Hello fellow Traders!
I’d like to start this thread to share my trading ideas where I am open for any comments and suggestions.
Hope this will be an interesting and friendly discussion.
Ok lets get started, the very first one will be the EURUSD, looking extremely bearish and I am expecting 1.04 area to be reached pretty fast, week or two
Clearly there is a long term uptrend on GBPAUD that appears to be still valid. I am expecting rate to continue rising targeting 1.9737. Target should be reached either by 7th of May or 7th of June.
Although GOLD long term uptrend could have started, on the smaller timeframe it looks like it should correct back to 1168.
US Oil – WTI just hit my upside target at 56 USD for a barrel. Not its an interesting level that should be monitored. Breakout above should trigger further extensions up while if rejected correction will take place.
NZDCHF after forming a double top has very high probability of correcting down. I think we’ll hit 0.7235 by 23rd of April… yea we could see pretty fast drop.
According to my analysis USDJPY eventually should move lower. However at the same time while the new cycle begins it could trigger a correctional move up for about 200-300 pips. Need to watch current support.
Interesting setup on NZDJPY.
The long term picture looks pretty bearish, while in short term pair facing no resistance, while the support has been rejected. It could be a good long trade for approximately 100 pips potential gain. Soon we’ll find out.
Heyy man you dont know how to draw trendlines
If I am doing it not “your” way, does not mean that I don’t know how to do it
GBPUSD did break the support that implies that it will move lower eventually. However the cyclic analysis warns on the potential move higher first. So there are two trade setups, buy and sell … will be interesting to follow.
For now USDJPY should continue moving up towards our target at 120.20. When/if hit I’d start looking for mid/long term sell opportunities as most pairs signaling on potential weak USD and strong JPY in the next weeks/months to come.
Across the board AUD could be losing value, fast. This would establish trend on most AUD pairs, especially GBPAUD, EURAUD and AUDJPY. But in this particular case here is EURAUD likely scenario… quite large upside potential.
NZDJPY just hit my downside target and closed above it. In addition a new cycle begins suggesting continuation of the trend up and potential double top before the big fall down.
Crude Oil established a key support level at 54 Dollars for a Barrel. While at this stage new highs can be expected in the mid/long term, it is very likely that 54 level will be tested once again.
NZDUSD in my view has confirmed the mid/long term downtrend. But now with the new cycle I think it will correct up slightly before the rally down begins. I’d be looking for selling opportunities around 0.76 area.
The EURUSD just formed a double top that is confirmed by cyclic analysis. Next cycle should be down, ending on 14th of May and targeting rate of 1.0440.
There is very similar picture on GBPUSD if compared with EURUSD. Also formed a double top and also with the new cycle. GBPUSD should target 1.4830, with the cycle ending on 5th of May.
If we look at AUDUSD on Daily chart the cycle down has already begun on the 27th of March and should be ending on the 6th of May… hhh almost the same as GBPUSD. Good trading to all!
I think it is obvious that there is significant support at 54 level and significant resistance at 58. At this point with the double top on the lower timeframe WTI has all chances to correct back to 54, after witch we might see uptrend continuation.
