Forex Trade Signal – Trade Setup July 29th
USDJPY – 4x so far As suspected, the pair ran into the 20ema on the daily charts and sold off aggressively for 2 days following. This confirms the institutions are watching this and making plays off of it. With liquidity being down for the summer, its not surprising it is having a hard time breaking it. Traders can go for a sell off a 5th touch with tight stops behind it (around...
Read MoreForex Ichimoku Report July 28th
*NOTE – This is a mid-week report so we will be using only daily charts. EURUSD – Looking Like it Wants to Since breaking the daily kumo for the first time in the last 8 mos and the entire year of 2010, the EURUSD has performed notably consistent with a kumo break play as it has pulled back to the flat top and since bounced from there. It has however stalled around the 1.3000 barrier...
Read MoreForex Trade Signal – Trade Setup July 27th
GBPJPY – Kumo Break The GJ has just completed something it has not done in a few months – perform a kumo break on the daily charts, particularly to the upside. What is most interesting about this Kumo break is it happened over a flat top which is also the 50% retracement for the last major downmove from 145 – 125 right at 136.33. The pair had tried for two months to break this...
Read MoreForex Trade Signal July 22nd
EURUSD – Continues to Get Kumo Support After making its 1st dip into the 4hr Kumo this month, the pair was given support by the kumo and pushed the pair back above it and the Kijun line. This sets up a potential upward Tenkan-Kijun cross which would be a bullish signal but this is in the face of the major resistance at 1.3000. The last two attempts here failed but this makes sense...
Read MoreForex Trade Signal July 20th
EURUSD – Did not like it After making a second attempt on the big figure at 1.3000, the market did not like being long euros and sold the pair off aggressively pushing it under 1.2900. The pair has found support at the Kijun on the 4hr chart so this is good news for those hoping for another attempt on 1.3000. However, the pair formed a strong Pbar and follow up reversal candle which was...
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