fibonacci extension, horizontal swig low support).
Stochastic (89,3,1) is dropping nicely from our 99% resistance and we see good downside potential for the rest of the drop.

AUDUSD back to major resistance, remain bearish

Sell below 0.7889. Stop loss at 0.7933. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has risen back up to our major resistance area of 0.7889 (Multiple Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and we expect to see a strong reaction from this level to push price down to 0.7738 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 97% and has good downside potential. It is potentially forming a bearish divergence signal too.

AUDJPY remain bearish as price tests our selling area

Sell below 88.76. Stop loss at 89.38. Take profit at 87.92.
Reason for the trading strategy (technically):
Price continues to test our selling area. We remain bearish looking to sell below major resistance at 88.76 (Multiple Fibonacci retracements, horizontal swing high resistance, Fibonacci extension) for a push down to at least 87.92 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,3,1) is seeing major resistance at 98% and turning down nicely with good downside potential.

USDJPY on major support, prepare to buy for a bounce

Buy above 112.44. Stop loss at 111.56. Take profit at 113.53.
Reason for the trading strategy (technically):
Price is seeing major support at 112.44 (Multiple Fibonacci retracements, horizontal overlap support) and we expect to see a strong bounce above this level to push price up to at least 113.53 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 1.8% where we expect a corresponding bounce from.

EURJPY testing major resistance, prepare to sell

Sell below 133.55. Stop loss at 133.96. Take profit at 131.90.
Reason for the trading strategy (technically):
Price is forming a very strong reversal pattern and we remain bearish below major resistance at 133.55 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, Elliott wave theory) and we expect to see a strong drop from this level to wards 131.90 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% and we expect to see a corresponding drop from this level soon.

EURUSD profit target reached perfectly, prepare to sell

Sell below 1.1878. Stop loss at 1.1949. Take profit at 1.1747.
Reason for the trading strategy (technically):
Price has shot up perfectly from our buying area and reached our profit target absolutely perfectly. We prepare to sell below major resistance at 1.1878 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to at least 1.1747 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
Stochastic (34,3,1) is seeing major resistance below 96% where we expect a corresponding reaction from.

MEX_Exchange · October 23, 2017, 1:31am

Date: October 23, 2017

USDCHF testing major resistance, time to start selling

Sell below 0.9861. Stop loss at 0.9978. Take profit at 0.9703.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.9861 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect to see a strong reaction off this level to push price down to at least 0.9703 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 95% and also sees bearish divergence vs price, signalling that a reversal is impending.

AUDUSD dropping perfectly, remain bearish

Sell below 0.7889. Stop loss at 0.7933. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and is fast approaching our profit target. We remain bearish looking to sell on strength below our major resistance area of 0.7889 (Multiple Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) for a further drop to 0.7738 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 97% and has good downside potential. We are seeing intermediate resistance at 53% too.

AUDJPY testing major resistance, prepare to sell

Sell below 89.11. Stop loss at 89.38. Take profit at 88.36.
Reason for the trading strategy (technically):
Price is approaching major resistance at 89.11 (Multiple Fibonacci retracement, horizontal pullback resistance, Fibonacci extension, bearish divergence) and we expect to see a short term correction from this level to push price down to at least 88.36 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect to see a strong reaction off this level. We’re also seeing bearish divergence vs price signalling that a reversal is impending.

USDJPY profit target reached perfectly, prepare to sell

Sell below 114.51. Stop loss at 114.91. Take profit at 113.44.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 114.51 (Fibonacci retracement, horizontal swing high resistance) for a push down to at least 113.44 support (Fibonacci retracement, horizontal pullback support, price gap).
Stochastic (21,3,1) is testing major resistance at 99% and we expect to see a reaction soon.

EURJPY rising strongly, prepare to sell on strength

Sell below 134.41. Stop loss at 134.79. Take profit at 133.50.
Reason for the trading strategy (technically):
Price is rising strongly and we prepare to sell on major resistance at 134.41 (Fibonacci extension, horizontal swing high resistance, bearish divergence) for a corrective drop to at least 133.50 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 100% and also bearish divergence vs price signalling that a reversal is impending.

EURUSD profit target reached perfectly once again, prepare to buy

Buy above 1.1747. Stop loss at 1.1708. Take profit at 1.1855.
Reason for the trading strategy (technically):
Price has plummeted from our selling area perfectly to our profit target. We prepare to buy on major support at 1.1747 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 1.1855 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing major support at 1.1% where we expect a corresponding bounce from.

MEX_Exchange · October 24, 2017, 1:33am

Date: October 24, 2017

USDCHF continues to test major resistance, remain bearish

Sell below 0.9861. Stop loss at 0.9978. Take profit at 0.9703.
Reason for the trading strategy (technically):
Price has reached our selling area and is starting to react off it nicely. We remain bearish below major resistance at 0.9861 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect to see a strong reaction off this level to push price down to at least 0.9703 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 95% and also sees bearish divergence vs price, signalling that a reversal is impending.

AUDUSD remain bearish whilst protecting our profits

Sell below 0.7829. Stop loss at 0.7864. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has continued to drop perfectly towards our profit target. We remain bearish looking to sell below 0.7829 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7738 support (Fibonacci extension, horizontal swing low support). It is important to note that we expect a strong acceleration to the downside once we break our descending channel on price and RSI.
RSI (34) sees a nice descending channel signalling that we’re still in a bearish configuration.

AUDJPY profit target reached perfectly, prepare to buy

Buy above 88.39. Stop loss at 88.17. Take profit at 89.10.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We now prepare to buy above major support at 88.39 (Multiple Fibonacci retracement, horizontal overlap support) for a push up to at least 89.10 resistance (Multiple Fibonacci retracement, recent swing high resistance).
Stochastic (21,3,1) is seeing support above 1.2% where we expect a corresponding bounce from.

USDJPY profit target reached nicely, prepare to buy for a further push up

Buy above 1113.16. Stop loss at 112.28. Take profit at 114.50.
Reason for the trading strategy (technically):
Price has dropped nicely and has reached our profit target from yesterday. We still see further bullish potential from here. Our goal is to remain bullish above 113.16 support (Fibonacci retracement, horizontal overlap support, ascending support) for a push up to at least 114.50 resistance (Major swing high resistance).
Stochastic (21,3,1) is seeing support above the 1 to 9% area.

EURJPY profit target reached perfectly, prepare to buy

Buy above 113.12. Stop loss at 132.78. Take profit at 134.13.
Reason for the trading strategy (technically):
Price has dropped nicely to our profit target. We prepare to buy above major support at 133.12 (Multiple Fibonacci retracement, horizontal swing low support) for a push up to at least 134.13 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 1.6% where we expect a corresponding bounce from.

EURUSD testing major support, remain bullish

Buy above 1.1747. Stop loss at 1.1708. Take profit at 1.1855.
Reason for the trading strategy (technically):
Price has reached our buying area and is testing it. We remain bullish looking to buy on major support at 1.1747 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 1.1855 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing major support at 1.1% and bouncing up nicely from it.

MEX_Exchange · October 25, 2017, 1:24am

Date: October 25, 2017

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

Sell below 1.3222. Stop loss at 1.3300. Take profit at 1.3032.
Reason for the trading strategy (technically):
Price has been dropping from our selling area perfectly as expected. We remain bearish looking to sell on strength below 1.3222 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to at least 1.3032 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
Stochastic (55,3,1) has dropped nicely from our 97% resistance and has good downside potential.

AUDUSD remain bearish whilst protecting our profits

Sell below 0.7799. Stop loss at 0.7833. Take profit at 0.7738.
Reason for the trading strategy (technically):
Price has dropped further as expected and has broken out of our bearish channel configuration signalling a further acceleration to the downside. We remain bearish looking to sell on strength below 0.7799 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a further push down to 0.7738 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a nice descending channel signalling that we’re still in a bearish configuration.

AUDJPY dropped strongly, prepare to buy for a corrective bounce

Buy above 88.11. Stop loss at 87.72. Take profit at 88.69.
Reason for the trading strategy (technically):
Price has dropped strongly and is now testing strong support at 88.11 (Fibonacci retracement, horizontal pullback support) and we expect to see a corrective bounce from here to at least 88.69 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above our 1.2% where we expect a corresponding bounce from.

USDJPY almost reaching profit target, prepare to sell on major resistance

Sell below 114.50. Stop loss at 115.19. Take profit at 113.16.
Reason for the trading strategy (technically):
Price has started to bounce nicely up towards our profit target. We prepare to sell on major resistance at 114.50 (Fibonacci extension, major swing high resistance) for a push down to at least 113.16 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,3,1) is approaching major resistance at 100% where we expect a corresponding reaction from.

EURJPY profit target reached perfectly again, prepare to sell

Sell below 134.36. Stop loss at 134.66. Take profit at 133.16.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance) for a push down to at least 133.16 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 93% where we expect a corresponding strong reaction from.

EURUSD remain bullish for a further bounce

Buy above 1.1747. Stop loss at 1.1708. Take profit at 1.1855.
Reason for the trading strategy (technically):
Price has reached our buying area and is testing it. We remain bullish looking to buy on major support at 1.1747 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 1.1855 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing major support at 1.1% and bouncing up nicely from it.

MEX_Exchange · October 26, 2017, 1:24am

Date: October 26, 2017

GBPUSD testing major resistance, remain bearish for a drop

Sell below 1.3273. Stop loss at 1.3356. Take profit at 1.3112.
Reason for the trading strategy (technically):
Price is now testing a major resistance level at 1.3273 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 1.3112 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is seeing major resistance below 98% where we expect a corresponding reaction from.

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

Sell below 0.7746. Stop loss at 0.7797. Take profit at 0.7656.
Reason for the trading strategy (technically):
Price has dropped perfectly to our profit target as expected. We prepare to sell on strength below major resistance at 0.7746 (Fibonacci retracement, horizontal pullback resistance) as we still expect further downside pressure to push price to at least 0.7656 support (Fibonacci extension, Elliott wave structure).
RSI (89,3,1) is on support at 4.1% which supports our view that we’ll be seeing an intermediate correction on price before a further drop.

AUDJPY approaching major support, prepare to buy

Buy above 87.28. Stop loss at 87.03. Take profit at 87.75.
Reason for the trading strategy (technically):
Price is approaching major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support) and we expect to see a strong bounce above this level to push price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance).
Stochastic (34,3,1) is seeing strong support above 2.2% and we expect to see a corresponding bounce above this level.

USDCHF reversing nicely, remain bearish looking to sell on strength

Sell below 0.9939. Stop loss at 0.9978. Take profit at 0.9832.
Reason for the trading strategy (technically):
Price has started to react off major resistance at 0.9939 (76.4% Fibonacci retracement, Fibonacci extension) and we expect to see price being pushed down to at least 0.9832 support (Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is reversing nicely below our 94% resistance level.

EURJPY testing major resistance, remain bearish

Sell below 134.36. Stop loss at 134.66. Take profit at 133.16.
Reason for the trading strategy (technically):
Price has reached our selling area perfectly and continues to test that level. We remain bearish looking to sell on major resistance at 134.36 (Fibonacci extension, Elliott wave theory, horizontal swing high resistance) for a push down to at least 133.16 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance at 93% where we expect a corresponding strong reaction from.

EURUSD shot up perfectly towards our profit target, prepare to sell

Sell below 1.1855. Stop loss at 1.1895. Take profit at 1.1747.
Reason for the trading strategy (technically):
Price has shot up perfectly from our buying area and is fast approaching our profit target. We prepare to sell below major resistance at 1.1855 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) for a push down to at least 1.1747 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance at 98% and we expect to see a corresponding reaction off this level.

MEX_Exchange · October 27, 2017, 1:52am

Date: October 27, 2017

GBPUSD profit target reached perfectly, prepare for another bounce

Buy above 1.3112. Stop loss at 1.3017. Take profit at 1.3229.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area and has reached our profit target. We are now seeing it at major support so the plan is to buy above 1.3112 (Fibonacci extension, horizontal swing low support) for a push up to at least 1.3229 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,3,1) is seeing major support above 4.4% where we expect a bounce from.

AUDUSD profit target reached once again, prepare for a corrective bounce

Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7746.
Reason for the trading strategy (technically):
Price has continued to drop nicely to our profit target. We’re now seeing major support at 0.7656 (Fibonacci extension, Elliott wave structure) where we expect a corrective bounce from to play the push up to resistance at 0.7746 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,3,1) is seeing strong support above 3.6% where we expect a corresponding bounce from.

AUDJPY right on major support, remain bullish

Buy above 87.28. Stop loss at 87.03. Take profit at 87.75.
Reason for the trading strategy (technically):
Price is now testing our major support at 87.28 (Fibonacci extension, Elliott wave structure, swing low support, bullish divergence) and we expect to see a strong bounce above this level to push price up to at least 87.75 resistance (Fibonacci retracement, breakout pullback resistance).
Stochastic (34,3,1) is seeing strong support above 2.2% and we expect to see a corresponding bounce above this level. We can also see bullish divergence vs price signalling that a bounce is impending.

USDCHF on resistance, prepare to sell

Sell below 0.9981. Stop loss at 1.0037. Take profit at 0.9877.
Reason for the trading strategy (technically):
Price is now testing significant resistance at 0.9981 (multiple Fibonacci extensions) and we intend to see a small corrective move to at least 0.9877 (Fibonacci retracement, horizontal overlap support). Caution should be exercised on this trade as we can’t find any horizontal resistance level at our selling area.
Stochastic (34,5,3) is testing our 94% resistance level where we expect a corresponding drop from.

EURJPY profit target reached perfectly, prepare for a bounce

Buy above 132.38. Stop loss at 131.99. Take profit at 133.15.
Reason for the trading strategy (technically):
Price has plummeted down to our profit target perfectly from our selling area. We prepare to buy above 132.32 support (Fibonacci retracement, horizontal overlap support) for a corrective bounce to at least 133.15 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,3,1) is seeing strong support above 2.1% where we expect a bounce off too.

USDJPY approaching major resistance, prepare to sell

Sell below 114.49. Stop loss at 115.19. Take profit at 113.16.
Reason for the trading strategy (technically):
Price is now approaching major resistance at 114.49 (Fibonacci retracement, Fibonacci extension, major swing high resistance) and we expect to see a strong reaction off this level to push price down to 113.16 support (Fibonacci retracement, horizontal overlap support).
Stochastic (21,3,1) is approaching major resistance at 97% where we expect a corresponding reaction from.

MEX_Exchange · October 30, 2017, 1:42am

Date: October 30, 2017

EURUSD profit target reached, prepare to sell on major resistance

Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price has dropped strongly and reached our profit target from previously. We suspect that there will be a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
RSI (34) is in an overall bearish dynamic configuration.

AUDUSD bouncing perfectly, remain bullish

Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7730.
Reason for the trading strategy (technically):
Price has started to bounce off our buying area perfectly. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% where we expect a corresponding bounce from.

AUDJPY prepare to buy on breakout resistance

Buy above 87.30. Stop loss at 86.93. Take profit at 87.75.
Reason for the trading strategy (technically):
Price has dropped strongly from last week. We look to buy once price breaks above major resistance at 87.30 (Fibonacci retracement, horizontal overlap resistance, bullish divergence) for a push up to at least 87.75 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 2% and also sees bullish divergence vs price signalling that a reversal is impending.

NZDUSD on major support, time to start buying for a reversal

Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052.
Reason for the trading strategy (technically):
Price has dropped strongly and is now testing major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.

EURJPY on major support, time to play a corrective bounce

Buy above 131.77. Stop loss at 131.52. Take profit at 132.46.
Reason for the trading strategy (technically):
Price has dropped strongly from last week and is now testing major support at 131.77 (Fibonacci extension, horizontal swing low support) and we expect to see a strong corrective bounce above this level to push price up to at least 132.46 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,3,1) is seeing strong support above 2.1% where we expect a bounce from.

USDJPY reversing perfectly, remain bearish for a further drop

Sell below 114.00. Stop loss at 114.54. Take profit at 113.16.
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 below 114.00 resistance (Fibonacci retracement, horizontal overlap resistance, big figure, bearish divergence, ascending support break) as we expect a strong push down to at least 131.16 support (Fibonacci retracement, horizontal overlap support).
Stochastic (55,3,1) is seeing strong support broken opening a drop to the downside which has massive bearish potential.

MEX_Exchange · October 31, 2017, 1:35am

Date: October 31, 2017

EURUSD approaching major resistance, prepare to sell

Sell below 1.1666. Stop loss at 1.1738. Take profit at 1.1572.
Reason for the trading strategy (technically):
Price continues to confirm our suspicion as it rises towards major breakout resistance. We remain bearish as we continue to expect a strong push up to selling area of 1.1666 (Fibonacci retracement, horizontal pullback resistance, breakout area) for sell orders to be accumulated before a further push back down to 1.1572 support (Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is approaching major resistance at 96% where we expect a strong reaction from.

AUDUSD bouncing perfectly, remain bullish

Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7730.
Reason for the trading strategy (technically):
Price has started to bounce off our buying area perfectly. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% and is bouncing nicely as expected.

USDCHF on nice support, time to start buying

Buy above 0.9937. Stop loss at 0.9872. Take profit at 1.0033.
Reason for the trading strategy (technically):
Price is right above major support at 0.9937 (Fibonacci retracement, horizontal pullback support, Fibonacci extension) and we look to buy above this level for a push up to at least 1.0033 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (23,3,1) is seeing strong support above 1.9% where we expect a corresponding bounce from.

NZDUSD testing major support, remain bullish

Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052.
Reason for the trading strategy (technically):
Price continues to test major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.

EURJPY whipsawing a lot, remain bullish for a reversal

Buy above 131.73. Stop loss at 131.33. Take profit at 132.38.
Reason for the trading strategy (technically):
Price is whipsawing a lot due to volatility. We remain bullish above 131.73 support (Fibonacci extension, horizontal support) for a push up to at least 132.38 resistance (Fibonacci retracement, horizontal overlap resistance, bullish divergence).
Stochastic (55,3,1) is seeing nice support above 3.1% and also sees bullish divergence vs price signalling that a bounce is impending.

USDJPY profit target reached perfectly, prepare to buy

Buy above 112.71. Stop loss at 112.25. Take profit at 113.36.
Reason for the trading strategy (technically):
Price has dropped perfectly and has reached our profit target perfectly. Now we prepare to buy above major support at 112.71 (Multiple Fibonacci retracement, Fibonacci extension, horizontal breakout pullback support) as we expect to see a nice bounce from this level to push price up to resistance at 113.36 (Fibonacci retracement, horizontal pullback support).
Stochastic ((55,3,1) is seeing nice support above 4.4% where we expect a bounce from.